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    220 Hanover St Trenton, NJ 08608

    For Sale
    $450,000

    Prime Downtown Trenton Multi-Family

    Property size:
    4,151 SF

    Description

    Added:
    Feb 3, 2025
    Days on Market:
    314
    This exceptional mixed-use property at 220 E Hanover Street, Trenton, NJ, presents a compelling investment opportunity. The 4,151 square foot building sits on a 0.06-acre lot in a prime downtown location, just one block from the New Jersey State Capitol Building. Currently, four of the five units are occupied, offering immediate cash flow. The property features a diverse unit mix: one studio, three one-bedroom units, and one two-bedroom unit. A sizable basement unit provides additional storage space, with potential for rental income or owner use. All leases have expired, providing the new owner with the flexibility to increase rental rates to reflect current market values. The convenient location offers tenants easy access to public transportation, being a short walk from the train station. The building's versatility allows for various uses and potential renovations. The seller covers water and sewage costs, while tenants are responsible for electricity and heating. This turnkey investment is priced at $450,000 and is ready for immediate occupancy and potential upgrades. Don't miss this chance to acquire a valuable asset in a thriving downtown area.

    Property Features for 220 Hanover St

    General Information

    Property type
    Mixed-use properties
    Square Feet
    4,151 SF
    Lot Size
    2,614 SF

    Building Details

    Year Built
    1950
    Location Intelligence

    Current Use by Public Records

    Mixed-use properties

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Trenton
    County
    Mercer
    State
    New Jersey
    Longitude
    -74.76124
    Latitude
    40.22153

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    FAQs

    What type of property is this?
    Mixed-use property - Prime Downtown Trenton Multi-Family
    Where is this mixed-use property located?
    The property is located at 220 Hanover St Trenton, NJ.
    What is the asking price?
    The asking price for this property is $450,000.
    (609) 799-3500
    Request Owner's contact information
    220 Hanover St Trenton, NJ 08608
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    Trenton, NJ 08608
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    220 Hanover St Trenton, NJ 08608
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