Live-Work Space with Corner
For Sale
$899,000
801 Hughes Drive, Hamilton, NJ 08609
COMMERCIAL - Hamilton, NJ
Property Size5,100 SF
Lot Size0.33 Acres
Price / SF$176.27
Days on Market85
Property Features for 801 Hughes Drive
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Variance In, Residential, Mixed, Commercial
Rooms
Basement
Parking
7
Parking features
Parking Lot
Exterior features
Lighting
Basement
Partially Finished, Walk-Out Access
Lot features
Level
Directions
801 Hughes
Standard status
Active
APN
03-01569-0000-00001
Size
5,100 SF
Lot size
0.33 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
14202
Utilities
Sewer type
Public Sewer
Heating system
Forced Air
Cooling system
Central Air
Water source
Public
Amenities
handicap accessibility
Building Details
Year built
1989
Floors in Building
2
Flooring type
Wood
Roof type
Shingle
Listing Agency:
RE/MAX Central · RE/MAX International
(732) 972-1000
Listed By:
Matthew Tully · License #2075152
(732) 972-1000
Added: Jun 1
Changed: Aug 7
Last Checked: Aug 24 at 3:06PM
MLS# 22616306
Copyright © 2026 More 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 live-work space offers a mixed residential and commercial setup on a highly visible corner lot. The building is situated on 0.33 acres and totals 5,100 square feet, built in 1989. The second-floor residential unit features wood flooring, soaring ceilings, a spacious living room with a wood-burning fireplace, and skylights for added natural light. The floor plan also includes a formal dining room and an eat-in kitchen with ample cabinetry, a double oven, refrigerator, dishwasher, and cooktop. The primary suite has a private full bathroom with a shower stall, soaking tub, and double-sink vanity, with two additional bedrooms and a second full bathroom.
The first level provides interior access to an oversized 2-car garage and a partially finished basement with approximately 1,500 square feet of additional usable space. The commercial portion is currently configured as a chiropractic office with handicap accessibility, a reception area, a large waiting room, six private patient/exam rooms, and a half bathroom.
The property includes public water and public sewer services, forced-air heating, central air conditioning, and a shingle roof, plus a private 6-car parking lot for convenience.
The first level provides interior access to an oversized 2-car garage and a partially finished basement with approximately 1,500 square feet of additional usable space. The commercial portion is currently configured as a chiropractic office with handicap accessibility, a reception area, a large waiting room, six private patient/exam rooms, and a half bathroom.
The property includes public water and public sewer services, forced-air heating, central air conditioning, and a shingle roof, plus a private 6-car parking lot for convenience.
Key Highlights
- 0.33‑acre corner lot at Hughes Drive and Edinburg Road
- Total 5,100 SF live‑work building built in 1989
- Second‑floor residence with wood floors, wood‑burning fireplace, and skylights
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
$70,820
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
7.88%
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%
$1,416,400
$1.4M
Cap Rate 7%
$1,011,714
$1.0M
Cap Rate 9%
$786,889
$786.9K
Market Conditions
NOI Build-Up for 5,100 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
$150.6K $29.52/SF
− Vacancy
−$32.5K −$6.38/SF
EGI
$118.0K $23.14/SF
− OpEx
−$47.2K −$9.26/SF
NOI
$70.8K $13.89/SF
Area
Mercer County, NJ
Vacancy
21.60%
Lease Rate
$29.52 /SF/Yr
Expense Ratio
40.00%
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%
$1,416,400
Cap Rate 7%
$1,011,714
Cap Rate 9%
$786,889
Alternative Uses
Best Use
Healthcare Medical
$1.01M
$885.3K – $1.18M
NOI $70,820 @ 7.0% cap · market cap 7.88%
Second Best
Mixed Use
$961.7K
$841.5K – $1.12M
NOI $67,320 @ 7.0% cap · market cap 7.49%
Theoretical Best
Warehouse
$1.64M
$1.44M – $1.91M
NOI $114,860 @ 7.0% cap · market cap 12.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Office units
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
95
Businesses Nearby
Explore this area
Business Placement
Demographics for 08609, NJ
14,867
Population
5,347
Households
2.8
Avg Household Size
33
Median Age
10%
College-Educated
72%
High-School Grad
1.3 sq mi
ZIP Area
11,436
Density / Sq Mi
$56,932
Median Household Income
$36,133
Median Earnings
$1,218
Median Rent
$96,700
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Live-work space - Live-work property on a highly visible corner lot with a residential unit upstairs and a chiropractic office below.
Where is this live-work space located?
The property is located at 801 Hughes Drive Hamilton, NJ.
What is the asking price?
The asking price for this property is $899,000.
What are key features of this property?
This property features: 0.33‑acre corner lot at Hughes Drive and Edinburg Road; Total 5,100 SF live‑work building built in 1989; Second‑floor residence with wood floors, wood‑burning fireplace, and skylights
