Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1600 Perrineville Rd Monroe Township, NJ 08831

    • Commercial real estate
    • 68,539 SF
    • 14.40 lot acres
    For Lease
    View listing
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US59-1269334
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Commercial real estate

    Property Details for 1600 Perrineville Rd

    Lot size
    14.40 lot acres
    Property size
    68,539 SF
    Property type
    Commercial real estate
    APN
    12 00027- 2-00027- 1
    APU
    12000272000271

    Description

    This exceptional retail opportunity presents itself at Concordia Shopping Center, a well-established shopping center located at 1600 Perrineville Road in Monroe Township, New Jersey, 08831. The property boasts a total of 135,090 square feet of retail space, offering multiple tenancy options. Currently, there are 17,787 square feet of vacant space available, divisible into units ranging from a minimum of 998 square feet to a maximum contiguous space of 6,737 square feet. This provides flexibility for businesses of various sizes. The center benefits from a high volume of traffic and ample parking, with 602 spaces available for customers and tenants. Situated in Middlesex County, this prime location offers excellent visibility and accessibility, making it an ideal choice for retailers seeking a thriving market. The property is classified as an anchored shopping center, indicating a strong tenant mix and established customer base. This presents a unique chance to establish or expand your business within a successful retail environment. Interested parties are encouraged to inquire about available spaces and lease terms.

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $9,885,000
      6.5%
      $9,125,000
      7%
      $8,470,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $13,337,000
      Market price range: $3.69M - $13.3M

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $15,840,000
      Current use
      OFFICE BUILDING
      $18,740,000
      Change: +18% Conversion: Easy
      APARTMENT HOUSE (5+ UNITS)
      $16,885,000
      Change: +7% Conversion: Moderate
      INDUSTRIAL (GENERAL)
      $15,260,000
      Change: -4% Conversion: Moderate

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Monroe Township
    County
    Middlesex
    State
    New Jersey
    Longitude
    -74.4394
    Latitude
    40.3164
    CBSA code
    35620
    CBSA name
    NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2022
    $639,739
    $13,680,000
    $10,307,200
    $23,987,200
    -
    $13,680,000
    $10,307,200
    $23,987,200

    Comparable in this City

    • Value Estimation by Request

      Buckelew Ave

      Commercial real estate
      Buckelew Ave, Monroe, NJ 08831
      View Details
    • Value Estimation by Request
      1.00 Acre

      Spotswood Englishtown Rd

      Commercial real estate • 1.00 Acre
      Spotswood Englishtown Rd, Monroe, NJ 08831
      View Details
    • Value Estimation by Request
      6.41 Acres

      Spotswd-Eng Rd

      Commercial real estate • 6.41 Acres
      Spotswd-Eng Rd, Monroe, NJ 08831
      View Details
    • Value Estimation by Request
      2.00 Acres

      Englishtown Rd

      Commercial real estate • 2.00 Acres
      Englishtown Rd, Monroe, NJ 08831
      View Details
    • Value Estimation by Request

      623 Spotswood Englishtown Rd

      Commercial real estate
      623 Spotswood Englishtown Rd, Monroe, NJ 08831
      View Details
    • Value Estimation by Request
      3.30 Acres

      Mounts Mills Rd

      Commercial real estate • 3.30 Acres
      Mounts Mills Rd, Monroe, NJ 08831
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Prime Monroe Office Space - Route 33

      Newly renovated, 6-office suite, ideal location.
      State Route 33, Monroe, NJ 08831
      View Details
    • $850,000
      1.00 Acre

      Monroe Commercial Property - Live & Work

      Spacious home, large garage, ideal business location.
      Spotswood Englishtown Rd, Monroe, NJ 08831
      View Details
    • $3,200,000

      Route 33 Commercial Land Opportunity

      Prime 3-acre development site in Monroe Township, NJ
      950 State Rte 33 Hwy, Monroe Township, NJ 08831
      View Details
    • $2,950,000
      5.00 Acres

      Monroe Commercial Land - 6.4 Acres

      Prime Monroe location, high-growth corridor. Development opportunity.
      Butcher Rd, Monroe, NJ 08831
      View Details
    • Contact for pricing
      6.41 Acres

      Monroe NJ Commercial End Cap

      Prime 3000 SF End Cap Space, Monroe NJ
      Spotswd-Eng Rd, Monroe, NJ 08831
      View Details
    • $2,175,000
      5,036 SF

      Prime Monroe Township Commercial Land

      Restaurant/Bar w/Liquor License & Apartments
      299 Spotswd-Engtwn Rd Rd, Monroe Township, NJ 08831
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      135,090 SF

      Concordia Shopping Center: Monroe Twp, NJ

      Retail Space Available: High-Traffic Monroe Location
      1600 Perrineville Rd, Monroe Township, NJ 08831
      View Details
    • $3 SF/Yr
      12,546 SF

      Prime Monroe Township Commercial Land

      1.9-acre lot, 1-story building, 5 parking spaces
      393 Davidsons Mill Rd, Monroe Township, NJ 08831
      View Details
    • Contact for pricing
      11,000 SF

      Monroe Crossing Retail Space

      Prime Monroe Township Retail Opportunity
      33 And Joan Warren Way, Monroe Township, NJ 08831
      View Details
    • Contact for pricing
      165,458 SF

      Industrial Space Near NJ Turnpike

      Available industrial space with convenient access to major highways.
      17 S Middlesex Ave, Monroe Township, NJ 08831
      View Details
    • Contact for pricing
      400,000 SF

      Industrial Warehouse Space For Lease

      400,000 square foot logistics facility near NJ Turnpike.
      201 Middlesex Center Blvd, Monroe Township, NJ 08831
      View Details
    • $650 /Mo
      200 SF

      Modern Office Space For Rent

      Clean, bright office space with utilities included and ample parking.
      623 Georges Rd, Monroe, NJ 08831
      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.
    1600 Perrineville Rd
    Monroe Township, NJ 08831
    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

    Google sign-in failed. Please try again or use another login method.