Mixed-Use Property with Retail &
For Sale
$799,000
41 Bridge St, Frenchtown, NJ 08825
Fully leased record shop with second-floor two-bedroom apartment plus garage and three reserved parking spaces.
Property Size3,300 SF
Days on Market47
Property Features for 41 Bridge St
General Information
Standard status
Active
Size
3,300 SF
Total Parking Spaces
3
Property subtype
Commercial
Occupancy
100%
Additional Details
Business Included
Yes
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$15,621
Building Details
Building Size
3,300 SF
Year Built
1883
Stories
2
Units
2
Listing Agency:
COLDWELL BANKER REALTY
Listed By:
FREEMAN SMITH · License #261188
(908) 735-8080
Source:
Elliman
Added: Jul 19
Changed: Aug 25
Last Checked: Sep 1 at 8:57PM
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 COLDWELL BANKER REALTY
Investment Insights
Based on property information with market context.
This well-maintained mixed-use property combines an established, fully leased retail record shop with residential rental income. The commercial component is described as turnkey and already in operation, providing immediate income potential for an owner who wants an active business and tenant in place. Upstairs, the second floor features a spacious two-bedroom apartment designed for additional ongoing rental revenue.
The property also includes practical onsite amenities, including a garage, three reserved parking spaces, and a full basement offering storage and additional functional space. Located in Frenchtown Boro in Hunterdon County, the building sits in the heart of this sought-after river town.
As offered, the configuration supports both retail and residential uses under one ownership, with onsite parking and enclosed storage that can help reduce day-to-day operational friction for occupants.
The property also includes practical onsite amenities, including a garage, three reserved parking spaces, and a full basement offering storage and additional functional space. Located in Frenchtown Boro in Hunterdon County, the building sits in the heart of this sought-after river town.
As offered, the configuration supports both retail and residential uses under one ownership, with onsite parking and enclosed storage that can help reduce day-to-day operational friction for occupants.
Key Highlights
- Year built 1883 mixed‑use property with a fully leased, established retail record shop
- Second‑floor 2‑bedroom apartment provides additional rental income
- Includes a garage and three reserved 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
$50,747
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
6.35%
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%
$1,014,940
$1.0M
Cap Rate 7%
$724,957
$725.0K
Cap Rate 9%
$563,856
$563.9K
Market Conditions
NOI Build-Up for 3,300 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
$99.0K $30.00/SF
− Vacancy
−$6.7K −$2.04/SF
EGI
$92.3K $27.96/SF
− OpEx
−$41.5K −$12.58/SF
NOI
$50.7K $15.38/SF
Area
Hunterdon 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%
$1,014,940
Cap Rate 7%
$724,957
Cap Rate 9%
$563,856
Alternative Uses
Best Use
Apartment 5plus
$725.0K
$634.3K – $845.8K
NOI $50,747 @ 7.0% cap · market cap 6.35%
Second Best
Retail
$672.9K
$588.8K – $785.0K
NOI $47,102 @ 7.0% cap · market cap 5.90%
Theoretical Best
Office A
$861.7K
$754.0K – $1.01M
NOI $60,319 @ 7.0% cap · market cap 7.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
100%
Occupancy
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
266
Businesses Nearby
20k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 66%
Groceries 33%
Dining 2%
Citgo
Shops & Services
7,671 visits/mo
0.1 miles
Frenchtown Market IGA
Groceries
6,415 visits/mo
0.3 miles
TD Bank
Shops & Services
5,314 visits/mo
Napoli's Pizza
Dining
336 visits/mo
0.2 miles
Demographics for 08825, NJ
4,494
Population
2,139
Households
2.1
Avg Household Size
48
Median Age
50%
College-Educated
95%
High-School Grad
29.0 sq mi
ZIP Area
155
Density / Sq Mi
$104,750
Median Household Income
$65,850
Median Earnings
$1,639
Median Rent
$471,800
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Fully leased record shop with second-floor two-bedroom apartment plus garage and three reserved parking spaces.
Where is this mixed-use property located?
The property is located at 41 Bridge St Frenchtown, NJ.
What is the asking price?
The asking price for this property is $799,000.
What are key features of this property?
This property features: Year built 1883 mixed‑use property with a fully leased, established retail record shop; Second‑floor 2‑bedroom apartment provides additional rental income; Includes a garage and three reserved parking spaces
