Storefront
New
For Sale
Contact for pricing
51 Main Street, Madison, NJ 07940
Existing business opportunity with a storefront commercial setting.
Property Size1,499 SF
Price / SF$199.47
Days on Market7
Property Features for 51 Main Street
General Information
Standard status
Active
Size
1,499 SF
Property subtype
Business for Sale
Additional Details
Business Included
Yes
Listing Agency:
Julie Realty Group
Listed By:
Julissa Rengifo · License #NJ 2294689
Source:
Crexi
Added: Sep 1
Changed: Sep 4
Last Checked: Sep 7 at 9:46AM
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 Julie Realty Group
Investment Insights
Based on property information with market context.
This storefront property is offered with an existing business and contains 1,499 square feet of commercial space. The property is located at 51 Main Street in Madison, New Jersey.
Key Highlights
- 1,499 square feet of commercial space
- Existing business offered for sale
- Located at 51 Main Street in Madison, NJ 07940
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
$21,396
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
7.16%
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%
$427,920
$427.9K
Cap Rate 7%
$305,657
$305.7K
Cap Rate 9%
$237,733
$237.7K
Market Conditions
NOI Build-Up for 1,499 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
$32.4K $21.60/SF
− Vacancy
−$1.8K −$1.21/SF
EGI
$30.6K $20.39/SF
− OpEx
−$9.2K −$6.12/SF
NOI
$21.4K $14.27/SF
Area
Morris 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%
$427,920
Cap Rate 7%
$305,657
Cap Rate 9%
$237,733
Alternative Uses
Best Use
Retail
$305.7K
$267.5K – $356.6K
NOI $21,396 @ 7.0% cap · market cap 7.16%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$391.4K
$342.5K – $456.7K
NOI $27,399 @ 7.0% cap · market cap 9.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
1,154
Businesses Nearby
39k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 70%
Dining 24%
Home Improvements & Furnishings 4%
Electronics 2%
Chipotle Mexican Grill
Dining
8,549 visits/mo
0.2 miles
Shell
Shops & Services
7,287 visits/mo
0.1 miles
Bank of America
Shops & Services
6,814 visits/mo
0.2 miles
Chase Bank
Shops & Services
5,187 visits/mo
0.0 miles
Sunoco
Shops & Services
4,788 visits/mo
0.1 miles
Demographics for 07940, NJ
18,403
Population
5,733
Households
3.2
Avg Household Size
34
Median Age
71%
College-Educated
97%
High-School Grad
4.9 sq mi
ZIP Area
3,756
Density / Sq Mi
$168,520
Median Household Income
$53,352
Median Earnings
$2,248
Median Rent
$883,200
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?
Storefront property - Existing business opportunity with a storefront commercial setting.
Where is this storefront property located?
The property is located at 51 Main Street Madison, NJ.
What is the asking price?
The asking price for this property is $299,000.
What are key features of this property?
This property features: 1,499 square feet of commercial space; Existing business offered for sale; Located at 51 Main Street in Madison, NJ 07940
