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361 Kearny Ave 2,340 SF Retail Building Kearny, NJ 07032 $1,800,000 ($769.23/SF) 7% Cap Rate
Investment Highlights
- C-3 zoning with mixed-use redevelopment potential.
- Owner-occupant potential with future upside from retail lease-up plus income from a 24-space, waitlisted parking lot.
- Two contiguous lots totaling 10,600 SF with dual access from Kearny’s main commercial corridor and a residential street.
Executive Summary
Prime Mixed-Use Investment with Redevelopment Potential
Positioned along Kearny’s active main corridor, this distinctive mixed-use property encompasses two contiguous parcels totaling approximately 10,600 SF, offering strong in-place income and exceptional long-term development potential.
The front parcel features a 2,340 SF commercial building currently leased to a successful liquor store operator. The space includes 14-foot ceilings and a full 2,100 SF basement, providing roughly 4,500 SF of total usable area. Zoned C-3 (General Commercial District), the site permits mixed-use redevelopment up to three stories—ideal for adding residential units above ground-floor retail in one of Hudson County’s fastest-growing markets.
The rear parcel, accessible from a quiet residential street, consists of a 7,500 SF paved parking lot with 24 spaces, currently leased at $250 per month per space, generating $6,000 in monthly income ($72,000 annually). The commercial unit offers additional potential retail income of approximately $6,000 per month.
With dual street access, flexible zoning, established tenancy, and strong cash flow, this property presents a rare opportunity to acquire a high-performing asset with meaningful value-add potential in the heart of Kearny’s evolving commercial district.
Positioned along Kearny’s active main corridor, this distinctive mixed-use property encompasses two contiguous parcels totaling approximately 10,600 SF, offering strong in-place income and exceptional long-term development potential.
The front parcel features a 2,340 SF commercial building currently leased to a successful liquor store operator. The space includes 14-foot ceilings and a full 2,100 SF basement, providing roughly 4,500 SF of total usable area. Zoned C-3 (General Commercial District), the site permits mixed-use redevelopment up to three stories—ideal for adding residential units above ground-floor retail in one of Hudson County’s fastest-growing markets.
The rear parcel, accessible from a quiet residential street, consists of a 7,500 SF paved parking lot with 24 spaces, currently leased at $250 per month per space, generating $6,000 in monthly income ($72,000 annually). The commercial unit offers additional potential retail income of approximately $6,000 per month.
With dual street access, flexible zoning, established tenancy, and strong cash flow, this property presents a rare opportunity to acquire a high-performing asset with meaningful value-add potential in the heart of Kearny’s evolving commercial district.
Financial Summary (Pro Forma - 2026) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Pro Forma - 2026) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Building Size
2,340 SF
Building Class
C
Year Built
1957
Price
$1,800,000
Price Per SF
$769.23
Cap Rate
7%
NOI
$126,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.77
Lot Size
0.07 AC
Zoning
C-3 - C-3 / See Documents for Zoning & Use Regulations
Amenities
- Fenced Lot
- Signage
Walk Score®
Walker's Paradise (90)
Nearby Major Retailers
Property Taxes
| Parcel Numbers | Total Assessment | $137,500 (2025) | |
| Land Assessment | $82,500 (2025) | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $55,000 (2025) | Tax Year | 2026 |
Property Taxes
Parcel Numbers
Land Assessment
$82,500 (2025)
Improvements Assessment
$55,000 (2025)
Total Assessment
$137,500 (2025)
Annual Taxes
($1) ($0.00/SF)
Tax Year
2026
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361 Kearny Ave
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