Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    129 Nj-31 Pennington, NJ 08534
    Back to Search
    Property profile & analytics

    129 Nj-31, Pennington, NJ 08534

    View on Map
    • Retail properties & Spaces
    • 10,000 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Isalis / (Bike/Boat/Book/etc) Store
    • Party City / Party Supply Store / (Bike/Boat/Book/etc) Store
    • Skunk Funk / Big Box & Wholesale Store
    • Carl's Trading Co / Hat Shop
    • Bushka's Kitchen LLC / (Bike/Boat/Book/etc) Store

    Property Details for 129 Nj-31

    Property type
    Retail properties & Spaces
    Property subtype
    Retail space

    Description

    This exceptional retail property at 129 Route 31 North, Unit 2, offers 10,000 square feet of versatile space, perfect for a variety of uses. Currently configured for multiple tenants, two spaces are immediately available, ranging from 1,950 to 2,200 square feet. The property is ideally suited for a cafe, coffee shop, deli, convenience store, bakery, gym, therapy practice, medical office, sales showroom, salon, dry cleaner, or educational facility. The location boasts ample parking and benefits from the adjacency of a liquor store, ensuring high foot traffic and strong public demand. Leasing is available at a rate of $25.00 per square foot, plus CAM (to be determined). The spaces are turnkey ready, allowing for a quick and efficient start to your business. Occupancy is contingent upon the completion of space division. A customary tenant application process is required, along with a two-month security deposit in addition to the first month's rent. Additional retail space is also available within the 10,000 square foot building, offering expansion opportunities for growing businesses. This single-story building presents a fantastic opportunity for businesses seeking a high-visibility location with strong potential for success.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Pennington
    County
    Mercer
    State
    New Jersey
    Longitude
    -74.7978
    Latitude
    40.3569

    Comparable in this City

    • Value Estimation by Request
      1.72 Acres

      129 Nj-31

      Restaurants
      129 Nj-31, Pennington, NJ 08534
      View Details
    • Value Estimation by Request
      10,000 SF

      101 Nj-31

      Restaurants
      101 Nj-31, Pennington, NJ 08534
      View Details
    • Value Estimation by Request

      800F Denow Rd

      Retail properties & Spaces
      800F Denow Rd, Hopewell Township, NJ 08534
      View Details
    • Value Estimation by Request
      10,711 SF

      2 Nj-31

      Retail properties & Spaces
      2 Nj-31, Pennington, NJ 08534
      View Details
    • Value Estimation by Request
      1.72 Acres

      2572 Pennington Rd

      RESTAURANT
      2572 Pennington Rd, Pennington, NJ 08534-3206
      View Details
    • Value Estimation
      $1,420,000
      4,454 SF

      1 Main St

      FINANCIAL BUILDING
      1 Main St, Pennington, NJ 08534-2217
      View Details

    Similar Nearby for Sale

    • $1,198,500

      Turn-Key Restaurant with Income Potential

      Fully operational restaurant and music studio in Pennington Borough.
      12 S Main St, Pennington, NJ 08534
      View Details
    • $1,850,000
      6,236 SF

      Pennington Mixed-Use Gem

      Historic building, prime location, high ROI.
      24 Main St, Pennington, NJ 08534
      View Details
    • Contact for pricing
      1.72 Acres

      Pennington Retail Space - Lease Opportunity

      Turnkey Cafe/Deli Space - High Traffic Area
      129 Route 31, Pennington, NJ 08534
      View Details
    • Contact for pricing
      12,000 SF

      Route 31 Retail Opportunity

      12,000 SF building on almost four acres.
      101 Nj-31, Pennington, NJ 08534
      View Details
    • Contact for pricing
      3,509 SF

      Mixed-Use Property with Bank Lease

      Mixed-use property featuring a bank lease and residential apartments.
      228 W Delaware Ave, Pennington, NJ 08534
      View Details
    • Contact for pricing

      Mixed-Use Restaurant and Office Units

      Two-unit property with a restaurant setup and a separate music studio, plus off-street parking and a shared courtyard.
      12 S Main St, Pennington, NJ 08534
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      10,711 SF

      Pennington Executive Office Space

      Prime Mercer County Office Suites Available
      2 Route 31, Pennington, NJ 08534
      View Details
    • Contact for pricing
      1,913 SF

      Retail Space Available For Rent

      1,913 SF retail space available in Pennington, New Jersey.
      800 Denow Rd, Pennington, NJ 08534
      View Details
    • Contact for pricing

      Historic Pennington Building For Lease

      Handicap accessible, updated building suitable for retail or office.
      24 N Main St, Pennington, NJ 08534
      View Details
    • $5,550 /Mo

      Pennington Retail Space For Rent

      Retail space available in Pennington Square shopping center.
      7 Route 31 N, Pennington, NJ 08534
      View Details
    • $24 SF/Yr
      5,589 SF

      PENNINGTON Retail/Office Space Available

      Handicap accessible retail/office space in central Pennington.
      24 N Main St, Pennington, NJ 08534
      View Details
    • $13 SF/Yr
      71,874 SF

      Pennington Office Building For Lease

      Single-story office building with high visibility and convenient highway access.
      130 Route 31 N, Pennington, NJ 08534
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    129 Nj-31
    Pennington, NJ 08534
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    129 Nj-31, Pennington, NJ, 08534
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!