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 Market177
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
(732) 549-9500
Listed By:
Michelle Rizzo · License #243776
(732) 549-9500
Source:
Evrealestate
Added: Feb 20
Changed: Aug 14
Last Checked: Aug 16 at 4:43AM
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 = 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
$30,756
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
3.84%
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%
$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
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
$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 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%
$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.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,836
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
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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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)
