Freestanding Grocery
For Sale
$499,000
37 Fair St, Hackensack, NJ 07601
Updated building with food-service infrastructure, basement storage, and loading access for continued retail or deli use.
Property Size1,978 SF
Price / SF$252.28
Days on Market89
Property Features for 37 Fair St
General Information
Standard status
Active
Size
1,978 SF
Building Details
Year Built
1950
Listing Agency:
UNITED REAL ESTATE
Listed By:
ROSEMARY CARROLL
(201) 315-9854
Source:
Luminancerealty
Added: Jun 12
Changed: Sep 8
Last Checked: Sep 8 at 4:56AM
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 UNITED REAL ESTATE
Investment Insights
Based on property information with market context.
This freestanding commercial building at 37 Fair Street includes central air, a heat pump, a renovated bathroom, and an industrial-grade kitchen installation. A full basement provides additional storage, while the one-car driveway supports loading and property access. The building has operated as a neighborhood grocery and deli for over four decades, establishing a documented history of retail and food-related use.
The property is in Hackensack, serving a customer base that has included local residents, courthouse employees, visitors, and nearby businesses. Its existing improvements can accommodate continuation of the established grocery or deli format, subject to applicable requirements, or adaptation for another retail or food-related concept.
The property is in Hackensack, serving a customer base that has included local residents, courthouse employees, visitors, and nearby businesses. Its existing improvements can accommodate continuation of the established grocery or deli format, subject to applicable requirements, or adaptation for another retail or food-related concept.
Key Highlights
- Freestanding commercial building at 37 Fair Street in Hackensack, NJ
- Over four decades of operation as a neighborhood grocery and deli
- Industrial‑grade kitchen setup for retail or food‑related use
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
$30,249
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
6.06%
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%
$604,980
$605.0K
Cap Rate 7%
$432,129
$432.1K
Cap Rate 9%
$336,100
$336.1K
Market Conditions
NOI Build-Up for 1,978 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
$42.7K $21.60/SF
− Vacancy
−$2.4K −$1.21/SF
EGI
$40.3K $20.39/SF
− OpEx
−$10.1K −$5.10/SF
NOI
$30.2K $15.29/SF
Area
Bergen 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%
$604,980
Cap Rate 7%
$432,129
Cap Rate 9%
$336,100
Alternative Uses
Best Use
Specialty Retail
$432.1K
$378.1K – $504.2K
NOI $30,249 @ 7.0% cap · market cap 6.06%
Second Best
Retail
$403.3K
$352.9K – $470.6K
NOI $28,233 @ 7.0% cap · market cap 5.66%
Theoretical Best
Office A
$516.5K
$451.9K – $602.6K
NOI $36,155 @ 7.0% cap · market cap 7.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,608
Businesses Nearby
56k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 69%
Shops & Services 31%
McDonald's
Dining
30,942 visits/mo
0.4 miles
7-Eleven
Shops & Services
8,909 visits/mo
0.4 miles
Shell
Shops & Services
8,283 visits/mo
0.3 miles
Pizza Hut
Dining
7,115 visits/mo
0.1 miles
Blimpie
Dining
968 visits/mo
0.3 miles
Demographics for 07601, NJ
46,030
Population
21,405
Households
2.2
Avg Household Size
40
Median Age
42%
College-Educated
87%
High-School Grad
4.2 sq mi
ZIP Area
10,960
Density / Sq Mi
$82,212
Median Household Income
$50,265
Median Earnings
$1,794
Median Rent
$370,300
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.
Similar Off Market Nearby
- Grocery la Universal — 07601, Hackensack, NJ 07601
- All nation mini supermarket — 214 -A Essex St, Hackensack, NJ 07601
- EMMA — 240 Main St, Hackensack, NJ 07601
- Casa Delfina — 253 Main St, Hackensack, NJ 07601
- Giant Farmers Market — 324 Main St, Hackensack, NJ 07601
Frequently Asked Questions
What type of property is this?
Grocery and convenience store - Updated building with food-service infrastructure, basement storage, and loading access for continued retail or deli use.
Where is this grocery and convenience store located?
The property is located at 37 Fair St Hackensack, NJ.
What is the asking price?
The asking price for this property is $499,000.
What are key features of this property?
This property features: Freestanding commercial building at 37 Fair Street in Hackensack, NJ; Over four decades of operation as a neighborhood grocery and deli; Industrial‑grade kitchen setup for retail or food‑related use
