Versatile Retail and Office
For Sale
$429,000
359 Rt 34, Old Bridge, NJ 07747
COMMERCIAL - Old Bridge, NJ
Property Size1,116 SF
Lot Size0.14 Acres
Price / SF$384.41
Days on Market156
Property Features for 359 Rt 34
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
CC
Bathrooms
1
Half bathrooms
1
Rooms
Bathroom 1
Parking
8
Lot features
Highway Commercial, Highway Location
Directions
9 to 34 South building on the left
Standard status
Active
APN
1503231000000012
Size
1,116 SF
Lot size
0.14 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
10742
Utilities
Sewer type
Public Sewer
Heating system
Forced Air
Cooling system
Central Air
Water source
Public
Building Details
Floors in Building
1
Flooring type
Carpet
Building materials
Vinyl Siding
Roof type
Composition
Listing Agency:
KELLER WILLIAMS CITY LIFE · Keller Williams Realty
(201) 659-8600
Listed By:
Jose Sanchez · License #1536927
(201) 659-8600
Added: Mar 19
Changed: Aug 8
Last Checked: Aug 21 at 11:06PM
MLS# 2611849R
Copyright © 2026 All Jersey MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This commercial property at 359 Rt 34 in Old Bridge offers a versatile space suited to a range of business types, including office, retail, or service-based operations. The offering includes 1,116 square feet and is situated on a 0.1377-acre lot.
The property is located on Route 34 and is described as being surrounded by residential neighborhoods, supporting convenient access for local customers and commuters.
Zoned CC, the space is positioned for tenants or owners looking for flexible commercial use within the Old Bridge market.
The property is located on Route 34 and is described as being surrounded by residential neighborhoods, supporting convenient access for local customers and commuters.
Zoned CC, the space is positioned for tenants or owners looking for flexible commercial use within the Old Bridge market.
Key Highlights
- Strategic location on Route 34, providing easy access for local customers and commuters.
- Versatile commercial space suitable for office, retail, or service‑based businesses.
- Located in a high‑demand area surrounded by 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
$15,929
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
3.71%
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%
$318,580
$318.6K
Cap Rate 7%
$227,557
$227.6K
Cap Rate 9%
$176,989
$177.0K
Market Conditions
NOI Build-Up for 1,116 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
$24.1K $21.60/SF
− Vacancy
−$1.3K −$1.21/SF
EGI
$22.8K $20.39/SF
− OpEx
−$6.8K −$6.12/SF
NOI
$15.9K $14.27/SF
Area
Middlesex County, NJ
Vacancy
5.60%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
30.00%
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%
$318,580
Cap Rate 7%
$227,557
Cap Rate 9%
$176,989
Alternative Uses
Best Use
Retail
$227.6K
$199.1K – $265.5K
NOI $15,929 @ 7.0% cap · market cap 3.71%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$291.4K
$255.0K – $340.0K
NOI $20,399 @ 7.0% cap · market cap 4.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
267
Businesses Nearby
Explore this area
Business Placement
Demographics for 07747, NJ
31,915
Population
13,134
Households
2.4
Avg Household Size
43
Median Age
51%
College-Educated
96%
High-School Grad
12.8 sq mi
ZIP Area
2,493
Density / Sq Mi
$124,896
Median Household Income
$61,503
Median Earnings
$1,840
Median Rent
$464,100
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Retail space - Commercial suite on Route 34 zoned CC in Old Bridge, offering flexible retail, office, and service use.
Where is this retail space located?
The property is located at 359 Rt 34 Old Bridge, NJ.
What is the asking price?
The asking price for this property is $429,000.
What are key features of this property?
This property features: Strategic location on Route 34, providing easy access for local customers and commuters.; Versatile commercial space suitable for office, retail, or service‑based businesses.; Located in a high‑demand area surrounded by residential neighborhoods.
