Prime Corner Retail Investment Opportunity

721-731 Chancellor #ST1-6, Irvington, NJ 07111

View on Map

For Sale

$1,799,900

High-visibility, income-producing corner property with six fully leased storefronts.

Type:Commercial

Property size:

7,625 SF

Lot size:

0.23 Acres

Price / SF:

$236/SF

HighLights

Prime corner location at a high‑visibility intersection (Chancellor Avenue and Union Avenue).
Income‑producing property with six fully leased retail storefronts.
Long‑term, established tenants providing consistent, reliable income.
Strategically located near I‑78, the Garden State Parkway, and public transportation.
Approximately 7,625 sq. ft. on a 0.23‑acre lot (10,010 sq. ft.).
Rear loading area for convenient deliveries and operations.

We can help!

Listing Contact

LIONEL CRUZ

For Sale

$1,799,900

High-visibility, income-producing corner property with six fully leased storefronts.

Type:Commercial

Property size:

7,625 SF

Lot size:

0.23 Acres

Price / SF:

$236/SF

Added:: Oct 21, 2025
Days on Market:: 231
Last Refresh:: Apr 5 at 8:29 pm

Property Features for 721-731 Chancellor #ST1-6

General Information

Standard status: Active
Size: 7,625 SF
Lot size: 0.23 Acres
Property subtype: Commercial

We can help!

Listing Contact

LIONEL CRUZ

Listing agent LIONEL CRUZ License #0681239,PersonLicenseNumber

Listing office NEXTHOME PRIME

Listing date Oct 21, 2025

Source Corcoran

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 NEXTHOME PRIME

HighLights

Prime corner location at a high‑visibility intersection (Chancellor Avenue and Union Avenue).
Income‑producing property with six fully leased retail storefronts.
Long‑term, established tenants providing consistent, reliable income.
Strategically located near I‑78, the Garden State Parkway, and public transportation.
Approximately 7,625 sq. ft. on a 0.23‑acre lot (10,010 sq. ft.).
Rear loading area for convenient deliveries and operations.

Overview

This commercial investment opportunity is located at the intersection of Chancellor Avenue and Union Avenue in Irvington, NJ. The property includes approximately 7,625 sq. ft. of space on a 0.23-acre lot (10,010 sq. ft.). It features six fully leased retail storefronts, occupied by long-term tenants, providing consistent income. The property also includes a rear loading area for deliveries and day-to-day operations. The corner location provides dual frontage and exposure along a retail corridor. The property is strategically located near I-78, the Garden State Parkway, and public transportation. The property is located in a market experiencing revitalization and commercial growth.

Local Financial Insights For Retail

Simulate Cap Rate and NOI

NOI Build-Up

Component	$	$/SF
Gross rent	$164.7k	$21.60
− Vacancy	−$9.2k	−$1.21
EGI	$155.5k	$20.39
− OpEx	−$46.6k	−$6.12
NOI	$108.8k	$14.27

7,625 SF · lease $21.60/SF/yr · vacancy 5.60% · expense 30.00%

Alternative Uses

Best Use

Retail

$1.55M

$1.36M – $1.81M (±1% cap)

NOI $108,834 @ 7.0% cap · market cap 6.05%

Second Best

—

no second resolved use

Theoretical Best

Office A

$1.99M

$1.74M – $2.32M (±1% cap)

NOI $139,373 @ 7.0% cap · market cap 7.74%

Zoning and permitted uses should be independently verified with local authorities.

Property Profile Location Intelligence

Current Use by Public Records

Storefront properties

Suggested Use

Similar Places Nearby

Irvington Flower Shop — 43 Dupont Pl, Irvington, NJ 07111
Jaeger Florist — 1083 Springfield Avenue Springfield, 1083 Springfield Ave, Irvington, NJ 07111
Maplewood Florist at The Emporium — 290 elmwood ave, maplewood, nj 07040

Location Insight

Map
Local Demand

City: Irvington
County: Essex
State: New Jersey
Longitude: -74.2381
Latitude: 40.716

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For sale
Storefront properties
NJ
Irvington
07111
721-731 Chancellor #ST1-6

What type of property is this?

Storefront property - High-visibility, income-producing corner property with six fully leased storefronts.

Where is this storefront property located?

The property is located at 721-731 Chancellor #ST1-6 Irvington, NJ.

What is the asking price?

The asking price for this property is $1,799,900.

What are key features of this property?

This property features: Prime corner location at a high‑visibility intersection (Chancellor Avenue and Union Avenue).; Income‑producing property with six fully leased retail storefronts.; Long‑term, established tenants providing consistent, reliable income.