Shopping Center with Separate
For Sale
$1,499,900
429 Ryders Lane, East Brunswick, NJ 08816
Commercial Sale, East Brunswick, NJ
Property Size3,186 SF
Lot Size0.33 Acres
Price / SF$470.78
Days on Market48
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
Zoned, Attic Fan, Central Air, Exhaust Fan (Cooling)
Water source
Public
Building Details
Year built
1953
Floors in Building
1
Flooring type
Linoleum, Dropped ceiling, Lighting fixtures, Tile - Ceramic
Building materials
Block, Stucco
Roof type
Rubber, Flat
Listing Agency:
AIM REALTY CORP.
Listed By:
Steven Schrager
(732) 651-8400
Added: Aug 4
Changed: Sep 13
Last Checked: Sep 20 at 6:06PM
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 3,186-square-foot shopping center at 429 Ryders Lane includes two occupied units with separate utility service for each. Current tenants are Vinnies Pizza and Bond Cleaners; the cleaners operates on a month-to-month arrangement, while both occupants are described as long-term tenants. The building was constructed in 1953 with block and stucco exterior walls, a flat rubber roof, dropped ceilings, lighting fixtures, and a combination of linoleum and ceramic tile flooring.
The property occupies 0.332 acres in East Brunswick and carries C3 zoning. Building systems include forced-air heating, central air conditioning with zoned cooling, exhaust equipment, public water, and public sewer. Open parking is provided on site.
The property occupies 0.332 acres in East Brunswick and carries C3 zoning. Building systems include forced-air heating, central air conditioning with zoned cooling, exhaust equipment, public water, and public sewer. Open parking is provided on site.
Key Highlights
- 3,186‑square‑foot shopping center on a 0.332‑acre parcel
- Separate utilities serve each unit
- Two tenants: Vinnies Pizza and Bond Cleaners
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
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
314
Businesses Nearby
93k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Home Improvements & Furnishings 53%
Shops & Services 40%
Dining 7%
The Home Depot
Home Improvements & Furnishings
49,036 visits/mo
0.5 miles
Wawa
Shops & Services
28,841 visits/mo
0.1 miles
TD Bank
Shops & Services
8,119 visits/mo
0.2 miles
Cold Stone Creamery
Dining
4,659 visits/mo
0.4 miles
Domino's Pizza
Dining
1,930 visits/mo
0.4 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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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
- Ryders Crossing — 336 Ryders Ln, Milltown, NJ 08850
- Coinstar Kiosk | Bitcoin ATM — NAI, 300 Ryder Lane, Milltown, NJ 08850
Frequently Asked Questions
What type of property is this?
Shopping center - Multi-tenant retail property with individual utility service, open parking, and public water and sewer.
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: 3,186‑square‑foot shopping center on a 0.332‑acre parcel; Separate utilities serve each unit; Two tenants: Vinnies Pizza and Bond Cleaners
