Two-Unit Duplex with Detached
For Sale
$650,000
Pending
125 Lincoln Avenue, Carteret, NJ 07008
Two distinct units with separate gas and electric meters, full basement, and a large detached garage.
Property Size2,176 SF
Days on Market51
Property Features for 125 Lincoln Avenue
General Information
Standard status
Pending
Size
2,176 SF
Property subtype
General Commercial
Additional Details
Business Included
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$11,138
Amenities
Central Air, Window Air Conditioning
3
Shingle
Parking. Corner Lot.
2 Parking Spaces. On Street.
55 x 100
Corner.
Building Details
Year Built
1940
Listing Agency:
RE/MAX Central
(732) 972-1000
Listed By:
Lori Bocchieri-Bennett · License #564284
(732) 972-1000
Source:
Xome
Added: Jul 4
Changed: Aug 12
Last Checked: Aug 22 at 3:46AM
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 Central
Investment Insights
Based on property information with market context.
This two-unit duplex offers separate living spaces with individual gas and electric meters for each unit. The property includes a full basement and a large detached garage, adding practical storage and parking utility. An upstairs walk-up attic is also present and could be finished for additional living space. Recent improvements noted include a roof approximately 15 years old and a water heater approximately two years old.
The duplex is located in Carteret with access to local transit and amenities, including proximity to the Woodbridge Train Station, NJ bus service, grocery stores, and dining options. It is also near Carteret Park, the URSB Performing Arts & Events Center, and the Carteret Waterfront Park and Marina, which features a riverwalk and fishing pier.
One unit is described as having a lease in place with a local dentist, supporting immediate income potential for the right buyer.
The duplex is located in Carteret with access to local transit and amenities, including proximity to the Woodbridge Train Station, NJ bus service, grocery stores, and dining options. It is also near Carteret Park, the URSB Performing Arts & Events Center, and the Carteret Waterfront Park and Marina, which features a riverwalk and fishing pier.
One unit is described as having a lease in place with a local dentist, supporting immediate income potential for the right buyer.
Key Highlights
- 2‑unit property with separate gas and electric meters for each unit
- Full basement plus a large walk‑up attic in the upstairs unit (approx. 700 SF could be finished)
- Large detached garage and on‑street parking (2 parking spaces)
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
$36,418
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
5.60%
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%
$728,360
$728.4K
Cap Rate 7%
$520,257
$520.3K
Cap Rate 9%
$404,644
$404.6K
Market Conditions
NOI Build-Up for 2,176 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
$55.6K $25.56/SF
− Vacancy
−$3.6K −$1.65/SF
EGI
$52.0K $23.91/SF
− OpEx
−$15.6K −$7.17/SF
NOI
$36.4K $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%
$728,360
Cap Rate 7%
$520,257
Cap Rate 9%
$404,644
Alternative Uses
Best Use
Multifamily LT 5
$520.3K
$455.2K – $607.0K
NOI $36,418 @ 7.0% cap · market cap 5.60%
Second Best
Apartment 5plus
$478.0K
$418.3K – $557.7K
NOI $33,463 @ 7.0% cap · market cap 5.15%
Theoretical Best
Office A
$568.2K
$497.2K – $662.9K
NOI $39,774 @ 7.0% cap · market cap 6.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
591
Businesses Nearby
Explore this area
Business Placement
Demographics for 07008, NJ
25,342
Population
8,717
Households
2.9
Avg Household Size
37
Median Age
28%
College-Educated
85%
High-School Grad
4.4 sq mi
ZIP Area
5,760
Density / Sq Mi
$87,712
Median Household Income
$42,770
Median Earnings
$2,012
Median Rent
$370,100
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?
Duplex - Two distinct units with separate gas and electric meters, full basement, and a large detached garage.
Where is this duplex located?
The property is located at 125 Lincoln Avenue Carteret, 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: 2‑unit property with separate gas and electric meters for each unit; Full basement plus a large walk‑up attic in the upstairs unit (approx. 700 SF could be finished); Large detached garage and on‑street parking (2 parking spaces)
