Pharmacy Building with
For Sale
Contact for pricing
98 Ridge Road, North Arlington, NJ 07031
The building includes on-site parking and supports an established pharmacy use within North Arlington’s Ridge Road business corridor.
Property Size8,011 SF
Lot Size0.34 Acres
Price / SF$386.97
Days on Market10
Property Features for 98 Ridge Road
General Information
Standard status
Active
Size
8,011 SF
Lot size
0.34 Acres
Property subtype
Retail
Building Details
Buildings
1
Listing Agency:
The Clinical Group
Listed By:
Randy Horning · License #NJ 0791133
(201) 488-5800
Source:
Crexi
Added: Sep 1
Changed: Sep 9
Last Checked: Sep 10 at 8:16AM
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 The Clinical Group
Investment Insights
Based on property information with market context.
This approximately 8,011-square-foot commercial building occupies an approximately 0.344-acre site, also identified as 15,000 square feet, with on-site parking. The property has supported HB Pharmacy’s pharmacy and prescription-compounding operation since January 2001, providing an established commercial use within the building.
The property is located at 98 Ridge Road in North Arlington’s Ridge Road business corridor, with access to Kearny, Lyndhurst, Belleville, Newark, the Meadowlands and the broader Northern New Jersey metropolitan market. NJ Transit bus service and nearby commuter rail stations contribute to regional connectivity, with Newark Liberty International Airport within the surrounding transportation network.
The existing lease runs through May 31, 2028. The property’s future use remains subject to the lease, tenant surrender, property condition, zoning and governmental approvals.
The property is located at 98 Ridge Road in North Arlington’s Ridge Road business corridor, with access to Kearny, Lyndhurst, Belleville, Newark, the Meadowlands and the broader Northern New Jersey metropolitan market. NJ Transit bus service and nearby commuter rail stations contribute to regional connectivity, with Newark Liberty International Airport within the surrounding transportation network.
The existing lease runs through May 31, 2028. The property’s future use remains subject to the lease, tenant surrender, property condition, zoning and governmental approvals.
Key Highlights
- Approximately 8,011‑square‑foot commercial building
- Approximately 0.344‑acre site, or 15,000 square feet
- On‑site parking included
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
$122,511
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
3.95%
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%
$2,450,220
$2.5M
Cap Rate 7%
$1,750,157
$1.8M
Cap Rate 9%
$1,361,233
$1.4M
Market Conditions
NOI Build-Up for 8,011 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
$173.0K $21.60/SF
− Vacancy
−$9.7K −$1.21/SF
EGI
$163.3K $20.39/SF
− OpEx
−$40.8K −$5.10/SF
NOI
$122.5K $15.29/SF
Area
Bergen County, NJ
Vacancy
5.60%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
25.00%
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%
$2,450,220
Cap Rate 7%
$1,750,157
Cap Rate 9%
$1,361,233
Alternative Uses
Best Use
Specialty Retail
$1.75M
$1.53M – $2.04M
NOI $122,511 @ 7.0% cap · market cap 3.95%
Second Best
Retail
$1.63M
$1.43M – $1.91M
NOI $114,343 @ 7.0% cap · market cap 3.69%
Theoretical Best
Office A
$2.09M
$1.83M – $2.44M
NOI $146,428 @ 7.0% cap · market cap 4.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,173
Businesses Nearby
72k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 41%
Groceries 30%
Dining 28%
Beauty & Spa 1%
Super Foodtown
Groceries
21,714 visits/mo
0.5 miles
Bank of America
Shops & Services
10,880 visits/mo
0.1 miles
Dunkin' Donuts
Dining
10,772 visits/mo
0.3 miles
Chase Bank
Shops & Services
7,036 visits/mo
0.2 miles
Taco Bell
Dining
6,725 visits/mo
0.5 miles
Demographics for 07031, NJ
16,457
Population
6,986
Households
2.4
Avg Household Size
42
Median Age
39%
College-Educated
91%
High-School Grad
2.5 sq mi
ZIP Area
6,583
Density / Sq Mi
$101,493
Median Household Income
$64,840
Median Earnings
$1,706
Median Rent
$464,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Northeast region
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Frequently Asked Questions
What type of property is this?
Drug store - The building includes on-site parking and supports an established pharmacy use within North Arlington’s Ridge Road business corridor.
Where is this drug store located?
The property is located at 98 Ridge Road North Arlington, NJ.
What is the asking price?
The asking price for this property is $3,100,000.
What are key features of this property?
This property features: Approximately 8,011‑square‑foot commercial building; Approximately 0.344‑acre site, or 15,000 square feet; On‑site parking included
