Three-Unit Retail
For Sale
Contact for pricing
512 Paterson Plank Rd, Jersey City, NJ 07307
Freestanding commercial property with multiple units and full occupancy.
Property Size10,000 SF
Price / SF$399
Days on Market215
Property Features for 512 Paterson Plank Rd
General Information
Standard status
Active
Size
10,000 SF
Class
C
Property subtype
Retail
Zoning
C
Occupancy
100%
Lease Type
NNN
Investment Type
Core+
Net Operating Income
$285,000
Building Details
Year Built
2018
Year Renovated
2024
Buildings
1
Stories
3
Units
1
Tenancy
Single
Listing Agency:
Keller Williams City Views
Listed By:
Nadine Khalil · License #1862990
Source:
Crexi
Added: Jan 28
Changed: Aug 30
Last Checked: Aug 30 at 1:06AM
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 Keller Williams City Views
Investment Insights
Based on property information with market context.
This freestanding retail property at 512 Paterson Plank Rd in Jersey City comprises 10,000 square feet arranged across three units. The building is currently 100% occupied and is offered as a retail asset.
The property is located in Jersey City, New Jersey, within the Northern New Jersey area. Its three-unit configuration provides a defined commercial layout, while the existing occupancy offers an established operating profile for the next owner.
The property is located in Jersey City, New Jersey, within the Northern New Jersey area. Its three-unit configuration provides a defined commercial layout, while the existing occupancy offers an established operating profile for the next owner.
Key Highlights
- 10,000 SF freestanding retail building
- Three‑unit commercial configuration
- Currently 100% occupied
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
$165,249
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
4.13%
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%
$3,304,980
$3.3M
Cap Rate 7%
$2,360,700
$2.4M
Cap Rate 9%
$1,836,100
$1.8M
Market Conditions
NOI Build-Up for 10,000 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
$258.0K $25.80/SF
− Vacancy
−$21.9K −$2.19/SF
EGI
$236.1K $23.61/SF
− OpEx
−$70.8K −$7.08/SF
NOI
$165.2K $16.52/SF
Area
Jersey City, NJ
Vacancy
8.50%
Lease Rate
$25.80 /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%
$3,304,980
Cap Rate 7%
$2,360,700
Cap Rate 9%
$1,836,100
Alternative Uses
Best Use
Retail
$2.36M
$2.07M – $2.75M
NOI $165,249 @ 7.0% cap · market cap 4.13%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$3.24M
$2.84M – $3.78M
NOI $226,951 @ 7.0% cap · market cap 5.67%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
3,005
Businesses Nearby
94k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 46%
Dining 40%
Groceries 12%
Electronics 1%
McDonald's
Dining
19,026 visits/mo
0.1 miles
BP
Shops & Services
15,684 visits/mo
0.4 miles
KFC
Dining
12,034 visits/mo
0.2 miles
Fine Fare
Groceries
10,861 visits/mo
0.1 miles
AutoZone
Shops & Services
10,775 visits/mo
0.1 miles
Demographics for 07307, NJ
44,247
Population
18,762
Households
2.4
Avg Household Size
35
Median Age
46%
College-Educated
87%
High-School Grad
1.9 sq mi
ZIP Area
23,288
Density / Sq Mi
$80,745
Median Household Income
$52,729
Median Earnings
$1,708
Median Rent
$574,000
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 - Freestanding commercial property with multiple units and full occupancy.
Where is this retail space located?
The property is located at 512 Paterson Plank Rd Jersey City, NJ.
What is the asking price?
The asking price for this property is $3,999,999.
What are key features of this property?
This property features: 10,000 SF freestanding retail building; Three‑unit commercial configuration; Currently 100% occupied
