Two-Story Residential Income
For Sale
$499,995
129 Lakeview Ave, South Plainfield, NJ 07080
The two-story property has forced-air heating and an unfinished interior.
Property Size2,250 SF
Price / SF$222.22
Days on Market109
Property Features for 129 Lakeview Ave
General Information
Standard status
Active
Size
2,250 SF
Property subtype
Residential Income
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$6,986
Amenities
Forced Air, Natural Gas
Unfinished
Shared Driveway
2-Two Story
Building Details
Year Built
1919
Stories
2
Listed By:
REGGIE TRAIL
(908) 731-9385
Source:
Evrealestate
Added: Jul 5
Changed: Oct 21
Last Checked: Oct 21 at 2:19AM
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 REGGIE TRAIL
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Investment Insights
Based on property information with market context.
Built in 1919, this two-story residential income property contains 2,250 square feet. Interior features include forced-air heating powered by natural gas, along with unfinished space. The property also has a shared driveway.
Located at 129 Lakeview Ave in South Plainfield, the property is described as very close to 280.
Located at 129 Lakeview Ave in South Plainfield, the property is described as very close to 280.
Key Highlights
- 2,250 square feet of property area
- Two‑story building constructed in 1919
- Forced‑air heating with natural gas
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$34,601
Cap Rate
6.92%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$692,020
$692.0K
Cap Rate 7%
$494,300
$494.3K
Cap Rate 9%
$384,456
$384.5K
Market Conditions
NOI Build-Up for 2,250 SF
Gross rent
$67.5K $30.00/SF
− Vacancy
−$4.6K −$2.04/SF
EGI
$62.9K $27.96/SF
− OpEx
−$28.3K −$12.58/SF
NOI
$34.6K $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%
$692,020
Cap Rate 7%
$494,300
Cap Rate 9%
$384,456
Alternative Uses
Best Use
Apartment 5plus
$494.3K
$432.5K – $576.7K
NOI $34,601 @ 7.0% cap · market cap 6.92%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$587.5K
$514.1K – $685.4K
NOI $41,126 @ 7.0% cap · market cap 8.23%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
604
Businesses Nearby
Explore this area
Business Placement
Demographics for 07080, NJ
24,261
Population
8,433
Households
2.9
Avg Household Size
41
Median Age
42%
College-Educated
93%
High-School Grad
8.2 sq mi
ZIP Area
2,959
Density / Sq Mi
$126,161
Median Household Income
$61,777
Median Earnings
$1,928
Median Rent
$444,100
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - The two-story property has forced-air heating and an unfinished interior.
Where is this residential income property located?
The property is located at 129 Lakeview Ave South Plainfield, NJ.
What is the asking price?
The asking price for this property is $499,995.
What are key features of this property?
This property features: 2,250 square feet of property area; Two‑story building constructed in 1919; Forced‑air heating with natural gas
