Commercial Development Site With
For Sale
$2,499,999
62 RUTGERS ST Unit 0, Belleville, NJ 07109
Three-parcel site with two vacant lots and one existing commercial building, offering flexible redevelopment options.
Property Size6,861 SF
Price / SF$364.38
Days on Market153
Property Features for 62 RUTGERS ST Unit 0
General Information
Standard status
Active
Size
6,861 SF
Property subtype
General Commercial
Building Details
Year Built
1982
Listing Agency:
AGENCY ON THE AVE
(973) 626-4385
Listed By:
JAMES FRANCIS MCGUIRE · License #311695
(973) 626-4385
Source:
Xome
Added: Mar 7
Changed: Jul 10
Last Checked: Aug 6 at 4:23AM
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 AGENCY ON THE AVE
Investment Insights
Based on property information with market context.
The offering includes three separate parcels totaling approximately 15,000 square feet (150x100 lot). The property comprises two vacant lots and one existing commercial building, giving buyers multiple ways to structure a redevelopment, expansion, or owner-user plan. The combination of cleared development space and an income-related building component supports a range of short- and long-term operational scenarios, subject to approvals.
The parcels are identified as 62, 64, and 68 Rutgers Street, with the listing address noted as 62 Rutgers St Unit 0 in Belleville Township, NJ. Access and viewing are appointment-only, and buyers are directed to complete their own due diligence regarding zoning, approvals, and permitted uses. A land lease is also noted as an option.
This site is best suited for investors or developers seeking flexibility across multiple parcels, as well as owner-users who want the option to incorporate the existing commercial building into future plans. Because zoning and permitted uses are not specified in the information provided, prospective buyers should verify all development and use requirements prior to proceeding. Please do not view any portion of the commercial space without an appointment.
The parcels are identified as 62, 64, and 68 Rutgers Street, with the listing address noted as 62 Rutgers St Unit 0 in Belleville Township, NJ. Access and viewing are appointment-only, and buyers are directed to complete their own due diligence regarding zoning, approvals, and permitted uses. A land lease is also noted as an option.
This site is best suited for investors or developers seeking flexibility across multiple parcels, as well as owner-users who want the option to incorporate the existing commercial building into future plans. Because zoning and permitted uses are not specified in the information provided, prospective buyers should verify all development and use requirements prior to proceeding. Please do not view any portion of the commercial space without an appointment.
Key Highlights
- Three‑parcel site: two vacant lots and one existing commercial building at 62, 64, and 68 Rutgers Street
- Approximately 15,000 sq. ft. total (150 x 100 lot), with lot dimensions listed as 75 x 100 for each parcel
- Zoned Industrial 4B, with Central Business District location noted
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
$97,929
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
3.92%
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%
$1,958,580
$2.0M
Cap Rate 7%
$1,398,986
$1.4M
Cap Rate 9%
$1,088,100
$1.1M
Market Conditions
NOI Build-Up for 6,861 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
$148.2K $21.60/SF
− Vacancy
−$8.3K −$1.21/SF
EGI
$139.9K $20.39/SF
− OpEx
−$42.0K −$6.12/SF
NOI
$97.9K $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%
$1,958,580
Cap Rate 7%
$1,398,986
Cap Rate 9%
$1,088,100
Alternative Uses
Best Use
Retail
$1.40M
$1.22M – $1.63M
NOI $97,929 @ 7.0% cap · market cap 3.92%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.79M
$1.57M – $2.09M
NOI $125,408 @ 7.0% cap · market cap 5.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,321
Businesses Nearby
135k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 76%
Dining 18%
Home Improvements & Furnishings 3%
Electronics 3%
Dollar Tree
Shops & Services
25,104 visits/mo
0.4 miles
QuickChek
Shops & Services
24,277 visits/mo
0.1 miles
Dollar General
Shops & Services
13,963 visits/mo
0.3 miles
Bank of America
Shops & Services
13,136 visits/mo
0.1 miles
Family Dollar
Shops & Services
10,511 visits/mo
0.3 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?
Commercial land - Three-parcel site with two vacant lots and one existing commercial building, offering flexible redevelopment options.
Where is this commercial land located?
The property is located at 62 RUTGERS ST Unit 0 Belleville, NJ.
What is the asking price?
The asking price for this property is $2,499,999.
What are key features of this property?
This property features: Three‑parcel site: two vacant lots and one existing commercial building at 62, 64, and 68 Rutgers Street; Approximately 15,000 sq. ft. total (150 x 100 lot), with lot dimensions listed as 75 x 100 for each parcel; Zoned Industrial 4B, with Central Business District location noted
