Prime Corner Retail Investment
721-731 Chancellor #ST1-6 Irvington, NJ 07111
721-731 Chancellor #ST1-6, Irvington, NJ, 07111
$1,799,900
For Sale
$1,799,900
High-visibility, income-producing corner property with six fully leased storefronts.
Property Size7,625 SF
Lot Size0.23 Acres
Price / SF$236.05
Days on Market275
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
Listing agency
NEXTHOME PRIME
(201) 630-0025
Listed by
LIONEL CRUZ · License #0681239,PersonLicenseNumber
Source
Corcoran
Added: Oct 21, 2025 Updated: Jul 6 at 10:01AM Checked: Jul 22 at 10:07AM
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
Investment Insights
Based on property information with market context.
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.
Key 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.
Local Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| 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
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
NOI $139,373 @ 7.0% cap · market cap 7.74%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Storefront properties
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Similar Off Market Nearby
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- Maplewood Florist at The Emporium — 290 elmwood ave, maplewood, nj 07040
FAQs
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.
