Freestanding Commercial Asset on Corner
For Sale
Contact for pricing
363 Glen Rd, Sparta, NJ 07871
Freestanding commercial building on 0.711-acre corner parcel in Sparta, NJ.
Property Size2,000 SF
Lot Size0.71 Acres
Price / SF$199.50
Days on Market139
Property Features for 363 Glen Rd
General Information
Standard status
Active
Size
2,000 SF
Lot size
0.71 Acres
Property subtype
Retail, Land
Zoning
R-1
Building Details
Year Built
1940
Buildings
1
Stories
1
Units
1
Listing Agency:
Ripco Real Estate
(201) 777-2302
Listed By:
Curtis Nassau · License #NJ 0340409
Source:
Crexi
Added: Mar 27
Changed: Aug 9
Last Checked: Aug 9 at 5:39AM
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 Ripco Real Estate
Investment Insights
Based on property information with market context.
The property at 363 Glen Road is a freestanding commercial asset situated on a 0.711-acre corner parcel at a signalized four-way intersection along Glen/County Road in Sparta, New Jersey. The 2,000 square foot building benefits from strong visibility, multiple points of ingress/egress, and frontage along a key east-west corridor linking Sparta and Jefferson. The property is improved with a two-bay service station building and pylon signage. Existing gas station/auto repair approvals offer flexibility for continued automotive use or repositioning. Capital improvements include a new roof installed in 2020, and underground storage tanks have been removed. It is located along a commuter and retail route. The property is zoned favorably and is located in a high-income demographic area.
Key Highlights
- Prominent 0.711‑acre corner parcel at a signalized four‑way intersection.
- Strong visibility and multiple points of ingress/egress.
- Existing gas station/auto repair approvals.
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
$30,586
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
7.67%
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%
$611,720
$611.7K
Cap Rate 7%
$436,943
$436.9K
Cap Rate 9%
$339,844
$339.8K
Market Conditions
NOI Build-Up for 2,000 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
$43.2K $21.60/SF
− Vacancy
−$2.4K −$1.21/SF
EGI
$40.8K $20.39/SF
− OpEx
−$10.2K −$5.10/SF
NOI
$30.6K $15.29/SF
Area
Sussex 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%
$611,720
Cap Rate 7%
$436,943
Cap Rate 9%
$339,844
Alternative Uses
Best Use
Specialty Retail
$436.9K
$382.3K – $509.8K
NOI $30,586 @ 7.0% cap · market cap 7.67%
Second Best
Retail
$407.8K
$356.8K – $475.8K
NOI $28,547 @ 7.0% cap · market cap 7.15%
Theoretical Best
Office A
$522.2K
$457.0K – $609.3K
NOI $36,557 @ 7.0% cap · market cap 9.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
27
Businesses Nearby
Explore this area
Business Placement
Demographics for 07871, NJ
20,992
Population
8,367
Households
2.5
Avg Household Size
43
Median Age
62%
College-Educated
98%
High-School Grad
38.2 sq mi
ZIP Area
550
Density / Sq Mi
$167,443
Median Household Income
$84,587
Median Earnings
$1,831
Median Rent
$462,900
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?
Gas station - Freestanding commercial building on 0.711-acre corner parcel in Sparta, NJ.
Where is this gas station located?
The property is located at 363 Glen Rd Sparta, NJ.
What is the asking price?
The asking price for this property is $399,000.
What are key features of this property?
This property features: Prominent 0.711‑acre corner parcel at a signalized four‑way intersection.; Strong visibility and multiple points of ingress/egress.; Existing gas station/auto repair approvals.
