Multifamily
For Sale
$799,900
Pending
111 Center St, Metuchen, NJ 08840
A 1930-built multifamily property with residential mechanical features and on-street parking.
Property Size2,000 SF
Days on Market235
Property Features for 111 Center St
General Information
Standard status
Pending
Size
2,000 SF
Property subtype
Residential Income
Zoning
BUYER SHOULD VERIFY
Taxes and HOA fees
Annual Taxes
$11,608
Amenities
Ceiling Fan(s), Window Unit(s)
Baseboard, Hot Water, Radiant, Natural Gas
Full, Exterior Entry
On Street
Other
Building Details
Building Size
2,000 SF
Year Built
1930
Listing Agency:
RE/MAX Welcome Home
Listed By:
Michelle Rizzo · License #NJ85
(732) 549-9500
Source:
Evrealestate
Added: Feb 20
Changed: Oct 10
Last Checked: Oct 12 at 7:38PM
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 RE/MAX Welcome Home
Investment Insights
Based on property information with market context.
This multifamily property contains approximately 2,000 square feet and was built in 1930. Interior features include ceiling fans, window unit(s), baseboard, hot water, radiant, and natural gas systems. The property also includes a full feature with exterior entry.
Located at 111 Center St in Metuchen, Middlesex County, New Jersey, the property offers on-street parking. Access from Central Avenue follows Maple Avenue to Center Street.
Located at 111 Center St in Metuchen, Middlesex County, New Jersey, the property offers on-street parking. Access from Central Avenue follows Maple Avenue to Center Street.
Key Highlights
- Approximately 2,000 square feet of multifamily property
- Built in 1930
- Ceiling fans and window unit(s)
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$30,756
Cap Rate
3.84%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$615,120
$615.1K
Cap Rate 7%
$439,371
$439.4K
Cap Rate 9%
$341,733
$341.7K
Market Conditions
NOI Build-Up for 2,000 SF
Gross rent
$60.0K $30.00/SF
− Vacancy
−$4.1K −$2.04/SF
EGI
$55.9K $27.96/SF
− OpEx
−$25.2K −$12.58/SF
NOI
$30.8K $15.38/SF
Area
Middlesex County, NJ
Vacancy
6.80%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$615,120
Cap Rate 7%
$439,371
Cap Rate 9%
$341,733
Alternative Uses
Best Use
Apartment 5plus
$439.4K
$384.5K – $512.6K
NOI $30,756 @ 7.0% cap · market cap 3.84%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$522.2K
$457.0K – $609.3K
NOI $36,557 @ 7.0% cap · market cap 4.57%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,902
Businesses Nearby
Explore this area
Business Placement
Demographics for 08840, NJ
17,841
Population
6,552
Households
2.7
Avg Household Size
42
Median Age
62%
College-Educated
95%
High-School Grad
3.2 sq mi
ZIP Area
5,575
Density / Sq Mi
$150,938
Median Household Income
$72,765
Median Earnings
$1,994
Median Rent
$517,700
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 Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Multifamily property - A 1930-built multifamily property with residential mechanical features and on-street parking.
Where is this multifamily property located?
The property is located at 111 Center St Metuchen, NJ.
What is the asking price?
The asking price for this property is $799,900.
What are key features of this property?
This property features: Approximately 2,000 square feet of multifamily property; Built in 1930; Ceiling fans and window unit(s)
