Automotive Garage with Residential
For Sale
$650,000
1570 PRINCETON AVENUE, Trenton, NJ 08638
Versatile property with service station and spacious home.
Property Size2,592 SF
Price / SF$250.77
Days on Market659
Property Features for 1570 PRINCETON AVENUE
General Information
Standard status
Active
Size
2,592 SF
Property subtype
Mixed Use
Taxes and HOA fees
Annual Taxes
$18,336
Amenities
3
Parking.
Lot.
0.00 x 0.00
Other.
Building Details
Year Built
1920
Listing Agency:
Princeton
(609) 921-1411
Listed By:
Coldwell Banker Residential Brokerage
(973) 903-6777
Source:
Xome
Added: Nov 18, 2024
Changed: Sep 5
Last Checked: Sep 8 at 4:51AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Princeton
Investment Insights
Based on property information with market context.
Located at the corner of Princeton Avenue and Spruce Street, this property features a 2,592-square-foot service station suitable for any automotive business. The service station includes four garage doors: two front overhead doors measuring 11' 6" and 10' 7" high, and two rear overhead doors measuring 11' 6" and 10' high. It is equipped with two lifts, including an in-ground lift, and provides ample space for various repair services. Parking is available at the rear of the property. Adjacent to Lawrence Township, the property offers exposure in a prime Trenton location. In addition to the service station, the property includes a spacious home that can be restored for use as a residence or rental property. This property is suitable for business or investment purposes, offering both commercial and residential potential.
Key Highlights
- Prime corner location on Princeton Ave and Spruce St. with high exposure, adjacent to Lawrence Township.
- 2,592 sq. ft. service station ideal for any automotive business.
- Four garage doors (two front, two rear) with heights ranging from 10' to 11' 6".
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
$48,492
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
7.46%
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%
$969,840
$969.8K
Cap Rate 7%
$692,743
$692.7K
Cap Rate 9%
$538,800
$538.8K
Market Conditions
NOI Build-Up for 2,592 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
$74.6K $28.80/SF
− Vacancy
−$5.4K −$2.07/SF
EGI
$69.3K $26.73/SF
− OpEx
−$20.8K −$8.02/SF
NOI
$48.5K $18.71/SF
Area
Mercer County, NJ
Vacancy
7.20%
Lease Rate
$28.80 /SF/Yr
Expense Ratio
30.00%
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%
$969,840
Cap Rate 7%
$692,743
Cap Rate 9%
$538,800
Alternative Uses
Best Use
Industrial
$692.7K
$606.2K – $808.2K
NOI $48,492 @ 7.0% cap · market cap 7.46%
Second Best
Retail
$553.7K
$484.5K – $646.0K
NOI $38,761 @ 7.0% cap · market cap 5.96%
Theoretical Best
Warehouse
$833.9K
$729.7K – $972.9K
NOI $58,376 @ 7.0% cap · market cap 8.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,378
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 08638, NJ
23,548
Population
10,148
Households
2.3
Avg Household Size
38
Median Age
31%
College-Educated
89%
High-School Grad
5.4 sq mi
ZIP Area
4,361
Density / Sq Mi
$65,650
Median Household Income
$40,374
Median Earnings
$1,499
Median Rent
$226,700
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Auto shop - Versatile property with service station and spacious home.
Where is this auto shop located?
The property is located at 1570 PRINCETON AVENUE Trenton, NJ.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: Prime corner location on Princeton Ave and Spruce St. with high exposure, adjacent to Lawrence Township.; 2,592 sq. ft. service station ideal for any automotive business.; Four garage doors (two front, two rear) with heights ranging from 10' to 11' 6".
