9.5 Acres Commercial Land
For Sale
Contact for pricing
723 RT-57, Greenwich Township, NJ 08886
9.5 acres with commercial and agricultural zoning, two buildings.
Property Size10,000 SF
Lot Size9.50 Acres
Price / SF$120
Days on Market1327
Property Features for 723 RT-57
General Information
Standard status
Active
Size
10,000 SF
Lot size
9.50 Acres
Property subtype
Retail, Land
Listing Agency:
Paranee Property Management
Listed By:
Joe Paranee · License #RB068724
Source:
Crexi
Added: Jan 25, 2023
Changed: Sep 8
Last Checked: Sep 12 at 6:46AM
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 Paranee Property Management
Investment Insights
Based on property information with market context.
This property presents a rare opportunity to purchase 9.5 acres, with 4.5 acres zoned commercial and an additional 5 acres zoned agriculturally. The site features over 500 feet of road frontage and includes two separate buildings. One building offers 10,000 +/- square feet and has roll-up doors for access. The other is a steel building with 5,000 +/- square feet. Located on Route 57 in Stewartsville, New Jersey, the site provides access to major highways and routes in the area, including 78, 22, 519, and 31. The site would lend itself to a multitude of different applications.
Key Highlights
- Total of 9.5 acres of land, with 4.5 acres commercially zoned and an additional 5 acres agriculturally zoned.
- Located on Rt 57 in Stewartsville, NJ, providing excellent access to major highways (78, 22, 519, 31).
- 10,000 +/- sq ft building with roll‑up door access.
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
$70,151
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
5.85%
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%
$1,403,020
$1.4M
Cap Rate 7%
$1,002,157
$1.0M
Cap Rate 9%
$779,456
$779.5K
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
$90.0K $9.00/SF
− Vacancy
−$7.5K −$0.75/SF
EGI
$82.5K $8.25/SF
− OpEx
−$12.4K −$1.24/SF
NOI
$70.2K $7.02/SF
Area
Cumberland County, NJ
Vacancy
8.30%
Lease Rate
$9.00 /SF/Yr
Expense Ratio
15.00%
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%
$1,403,020
Cap Rate 7%
$1,002,157
Cap Rate 9%
$779,456
Alternative Uses
Best Use
Retail
$1.72M
$1.51M – $2.01M
NOI $120,708 @ 7.0% cap · market cap 10.06%
Second Best
Warehouse
$1.00M
$876.9K – $1.17M
NOI $70,151 @ 7.0% cap · market cap 5.85%
Theoretical Best
Office A
$15.02M
$13.14M – $17.52M
NOI $1,051,056 @ 7.0% cap · market cap 87.59%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
43
Businesses Nearby
Explore this area
Business Placement
Demographics for 08886, NJ
6,697
Population
2,250
Households
3
Avg Household Size
43
Median Age
51%
College-Educated
98%
High-School Grad
15.5 sq mi
ZIP Area
432
Density / Sq Mi
$157,850
Median Household Income
$61,952
Median Earnings
$1,846
Median Rent
$424,000
Median Home Value
Market
Vacancy Rate% for Industrial in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Commercial land - 9.5 acres with commercial and agricultural zoning, two buildings.
Where is this commercial land located?
The property is located at 723 RT-57 Greenwich Township, NJ.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: Total of 9.5 acres of land, with 4.5 acres commercially zoned and an additional 5 acres agriculturally zoned.; Located on Rt 57 in Stewartsville, NJ, providing excellent access to major highways (78, 22, 519, 31).; 10,000 +/- sq ft building with roll‑up door access.
