New Jersey Commercial Real Estate Prices
Cap rate ranges, price per square foot by county, and current comp bands across every commercial asset class in New Jersey. Ranges compiled from public CBRE, JLL, Cushman & Wakefield, and Marcus & Millichap mid-year 2026 reporting; annotated with broker commentary from Bulldog Broker Group.
Ranges, Not Point Estimates
Every asset trades against its own basis, tenancy, lease term, and physical condition. The ranges below are directional benchmarks — a property-specific Broker Opinion of Value is the only way to price a specific asset.
NJ Is Not New York
Property tax burdens, ISRA environmental review, and the state's fragmented submarket structure produce pricing that reads differently than any neighboring metro. NJ needs its own comp set.
Broker-Grade Analysis
Written by Angelo Mitlo, New Jersey Broker Associate #0894102 under Coldwell Banker Commercial Realty. If you’re buying, selling, or refinancing NJ commercial property, this is the starting benchmark.
Where New Jersey CRE Prices Actually Sit
New Jersey commercial real estate pricing has been in flux since 2022 as institutional capital re-priced across every asset class. Mid-2026 finds the market at a plateau: industrial cap rates have widened from historic lows, office pricing has differentiated sharply between trophy Class A and everything else, retail has tightened at the top end, and multifamily is trading in a narrow band despite rate pressure. Behind every trade is a story of leverage, timing, and how well the buyer underwrote the specific asset — not just the market.
The tables below present current pricing ranges by asset class and by county, plus the four factors that most reliably move NJ commercial real estate values. If you’re looking at a specific property, request a Broker Opinion of Value — a fifteen-minute intake produces a written price band with comps and market context specific to your asset.
Cap Rate Ranges by Asset Class
Directional ranges reflecting mid-year 2026 market conditions. Wider ranges for office reflect the Class A / Class B / Class C divergence still working through the market.
Sources: publicly reported CBRE Marketflash, JLL Perspectives, Cushman & Wakefield MarketBeat, and Marcus & Millichap Q2/Q3 2026 reporting. Ranges are directional — a Broker Opinion of Value is required for any specific property.
Price Per Square Foot by Asset Class
Sale PSF ranges for commercial real estate in New Jersey. Location, condition, and tenancy drive the actual number.
Price Per Square Foot by County
Rough Class B commercial PSF benchmarks across the primary Northern & Central NJ counties. Hudson tops the state; Ocean anchors the low end.
New Jersey Retail Property Pricing
New Jersey retail has been the tightest asset class in the state through 2026. Strip and neighborhood center vacancy dropped below 5 % in Northern NJ; grocery-anchored centers rarely come to market and trade well inside the state-average cap rate range. Single-tenant net-lease retail with national credit tenants (Starbucks, Chipotle, Chase Bank, Wawa) prices at 5.75 – 6.75 % cap depending on term remaining and rent escalations.
Multi-tenant retail strip centers price at 7.00 – 8.50 % — wider band because pricing is highly tenancy-driven. A grocery-anchored strip in Bergen County with 8+ years of average term remaining trades meaningfully tighter than a small-shop strip in a secondary submarket. Sale PSF ranges from $150 – $275 PSFacross most Northern & Central NJ counties, with Hudson County retail (Hoboken, Jersey City) commanding a premium above the range.
For pricing on a specific NJ retail property — including strip centers, single-tenant NNN, mixed-use with ground-floor retail, or shopping centers — request a Broker Opinion of Value with recent county-level comps.
What Drives NJ Commercial Real Estate Prices
Four factors move NJ commercial real estate pricing more than anything else.
Interest Rates
Every 100 basis points of rate movement re-prices roughly 15 – 25 basis points of cap rate. NJ is more institutional than most metros, so it moves faster on rate signals.
Property Taxes
NJ has some of the highest effective property tax rates in the country (2 – 3 % of assessed value is common). Cap rate math is materially different once you back out taxes vs. neighboring states.
ISRA Screening
The Industrial Site Recovery Act (ISRA) applies to sales of properties with specific NAICS codes — mostly industrial and some commercial. Adds a mandatory environmental workstream that can add 60 – 180 days to closing and directly affect pricing.
Submarket Location
A trophy office in Jersey City waterfront trades at a completely different PSF than the same square footage in Union County. Location drives 30 – 50 % of the pricing delta in NJ.
New Jersey is a Ten-Metro-Area State
One of the traps in NJ CRE pricing is treating the state as a single market. It is not. Bergen and Hudson trade like extensions of Manhattan. Central NJ (Middlesex, Somerset) trades on Turnpike-corridor logistics fundamentals. Morris and Union have their own suburban office / medical dynamics. Southern NJ (Camden, Burlington, Gloucester) prices closer to Philadelphia than to Newark.
Any single pricing number quoted for “New Jersey” without a submarket qualifier is essentially meaningless. Our BPO process starts with the submarket comp set, then normalizes for building class, tenancy, and lease structure before producing a price band. That’s the level of granularity a lender, seller, or acquisition committee actually needs.
New Jersey CRE Prices — FAQ
Related Pages
New Jersey Market Overview
Full market coverage across the primary NJ commercial submarkets, plus current listings.
Due Diligence & Transaction Support
Buy-side diligence for NJ acquisitions — ISRA screening, financial review, closing coordination.
CRE Consulting
Portfolio strategy, hold-versus-sell modeling, and BPO advisory for NJ owners and investors.
Need a Price on a Specific NJ Property?
Ranges are directional. A Broker Opinion of Value is a written price band with comps, market context, and broker commentary — delivered inside a week.