Triplex with Outdoor
New
For Sale
$849,900
11-13-15 Mageira Street, South River, NJ 08882
Residential Income, South River, NJ
Property Size4,270 SF
Lot Size0.11 Acres
Price / SF$199.04
Days on Market5
Property Features for 11-13-15 Mageira Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R75
Zoning description
Buyer Should Verify
Bathrooms
5
Full bathrooms
5
Rooms
Bathroom 1, Basement, Bathroom 4, Bathroom 2, Bathroom 3, Bathroom 5
Patio and Porch features
Porch, Patio
Interior features
Unit 1(Efficiency, 4 Bedrooms, Kitchen, Laundry Hookup, Living Room, 2+ Baths), Unit 2(2 Bedrooms, Kitchen, 1 Bath, Living Room), Unit 3(4 Bedrooms, Kitchen, Laundry Hookup, Living Room, 2+ Baths)
Exterior features
Barbecue, Patio, Sidewalk, Yard, Porch, Storage Area-Private
Appliances
Water Heater(See Remarks, Gas), Water Heater, Unit 1(Dryer, Range/Oven, Refrigerator, Washer), Unit 2(Range/Oven), Unit 3(Range/Oven)
Lot features
Near Shopping
Elementary school district
South River Borough School Dis
Middle school district
South River Borough School Dis
High school district
South River Borough School Dis
Directions
Off of Whitehead Ave
Standard status
Active
APN
2300284000000009
Size
4,270 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
10689
Utilities
Utilities
Propane
Sewer type
Public Sewer
Heating system
Baseboard, Radiant
Cooling system
Window Unit(s), Ceiling Fan(s), Wall Unit(s)
Water source
Public
Amenities
off-street parking
outdoor space
laundry hookups
Building Details
Year built
1916
Floors in Building
3
Flooring type
Carpet
Building materials
Vinyl Siding
Roof type
Asphalt
Additional Structures
Storage
Listing Agency:
COLDWELL BANKER REALTY · Coldwell Banker Real Estate
(732) 254-3750
Listed By:
Dana Jensen Fernandes
(732) 371-0712
Added: Sep 20
Changed: Sep 23
Last Checked: Sep 24 at 5:06PM
MLS# 2704857R
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 4,270-square-foot triplex sits on a 0.11-acre lot and includes three residential units with separate basement areas for laundry hookups and storage. The property has vinyl siding, asphalt roofing, public water, public sewer, propane service, and a combination of baseboard and radiant heating. Cooling is provided by window, ceiling, and wall units. A patio, porch, yard, sidewalk, barbecue area, and private storage add to the exterior features, while off-street parking supports the residential layout.
Built in 1916, the property is zoned R75 and includes a vacant end unit. The existing configuration may offer potential for a fourth unit, subject to municipal approvals and buyer due diligence. The property is near parks, restaurants, coffee shops, bakeries, shopping, and major highways in South River, New Jersey.
Built in 1916, the property is zoned R75 and includes a vacant end unit. The existing configuration may offer potential for a fourth unit, subject to municipal approvals and buyer due diligence. The property is near parks, restaurants, coffee shops, bakeries, shopping, and major highways in South River, New Jersey.
Key Highlights
- 4,270 SF triplex on a 0.11‑acre lot
- Three residential units with separate basement areas
- Fourth‑unit potential subject to municipal approvals and buyer due diligence
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
$71,463
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
8.41%
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%
$1,429,260
$1.4M
Cap Rate 7%
$1,020,900
$1.0M
Cap Rate 9%
$794,033
$794.0K
Market Conditions
NOI Build-Up for 4,270 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
$109.1K $25.56/SF
− Vacancy
−$7.1K −$1.65/SF
EGI
$102.1K $23.91/SF
− OpEx
−$30.6K −$7.17/SF
NOI
$71.5K $16.74/SF
Area
Middlesex County, NJ
Vacancy
6.46%
Lease Rate
$25.56 /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%
$1,429,260
Cap Rate 7%
$1,020,900
Cap Rate 9%
$794,033
Alternative Uses
Best Use
Multifamily LT 5
$1.02M
$893.3K – $1.19M
NOI $71,463 @ 7.0% cap · market cap 8.41%
Second Best
Apartment 5plus
$938.1K
$820.8K – $1.09M
NOI $65,664 @ 7.0% cap · market cap 7.73%
Theoretical Best
Office A
$1.11M
$975.6K – $1.30M
NOI $78,049 @ 7.0% cap · market cap 9.18%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
603
Businesses Nearby
Explore this area
Business Placement
Demographics for 08882, NJ
16,118
Population
5,789
Households
2.8
Avg Household Size
39
Median Age
31%
College-Educated
86%
High-School Grad
2.8 sq mi
ZIP Area
5,756
Density / Sq Mi
$101,853
Median Household Income
$51,323
Median Earnings
$1,599
Median Rent
$382,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Three-family property with separate basement areas, laundry hookups, off-street parking, and a patio, porch, and yard.
Where is this triplex located?
The property is located at 11-13-15 Mageira Street South River, NJ.
What is the asking price?
The asking price for this property is $849,900.
What are key features of this property?
This property features: 4,270 SF triplex on a 0.11‑acre lot; Three residential units with separate basement areas; Fourth‑unit potential subject to municipal approvals and buyer due diligence
