Shopping Center with Separate
For Sale
$1,499,900
429 Ryders Ln, East Brunswick, NJ 08816
Two occupied units have separate utility service, with Vinnies Pizza and Bond Cleaners operating in the center.
Property Size3,186 SF
Price / SF$470.78
Days on Market19
Property Features for 429 Ryders Ln
General Information
Standard status
Active
Size
3,186 SF
Additional Details
Utilities to Site
Yes
Taxes and HOA fees
Annual Taxes
$28,872
Building Details
Tenancy
Multi
Listing Agency:
AIM REALTY CORP.
(732) 651-8400
Listed By:
STEVEN R. SCHRAGER
Source:
Exprealty
Added: Aug 4
Changed: Aug 22
Last Checked: Aug 22 at 5:05AM
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 AIM REALTY CORP.
Investment Insights
Based on property information with market context.
This shopping center at 429 Ryders Ln in East Brunswick includes two occupied units with separate utilities for each space. The current occupants are Vinnies Pizza and Bond Cleaners.
Both tenants are described as long-term occupants. The Bond Cleaners tenancy is month to month, while rents for both tenants have not been increased in at least 5 years. The property is identified as a 3,186-size commercial asset.
Both tenants are described as long-term occupants. The Bond Cleaners tenancy is month to month, while rents for both tenants have not been increased in at least 5 years. The property is identified as a 3,186-size commercial asset.
Key Highlights
- Two occupied units in the shopping center
- Separate utilities provided for each unit
- Current occupants include 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
$45,475
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
3.03%
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%
$909,500
$909.5K
Cap Rate 7%
$649,643
$649.6K
Cap Rate 9%
$505,278
$505.3K
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
−$19.5K −$6.12/SF
NOI
$45.5K $14.27/SF
Area
Middlesex County, NJ
Vacancy
5.60%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
30.00%
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%
$909,500
Cap Rate 7%
$649,643
Cap Rate 9%
$505,278
Alternative Uses
Best Use
Retail
$649.6K
$568.4K – $757.9K
NOI $45,475 @ 7.0% cap · market cap 3.03%
Second Best
—
—
no second resolved use
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
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
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 - Two occupied units have separate utility service, with Vinnies Pizza and Bond Cleaners operating in the center.
Where is this shopping center located?
The property is located at 429 Ryders Ln 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: Two occupied units in the shopping center; Separate utilities provided for each unit; Current occupants include Vinnies Pizza and Bond Cleaners
