Mixed-Use Property with Bar
For Sale
$995,000
299 Smith Street, Perth Amboy, NJ 08861
Commercial Sale, Perth Amboy, NJ
Property Size3,304 SF
Lot Size0.06 Acres
Price / SF$301.15
Days on Market69
Property Features for 299 Smith Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
C-1
Parking
3
Parking features
Driveway
Interior features
Fixtures, Refrigeration
Appliances
Refrigeration
Lot features
Corner Lot
Directions
Corner Smith Street and Prospect Street
Standard status
Active
APN
1600070000000029
Size
3,304 SF
Lot size
0.06 Acres
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
11210
Utilities
Sewer type
Public Sewer
Heating system
Forced Air
Cooling system
Central Air, Wall Unit(s)
Water source
Public
Building Details
Year built
1900
Floors in Building
2
Flooring type
Tile, Laminate
Building materials
Stucco
Roof type
Asphalt
Listing Agency:
PETRA BEST REALTY LLC
(732) 442-1400
Listed By:
Enrique Hernandez
(732) 841-7029
Added: Jun 29
Changed: Aug 19
Last Checked: Sep 5 at 12:06AM
MLS# 2618488R
Copyright © 2026 All Jersey MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This mixed-use property at 299 Smith Street includes 3,304 square feet on a 0.0574-acre lot. The sale combines commercial real estate with the established La Vega Bar business and a #33 Liquor License. A spacious 4-bedroom apartment is also part of the property, providing residential space within the mixed-use configuration.
The building was constructed in 1900 and is zoned C-1. Interior features include fixtures and refrigeration, with tile and laminate flooring. The property has forced-air heating, central air, and wall unit cooling. Public water and public sewer serve the site, while a driveway provides on-site parking. Stucco construction and an asphalt roof complete the primary physical details.
The building was constructed in 1900 and is zoned C-1. Interior features include fixtures and refrigeration, with tile and laminate flooring. The property has forced-air heating, central air, and wall unit cooling. Public water and public sewer serve the site, while a driveway provides on-site parking. Stucco construction and an asphalt roof complete the primary physical details.
Key Highlights
- 3,304 square feet on a 0.0574‑acre lot
- Established La Vega Bar business included with the sale
- #33 Liquor License included
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$50,527
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.08%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,010,540
$1.0M
Cap Rate 7%
$721,814
$721.8K
Cap Rate 9%
$561,411
$561.4K
Market Conditions
NOI Build-Up for 3,304 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$71.4K $21.60/SF
− Vacancy
−$4.0K −$1.21/SF
EGI
$67.4K $20.39/SF
− OpEx
−$16.8K −$5.10/SF
NOI
$50.5K $15.29/SF
Area
Middlesex County, NJ
Vacancy
5.60%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,010,540
Cap Rate 7%
$721,814
Cap Rate 9%
$561,411
Alternative Uses
Best Use
Specialty Retail
$721.8K
$631.6K – $842.1K
NOI $50,527 @ 7.0% cap · market cap 5.08%
Second Best
Mixed Use
$408.4K
$357.4K – $476.5K
NOI $28,588 @ 7.0% cap · market cap 2.87%
Theoretical Best
Office A
$862.7K
$754.9K – $1.01M
NOI $60,392 @ 7.0% cap · market cap 6.07%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
2,288
Businesses Nearby
119k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 57%
Groceries 19%
Dining 16%
Electronics 6%
Speedway
Shops & Services
14,643 visits/mo
0.3 miles
PNC Bank
Shops & Services
13,747 visits/mo
0.4 miles
Tropical Supermarket
Groceries
12,887 visits/mo
0.4 miles
Chase Bank
Shops & Services
12,006 visits/mo
0.4 miles
Dunkin' Donuts
Dining
11,568 visits/mo
0.5 miles
Demographics for 08861, NJ
58,039
Population
21,032
Households
2.8
Avg Household Size
35
Median Age
16%
College-Educated
70%
High-School Grad
5.1 sq mi
ZIP Area
11,380
Density / Sq Mi
$60,464
Median Household Income
$34,093
Median Earnings
$1,623
Median Rent
$340,900
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Includes an established bar operation, #33 liquor license, and a four-bedroom apartment.
Where is this mixed-use property located?
The property is located at 299 Smith Street Perth Amboy, NJ.
What is the asking price?
The asking price for this property is $995,000.
What are key features of this property?
This property features: 3,304 square feet on a 0.0574‑acre lot; Established La Vega Bar business included with the sale; #33 Liquor License included
