Renovated Mixed-Use
For Sale
$975,000
13 N UNION STREET, Lambertville, NJ 08530
Commercial layout includes retail, barber shop, and upper-level office space.
Property Size3,055 SF
Price / SF$319.15
Days on Market18
Property Features for 13 N UNION STREET
General Information
Standard status
Active
Size
3,055 SF
Property subtype
Commercial
Additional Details
Utilities to Site
Yes
Building Details
Year Built
1920
Buildings
1
Tenancy
Multi
Listing Agency:
Callaway Henderson Sotheby's Int'l-Lambertville
(609) 915-2360
Listed By:
Beth M Steffanelli · License #RM424855
(609) 915-2360
Source:
Cummingsrealtors
Added: Aug 3
Changed: Aug 19
Last Checked: Aug 19 at 6:41AM
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 Callaway Henderson Sotheby's Int'l-Lambertville
Investment Insights
Based on property information with market context.
This 3,055-square-foot mixed-use building at 13 N Union Street combines multiple commercial spaces within a renovated 1920 structure. The first-floor storefront features glossy wood flooring, oversized display windows, an updated half bath, and a walk-in storage room. A separate barber shop includes an office, half bath, washroom, utility room, and additional storage, while the upper office suite provides two rooms, a kitchenette, and a full bathroom.
The property sits just off Bridge Street in Lambertville’s Central Business District, with prominent street presence and pedestrian activity. Building improvements include updated bathrooms, upgraded utilities, enhanced electrical service, oversized windows, and finished interior details. The barber shop is fully leased under a graduated rental agreement.
The property sits just off Bridge Street in Lambertville’s Central Business District, with prominent street presence and pedestrian activity. Building improvements include updated bathrooms, upgraded utilities, enhanced electrical service, oversized windows, and finished interior details. The barber shop is fully leased under a graduated rental agreement.
Key Highlights
- 3,055 SF mixed‑use building constructed in 1920
- First‑floor storefront with oversized display windows and walk‑in storage
- Fully leased barber shop with a graduated rental agreement
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
$46,742
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
4.79%
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%
$934,840
$934.8K
Cap Rate 7%
$667,743
$667.7K
Cap Rate 9%
$519,356
$519.4K
Market Conditions
NOI Build-Up for 3,055 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
$91.7K $30.00/SF
− Vacancy
−$29.3K −$9.60/SF
EGI
$62.3K $20.40/SF
− OpEx
−$15.6K −$5.10/SF
NOI
$46.7K $15.30/SF
Area
Hunterdon County, NJ
Vacancy
32.00%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
25.00%
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%
$934,840
Cap Rate 7%
$667,743
Cap Rate 9%
$519,356
Alternative Uses
Best Use
Office B
$667.7K
$584.3K – $779.0K
NOI $46,742 @ 7.0% cap · market cap 4.79%
Second Best
Retail
$622.9K
$545.1K – $726.8K
NOI $43,605 @ 7.0% cap · market cap 4.47%
Theoretical Best
Office A
$797.7K
$698.0K – $930.7K
NOI $55,841 @ 7.0% cap · market cap 5.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,274
Businesses Nearby
Explore this area
Business Placement
Demographics for 08530, NJ
7,832
Population
3,816
Households
2.1
Avg Household Size
49
Median Age
58%
College-Educated
93%
High-School Grad
27.1 sq mi
ZIP Area
289
Density / Sq Mi
$121,667
Median Household Income
$76,835
Median Earnings
$1,641
Median Rent
$554,000
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Commercial layout includes retail, barber shop, and upper-level office space.
Where is this mixed-use property located?
The property is located at 13 N UNION STREET Lambertville, NJ.
What is the asking price?
The asking price for this property is $975,000.
What are key features of this property?
This property features: 3,055 SF mixed‑use building constructed in 1920; First‑floor storefront with oversized display windows and walk‑in storage; Fully leased barber shop with a graduated rental agreement
