Corner Restaurant
For Sale
$675,000
591 New Brunswick Avenue, Perth Amboy, NJ 08861
Commercial Sale, Perth Amboy, NJ
Property Size2,600 SF
Lot Size0.06 Acres
Price / SF$259.62
Days on Market204
Property Features for 591 New Brunswick Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
C-1
Parking features
On Street
Lot features
Near Public Transit, Near Shopping, Near Train, Residential Area
Directions
Amboy Ave to New Brunswick Ave
Standard status
Active
APN
1600185000000020
Size
2,600 SF
Lot size
0.06 Acres
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
9390
Utilities
Sewer type
Public Sewer
Heating system
Forced Air
Cooling system
Central Air
Water source
Public
Building Details
Year built
1925
Floors in Building
1
Building materials
Brick
Listing Agency:
KELLER WILLIAMS ELITE REALTORS · Keller Williams Realty
(732) 549-1998
Listed By:
Christopher Egri
(732) 516-8924
Added: Mar 5
Changed: Sep 12
Last Checked: Sep 25 at 12:06AM
MLS# 2611307R
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 2,600-square-foot commercial building is classified as a conventional restaurant property and occupies a 0.0574-acre corner lot. Built in 1925, the brick structure includes forced-air heating, central air, public water, and public sewer. The building is fully leased to two businesses: one operates as a food service establishment, while the other uses its space for warehouse-style operations.
The property is located at 591 New Brunswick Avenue in Perth Amboy, with on-street parking and access to Route 440, the New Jersey Turnpike, Garden State Parkway, Route 287, and Route 35. Perth Amboy train station, the downtown area, waterfront, and local hospital are also nearby. C-1 zoning and the existing two-tenant configuration support its current commercial use.
The property is located at 591 New Brunswick Avenue in Perth Amboy, with on-street parking and access to Route 440, the New Jersey Turnpike, Garden State Parkway, Route 287, and Route 35. Perth Amboy train station, the downtown area, waterfront, and local hospital are also nearby. C-1 zoning and the existing two-tenant configuration support its current commercial use.
Key Highlights
- 2,600‑square‑foot brick commercial building on a 0.0574‑acre corner lot
- Fully leased to two businesses occupying the entire building
- Food service establishment and warehouse‑style operation share the property
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
$39,761
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
5.89%
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%
$795,220
$795.2K
Cap Rate 7%
$568,014
$568.0K
Cap Rate 9%
$441,789
$441.8K
Market Conditions
NOI Build-Up for 2,600 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
$56.2K $21.60/SF
− Vacancy
−$3.1K −$1.21/SF
EGI
$53.0K $20.39/SF
− OpEx
−$13.3K −$5.10/SF
NOI
$39.8K $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%
$795,220
Cap Rate 7%
$568,014
Cap Rate 9%
$441,789
Alternative Uses
Best Use
Specialty Retail
$568.0K
$497.0K – $662.7K
NOI $39,761 @ 7.0% cap · market cap 5.89%
Second Best
Warehouse
$506.2K
$443.0K – $590.6K
NOI $35,437 @ 7.0% cap · market cap 5.25%
Theoretical Best
Office A
$678.9K
$594.1K – $792.1K
NOI $47,524 @ 7.0% cap · market cap 7.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,304
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in Northeast region
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Frequently Asked Questions
What type of property is this?
Conventional restaurant - C-1 commercial property with two occupied business spaces and on-street parking.
Where is this conventional restaurant located?
The property is located at 591 New Brunswick Avenue Perth Amboy, NJ.
What is the asking price?
The asking price for this property is $675,000.
What are key features of this property?
This property features: 2,600‑square‑foot brick commercial building on a 0.0574‑acre corner lot; Fully leased to two businesses occupying the entire building; Food service establishment and warehouse‑style operation share the property
