Two-Tenant Shopping
For Sale
$1,499,900
429 Ryders Lane, East Brunswick, NJ 08816
COMMERCIAL - East Brunswick, NJ
Property Size3,186 SF
Lot Size0.33 Acres
Price / SF$470.78
Days on Market13
Property Features for 429 Ryders Lane
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
C3
Parking
26
Parking features
Open
Interior features
Dropped Ceiling, Lighting Fixtures
Appliances
Exhaust System
Lot features
Near Public Transit, Near Shopping, Commercial Area
Directions
Ryders Lane between Milltown Road and Smith Street, In front of Walgreens
Standard status
Active
APN
0400317130004008
Size
3,186 SF
Lot size
0.33 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
28872
Utilities
Sewer type
Public Sewer
Heating system
Forced Air
Cooling system
Exhaust Fan (Cooling), Zoned, Attic Fan, Central Air
Water source
Public
Building Details
Year built
1953
Floors in Building
1
Flooring type
Lighting fixtures, Tile - Ceramic, Dropped ceiling, Linoleum
Building materials
Block, Stucco
Roof type
Flat, Rubber
Listing Agency:
AIM REALTY CORP.
(732) 651-8400
Listed By:
Steven Schrager
(732) 651-8400
Added: Aug 4
Changed: Aug 15
Last Checked: Aug 16 at 2:06AM
MLS# 2702266R
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 3186-square-foot shopping center at 429 Ryders Lane includes two tenant spaces with separate utility service. Current occupants are Vinnies Pizza and Bond Cleaners, providing a restaurant and service-oriented retail configuration. The building features block and stucco construction, a flat rubber roof, ceramic tile and linoleum flooring, dropped ceilings, lighting fixtures, forced-air heat, central air, and zoned cooling. An exhaust system is also installed.
The property occupies 0.332 acres in East Brunswick, New Jersey, with open parking and public water and sewer. Built in 1953, the center is zoned C3. Bond Cleaners is currently operating on a month-to-month arrangement, while both occupants are described as long-term tenants. The listing notes that neither tenant’s rent has been increased in at least 5 years.
The property occupies 0.332 acres in East Brunswick, New Jersey, with open parking and public water and sewer. Built in 1953, the center is zoned C3. Bond Cleaners is currently operating on a month-to-month arrangement, while both occupants are described as long-term tenants. The listing notes that neither tenant’s rent has been increased in at least 5 years.
Key Highlights
- 3186 square feet of shopping center space on 0.332 acres
- C3 zoning with two tenant spaces
- Separate utilities serving each unit
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
$48,723
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
3.25%
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%
$974,460
$974.5K
Cap Rate 7%
$696,043
$696.0K
Cap Rate 9%
$541,367
$541.4K
Market Conditions
NOI Build-Up for 3,186 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
$68.8K $21.60/SF
− Vacancy
−$3.9K −$1.21/SF
EGI
$65.0K $20.39/SF
− OpEx
−$16.2K −$5.10/SF
NOI
$48.7K $15.29/SF
Area
Middlesex 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%
$974,460
Cap Rate 7%
$696,043
Cap Rate 9%
$541,367
Alternative Uses
Best Use
Specialty Retail
$696.0K
$609.0K – $812.1K
NOI $48,723 @ 7.0% cap · market cap 3.25%
Second Best
Retail
$649.6K
$568.4K – $757.9K
NOI $45,475 @ 7.0% cap · market cap 3.03%
Theoretical Best
Office A
$831.9K
$727.9K – $970.6K
NOI $58,235 @ 7.0% cap · market cap 3.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
930
Businesses Nearby
23k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
7-Eleven
Shops & Services
11,193 visits/mo
0.4 miles
BP
Shops & Services
7,541 visits/mo
0.3 miles
PNC Bank
Shops & Services
3,802 visits/mo
0.3 miles
Demographics for 08816, NJ
48,729
Population
17,242
Households
2.8
Avg Household Size
42
Median Age
58%
College-Educated
94%
High-School Grad
20.2 sq mi
ZIP Area
2,412
Density / Sq Mi
$141,731
Median Household Income
$71,111
Median Earnings
$2,079
Median Rent
$502,600
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.
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Frequently Asked Questions
What type of property is this?
Shopping center - C3-zoned retail property with separate utilities serving each unit.
Where is this shopping center located?
The property is located at 429 Ryders Lane East Brunswick, NJ.
What is the asking price?
The asking price for this property is $1,499,900.
What are key features of this property?
This property features: 3186 square feet of shopping center space on 0.332 acres; C3 zoning with two tenant spaces; Separate utilities serving each unit
