Financial
Distress signals
Property profile

238 W Delaware Ave Pennington, NJ 08534

FOR LEASE
Other commercial real estate
Property ID
US59-2122459
1,479 SF 0.62 ac lot
Last sale Oct 1992 · $275,000
Entity Owned Owner of record is a legal entity (LLC / corporation). 13-yr Hold Held for 13 years. Free & Clear No active or open recorded mortgage detected.
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Property summary

AI-generated overview

Constructed in 1937, this commercial building sits on a 0.62-acre lot and includes an on-site lighted, paved parking lot. The property is located near a state highway and within an area offering nearby civic and commercial amenities, including a municipal library, public middle and high schools, and the Pennington Market Complex, as well as shops, cafes, and parks. The available second-floor space is configured with a private entrance, private offices, and open work areas.

Ownership intelligence

Who controls the opportunity?

Owner of record from public deeds, plus portfolio, hold profile and investor signals where the data supports them. In the full report.

Owner contacts

Can we reach the decision maker?

Skip-traced phones and e-mails of the owner. Included with the full report.

Mortgages

What is owed, to whom, and when it comes due

Recorded lenders, amounts and estimated maturities of the owner's loan book — in the full report.

Property tax · 2022

What does the county charge?
$23k
Tax billed · 2022
Assessed value · 2023$795k
Assessed land$187k
Assessed improvement$608k
Effective rate2.83%

Value estimate

· Sep 2026
$290k
$261k – $319k
AI approach$320k
NOI build-up
Gross scheduled income$65k
Vacancy & credit loss−$7k
Operating expenses−$14k
NOI · 140.75% cap applied$43k

Realmo valuation models over county records and 6 qualifying comparable sales.

Recently sold

What actually traded nearby?
$111/SF
County average, outlier-cleaned · 839 recorded sales of this use type
Observed band · Q1–Q3$53 – $188
Qualifying comparables6

Cap rate analysis

How does the asset earn?
140.75%
$43k estimated NOI · market benchmarks for this use type

Price anchors at 6 / 6.5 / 7% — in the full report.

Zoning insight

What can be built here?
B-H
The intent of this zone is to promote highway commercial uses
General categoryCOMMERCIAL
JurisdictionMERCER

Location intelligence

Which uses thrive at this corner?
Best fit: Building Supply
Demand heat for this use is drawn on the map · LocInt grid
Demand index
Building Supply17.6
Wholesale Shop15.9
Auto Parts Store13.0

Location

238 W Delaware Ave Pennington, NJ 08534
County assessor Recorded deeds · 3 transfers 6 qualifying comp sales Zoning catalog

Every figure names its source: public record, benchmark, or modeled. Coverage varies by property — thin data is stated as missing, never invented.

Comparables

6 recorded sales · 6 properties nearby
Recent sales nearby
6 recorded sales in this ZIP, last 8 years
Address Sale price Sold Size
2405 Pennington, Pennington, NJ 08534-5215 $340,000 Oct 2024 1,932 SF
8 Main, Pennington, NJ 08534-2218 $370,000 Oct 2024 1,656 SF
15-17 Main, Pennington, NJ 08534-2217 $410,000 Apr 2024 1,944 SF
Del, Pennington, NJ 08534 $265,000 Nov 2023 1,621 SF
78 Rte 31st N, Pennington, NJ 08534-3606 $300,000 Aug 2022 1,075 SF
Sale prices and dates as our records hold them, one row per building. A deed can cover more of a building than the size shown, so read the price against the size rather than dividing one by the other.
Comparable nearby
6 properties of the same type nearby
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Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
More about this property
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