Retail Storefront
For Sale
Contact for pricing
51 Cortlandt Street, Belleville, NJ 07109
Commercial retail building for sale with approximately 5,200 square feet of space.
Property Size5,200 SF
Price / SF$250
Days on Market67
Property Features for 51 Cortlandt Street
General Information
Standard status
Active
Size
5,200 SF
Total Parking Spaces
6
Property subtype
Retail
Additional Details
Highway Access
Yes
Listing Agency:
Weichert Commercial Brokerage Inc Morris Plains
Listed By:
David Williams · License #NJ 0448784
Source:
Crexi
Added: Jul 3
Changed: Aug 23
Last Checked: Sep 7 at 4:32AM
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 Weichert Commercial Brokerage Inc Morris Plains
Investment Insights
Based on property information with market context.
This commercial building for sale offers approximately 5,200 square feet of retail-oriented space. The property is presented as a standalone storefront building suitable for retail tenancy or other commercial use consistent with the existing structure.
Located at 51 Cortlandt Street in Belleville, New Jersey, the building is close to several major roadways, including Routes 21, 280, and 3, as well as the Garden State Parkway and the NJ Turnpike.
For additional site details and configuration specifics, please contact the listing broker.
Located at 51 Cortlandt Street in Belleville, New Jersey, the building is close to several major roadways, including Routes 21, 280, and 3, as well as the Garden State Parkway and the NJ Turnpike.
For additional site details and configuration specifics, please contact the listing broker.
Key Highlights
- Commercial retail building for sale at 51 Cortlandt Street, Belleville, NJ 07109
- Approx. 5,200 SF commercial building
- Listed at $250.00 per SF
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
$74,221
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
5.71%
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%
$1,484,420
$1.5M
Cap Rate 7%
$1,060,300
$1.1M
Cap Rate 9%
$824,678
$824.7K
Market Conditions
NOI Build-Up for 5,200 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
$112.3K $21.60/SF
− Vacancy
−$6.3K −$1.21/SF
EGI
$106.0K $20.39/SF
− OpEx
−$31.8K −$6.12/SF
NOI
$74.2K $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%
$1,484,420
Cap Rate 7%
$1,060,300
Cap Rate 9%
$824,678
Alternative Uses
Best Use
Retail
$1.06M
$927.8K – $1.24M
NOI $74,221 @ 7.0% cap · market cap 5.71%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.36M
$1.19M – $1.58M
NOI $95,048 @ 7.0% cap · market cap 7.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,379
Businesses Nearby
123k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 78%
Dining 12%
Home Improvements & Furnishings 6%
Electronics 3%
Dollar Tree
Shops & Services
25,104 visits/mo
0.1 miles
QuickChek
Shops & Services
24,277 visits/mo
0.4 miles
Dollar General
Shops & Services
13,963 visits/mo
0.5 miles
Bank of America
Shops & Services
13,136 visits/mo
0.3 miles
Family Dollar
Shops & Services
10,511 visits/mo
0.1 miles
Demographics for 07109, NJ
38,078
Population
15,045
Households
2.5
Avg Household Size
39
Median Age
31%
College-Educated
87%
High-School Grad
3.3 sq mi
ZIP Area
11,539
Density / Sq Mi
$90,164
Median Household Income
$47,446
Median Earnings
$1,596
Median Rent
$405,500
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Commercial retail building for sale with approximately 5,200 square feet of space.
Where is this retail space located?
The property is located at 51 Cortlandt Street Belleville, NJ.
What is the asking price?
The asking price for this property is $1,300,000.
What are key features of this property?
This property features: Commercial retail building for sale at 51 Cortlandt Street, Belleville, NJ 07109; Approx. 5,200 SF commercial building; Listed at $250.00 per SF
