Belvidere Commercial Building
For Sale
$179,900
627 Third St, Belvidere, NJ 07823
Commercial building in Belvidere with high visibility and flexible space.
Property Size1,190 SF
Lot Size0.12 Acres
Days on Market168
Property Features for 627 Third St
General Information
Standard status
Active
Size
1,190 SF
Lot size
0.12 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$6,228
Building Details
Building Size
1,190 SF
Year Built
1950
Stories
1
Units
1
Listing Agency:
KELLER WILLIAMS REAL ESTATE
(888) 558-3898
Listed By:
JASON FREEBY · License #0559779
Source:
Elliman
Added: Mar 11
Changed: Aug 16
Last Checked: Aug 16 at 10:34AM
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 REAL ESTATE
Investment Insights
Based on property information with market context.
This commercial building is located in a residential area of Belvidere, a few blocks from the school and on one of the main routes through the town. Situated on the corner of Third Street and Oxford, the location offers high visibility from multiple directions. The property includes a parking lot exclusive to the building and two separate commercial glass door entry ways. Inside is a large open area that can be adapted for various business purposes. Storage and utility rooms are located off the main area, along with a lobby and office space accessible from both the interior and exterior. An ADA-compliant bathroom with a handrail is situated at the end of the hall. The flooring throughout the building is a combination of laminate and tile. The space benefits from natural light. The building has a history as a commercial property, previously used as an automotive service station, deli/eatery, convenience store, bakery, and most recently as a karate/yoga studio. All uses will require town approval. The location is close to Route 46 and County Route 519, providing access to Routes 78 & 80.
Key Highlights
- Prominent corner lot location on a main route with high visibility.
- Parking lot exclusive to the building.
- Large, open interior space that can be customized for various business types.
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
$13,675
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
7.60%
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%
$273,500
$273.5K
Cap Rate 7%
$195,357
$195.4K
Cap Rate 9%
$151,944
$151.9K
Market Conditions
NOI Build-Up for 1,190 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
$21.4K $18.00/SF
− Vacancy
−$1.9K −$1.58/SF
EGI
$19.5K $16.42/SF
− OpEx
−$5.9K −$4.92/SF
NOI
$13.7K $11.49/SF
Area
Warren County, NJ
Vacancy
8.80%
Lease Rate
$18.00 /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%
$273,500
Cap Rate 7%
$195,357
Cap Rate 9%
$151,944
Alternative Uses
Best Use
Office B
$267.6K
$234.2K – $312.2K
NOI $18,732 @ 7.0% cap · market cap 10.41%
Second Best
Retail
$195.4K
$170.9K – $227.9K
NOI $13,675 @ 7.0% cap · market cap 7.60%
Theoretical Best
Warehouse
$449.0K
$392.8K – $523.8K
NOI $31,427 @ 7.0% cap · market cap 17.47%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
381
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 07823, NJ
7,102
Population
3,643
Households
1.9
Avg Household Size
53
Median Age
24%
College-Educated
94%
High-School Grad
25.1 sq mi
ZIP Area
283
Density / Sq Mi
$84,381
Median Household Income
$42,805
Median Earnings
$948
Median Rent
$314,600
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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- Fragrant Designs Florist — 322 Front St, Belvidere, NJ 07823
Frequently Asked Questions
What type of property is this?
Storefront property - Commercial building in Belvidere with high visibility and flexible space.
Where is this storefront property located?
The property is located at 627 Third St Belvidere, NJ.
What is the asking price?
The asking price for this property is $179,900.
What are key features of this property?
This property features: Prominent corner lot location on a main route with high visibility.; Parking lot exclusive to the building.; Large, open interior space that can be customized for various business types.
