Mixed-Use Property with Redevelopment
361 Kearny Kearny, NJ 07032
For Sale
$1,600,000
Mixed-use property with income and redevelopment potential in Kearny.
Property Size4,500 SF
Lot Size0.24 Acres
Price / SF$355.56
Days on Market142
Property Features for 361 Kearny
General Information
Standard status
Active
Size
4,500 SF
Lot size
0.24 Acres
Property subtype
Commercial
Listing Agency:
COLDWELL BANKER, ALPINE/CLOSTER
(201) 767-0550
Listed By:
MARK MEDING
Source:
Corcoran
Added: Mar 9
Changed: Jul 6
Last Checked: Jul 27 at 8:13AM
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 COLDWELL BANKER, ALPINE/CLOSTER
Investment Insights
Based on property information with market context.
This mixed-use property is positioned along Kearny’s main street and spans two contiguous lots totaling 10,600 square feet. The front lot includes a 2,340-square-foot commercial building with a liquor store tenant, 14-foot ceilings, and a 2,100-square-foot basement, providing approximately 4,500 square feet of usable space. Zoned C-3, the site supports three-story mixed-use redevelopment, allowing for the addition of apartments over ground-floor retail. The second lot, located directly behind on a residential street, features a 7,500-square-foot paved parking area with 24 spaces, currently leased at $250 per month per space, generating $6,000 in monthly income ($72,000 annually). The property has dual access from both commercial and residential streets. Potential income from the retail lease is approximately $6,000 per month. This property offers the opportunity to create a high-value asset in Hudson County.
Key Highlights
- Significant income potential from existing liquor store tenant and parking lot leases (approximately $13,000/month combined).
- Large 10,600 SF lot with C‑3 zoning allows for three‑story mixed‑use redevelopment (apartments over retail).
- Prime location on Kearny's main street in a rapidly growing area of Hudson County.
Financial Insights For Industrial
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $146.3k | $32.52 |
| − Vacancy | −$10.5k | −$2.34 |
| EGI | $135.8k | $30.18 |
| − OpEx | −$40.7k | −$9.05 |
| NOI | $95.1k | $21.12 |
4,500 SF · lease $32.52/SF/yr · vacancy 7.20% · expense 30.00%
Alternative Uses
Best Use
Industrial
$1.36M
$1.19M – $1.58M
NOI $95,062 @ 7.0% cap · market cap 5.94%
Second Best
Mixed Use
$1.06M
$928.1K – $1.24M
NOI $74,250 @ 7.0% cap · market cap 4.64%
Theoretical Best
Warehouse
$1.63M
$1.43M – $1.90M
NOI $114,065 @ 7.0% cap · market cap 7.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Mixed-use property - Mixed-use property with income and redevelopment potential in Kearny.
Where is this mixed-use property located?
The property is located at 361 Kearny Kearny, NJ.
What is the asking price?
The asking price for this property is $1,600,000.
What are key features of this property?
This property features: Significant income potential from existing liquor store tenant and parking lot leases (approximately $13,000/month combined).; Large 10,600 SF lot with C‑3 zoning allows for **three‑story mixed‑use redevelopment** (apartments over retail).; **Prime location** on Kearny's main street in a rapidly growing area of Hudson County.
