Storefront Property with
For Sale
$1,180,000
509 Pompton Ave #509, Cedar Grove, NJ 07009
Commercial building with supplemental basement space, dedicated rear parking, two HVAC units, and two bathrooms.
Property Size5,158 SF
Days on Market346
Property Features for 509 Pompton Ave #509
General Information
Standard status
Active
Size
5,158 SF
Total Parking Spaces
6
Property subtype
Commercial
Zoning
4 A
Net Operating Income
$87,600
Amenities
Two AC Units
2 bathrooms
Building Details
Building Size
5,158 SF
Year Built
1947
Buildings
1
Stories
1
Units
2
Listing Agency:
Re/Max Trust Properties
(973) 773-4000
Listed By:
Salih Okdemir
(973) 773-4000
Source:
Betterhomerealestate
Added: Sep 19, 2025
Changed: Aug 29
Last Checked: Aug 29 at 6:12PM
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 Re/Max Trust Properties
Investment Insights
Based on property information with market context.
This storefront property, built in 1947, provides approximately 3,058 square feet above grade along with a 2,100-square-foot basement. The building includes two AC units and two bathrooms, supporting a straightforward commercial layout with additional lower-level space.
Six parking spaces are positioned behind the building. The property is located at 509 Pompton Ave in Cedar Grove Township, New Jersey, and carries a 4 A zoning designation.
Six parking spaces are positioned behind the building. The property is located at 509 Pompton Ave in Cedar Grove Township, New Jersey, and carries a 4 A zoning designation.
Key Highlights
- Approximately 3058 SQ Ft plus 2100 SF basement
- Two AC units and 2 bathrooms
- 6 parking spaces behind the building
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
$73,622
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
6.24%
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%
$1,472,440
$1.5M
Cap Rate 7%
$1,051,743
$1.1M
Cap Rate 9%
$818,022
$818.0K
Market Conditions
NOI Build-Up for 5,158 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
$111.4K $21.60/SF
− Vacancy
−$6.2K −$1.21/SF
EGI
$105.2K $20.39/SF
− OpEx
−$31.6K −$6.12/SF
NOI
$73.6K $14.27/SF
Area
Essex 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%
$1,472,440
Cap Rate 7%
$1,051,743
Cap Rate 9%
$818,022
Alternative Uses
Best Use
Retail
$1.05M
$920.3K – $1.23M
NOI $73,622 @ 7.0% cap · market cap 6.24%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.35M
$1.18M – $1.57M
NOI $94,280 @ 7.0% cap · market cap 7.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
676
Businesses Nearby
29k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 50%
Dining 46%
Electronics 4%
Dunkin' Donuts
Dining
10,486 visits/mo
0.4 miles
Exxon
Shops & Services
5,304 visits/mo
0.4 miles
Mobil
Shops & Services
4,141 visits/mo
0.2 miles
Chase Bank
Shops & Services
3,389 visits/mo
0.3 miles
Kyoto Sushi
Dining
1,528 visits/mo
0.1 miles
Demographics for 07009, NJ
13,014
Population
5,107
Households
2.5
Avg Household Size
46
Median Age
58%
College-Educated
97%
High-School Grad
4.2 sq mi
ZIP Area
3,099
Density / Sq Mi
$153,654
Median Household Income
$84,065
Median Earnings
$1,693
Median Rent
$600,800
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
- CG Rain Florist — 466 Pompton Ave ste 1, Cedar Grove, NJ 07009
Frequently Asked Questions
What type of property is this?
Storefront property - Commercial building with supplemental basement space, dedicated rear parking, two HVAC units, and two bathrooms.
Where is this storefront property located?
The property is located at 509 Pompton Ave #509 Cedar Grove, NJ.
What is the asking price?
The asking price for this property is $1,180,000.
What are key features of this property?
This property features: Approximately 3058 SQ Ft plus 2100 SF basement; Two AC units and 2 bathrooms; 6 parking spaces behind the building
