Freestanding Commercial Building with
For Sale
$850,000
349 John St, Harrison, NJ 07029
High-visibility corner lot suitable for various commercial uses.
Property Size1,701 SF
Lot Size0.10 Acres
Price / SF$499.71
Days on Market140
Property Features for 349 John St
General Information
Standard status
Active
Size
1,701 SF
Lot size
0.10 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$15,133
Amenities
Asphalt Shingle Roof
Building Details
Year Built
1974
Listing Agency:
ROSA AGENCY
(973) 589-7550
Listed By:
MICHAEL ROSA
Source:
Corcoran
Added: Mar 25
Changed: Aug 10
Last Checked: Aug 10 at 3:59AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of ROSA AGENCY
Investment Insights
Based on property information with market context.
This freestanding commercial building, previously used as a bank, includes a drive-thru. The property is suitable for financial institutions, medical users, quick-service restaurants, or retail redevelopment. Situated on a corner lot with dimensions of approximately 46 x 97, the location offers high visibility and strong traffic. The layout is designed for functionality, accommodating various business operations with convenient access and potential on-site parking. The corner location enhances visibility for signage and branding. The property is located in a commercial area near established businesses, public transportation, and residential neighborhoods. It is also located near an approved 1,000-unit apartment complex.
Key Highlights
- Existing Drive‑Thru: Ideal for various businesses.
- High‑Visibility Corner Lot: Offers outstanding exposure and strong traffic counts.
- Strategic Location: Bustling commercial corridor near established businesses, public transportation, and dense residential neighborhoods.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$26,013
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.06%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$520,260
$520.3K
Cap Rate 7%
$371,614
$371.6K
Cap Rate 9%
$289,033
$289.0K
Market Conditions
NOI Build-Up for 1,701 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$36.7K $21.60/SF
− Vacancy
−$2.1K −$1.21/SF
EGI
$34.7K $20.39/SF
− OpEx
−$8.7K −$5.10/SF
NOI
$26.0K $15.29/SF
Area
Hudson County, NJ
Vacancy
5.60%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$520,260
Cap Rate 7%
$371,614
Cap Rate 9%
$289,033
Alternative Uses
Best Use
Specialty Retail
$371.6K
$325.2K – $433.6K
NOI $26,013 @ 7.0% cap · market cap 3.06%
Second Best
Retail
$346.8K
$303.5K – $404.7K
NOI $24,279 @ 7.0% cap · market cap 2.86%
Theoretical Best
Warehouse
$615.9K
$539.0K – $718.6K
NOI $43,116 @ 7.0% cap · market cap 5.07%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,484
Businesses Nearby
244k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 42%
Groceries 30%
Dining 19%
Hotels & Casinos 4%
ShopRite
Groceries
73,309 visits/mo
0.4 miles
PetSmart
Shops & Services
27,525 visits/mo
0.5 miles
Speedway
Shops & Services
15,735 visits/mo
0.4 miles
AutoZone
Shops & Services
13,201 visits/mo
0.4 miles
Popeyes Louisiana Kitchen
Dining
12,235 visits/mo
0.4 miles
Demographics for 07029, NJ
22,044
Population
10,485
Households
2.1
Avg Household Size
33
Median Age
47%
College-Educated
87%
High-School Grad
1.3 sq mi
ZIP Area
16,957
Density / Sq Mi
$80,495
Median Household Income
$52,097
Median Earnings
$2,036
Median Rent
$433,100
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Bank - High-visibility corner lot suitable for various commercial uses.
Where is this bank located?
The property is located at 349 John St Harrison, NJ.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: Existing Drive‑Thru: Ideal for various businesses.; High‑Visibility Corner Lot: Offers outstanding exposure and strong traffic counts.; Strategic Location: Bustling commercial corridor near established businesses, public transportation, and dense residential neighborhoods.
