Approved Six-Unit Mixed-Use
For Sale
$899,000
1304 South Broad Street, Trenton, NJ 08610
Existing four-unit rental with plans for two retail storefronts and four two-bedroom apartments.
Property Size1,716 SF
Price / SF$523.89
Days on Market303
Property Features for 1304 South Broad Street
General Information
Standard status
Active
Size
1,716 SF
Property subtype
Multi-Family / Fee Simple
Zoning
MULTI-FAMILY
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$5,548
Amenities
No
2+ Access Exits
No Pool
Above Grade, Below Grade
Building Details
Year Built
1950
Listing Agency:
Smires & Associates
(609) 954-8111
Listed By:
Mehdi Abbas Raza · License #1430436
(609) 954-8111
Source:
Compass
Added: Nov 1, 2025
Changed: Aug 29
Last Checked: Aug 29 at 8:36PM
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 Smires & Associates
Investment Insights
Based on property information with market context.
Located at 1304 South Broad Street in Trenton, this mixed-use property is currently arranged as a four-unit rental building. The property measures 1,716 and was constructed in 1950, with above-grade and below-grade areas and two or more access exits.
Approved redevelopment plans provide for a six-unit configuration featuring two commercial storefronts at street level and four two-bedroom apartments above. The property is zoned MULTI-FAMILY, and approvals and site plans are in place for the proposed work. Its South Broad Street setting offers access to major highways and public transit, with local amenities nearby.
Approved redevelopment plans provide for a six-unit configuration featuring two commercial storefronts at street level and four two-bedroom apartments above. The property is zoned MULTI-FAMILY, and approvals and site plans are in place for the proposed work. Its South Broad Street setting offers access to major highways and public transit, with local amenities nearby.
Key Highlights
- Approved plans for a six‑unit mixed‑use redevelopment
- Proposed layout includes two ground‑floor retail storefronts
- Four newly designed two‑bedroom residential apartments
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
$30,324
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
3.37%
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%
$606,480
$606.5K
Cap Rate 7%
$433,200
$433.2K
Cap Rate 9%
$336,933
$336.9K
Market Conditions
NOI Build-Up for 1,716 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
$46.3K $27.00/SF
− Vacancy
−$3.0K −$1.76/SF
EGI
$43.3K $25.25/SF
− OpEx
−$13.0K −$7.57/SF
NOI
$30.3K $17.67/SF
Area
Mercer County, NJ
Vacancy
6.50%
Lease Rate
$27.00 /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%
$606,480
Cap Rate 7%
$433,200
Cap Rate 9%
$336,933
Alternative Uses
Best Use
Multifamily LT 5
$433.2K
$379.1K – $505.4K
NOI $30,324 @ 7.0% cap · market cap 3.37%
Second Best
Apartment 5plus
$374.1K
$327.4K – $436.5K
NOI $26,190 @ 7.0% cap · market cap 2.91%
Theoretical Best
Warehouse
$552.1K
$483.1K – $644.1K
NOI $38,647 @ 7.0% cap · market cap 4.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,188
Businesses Nearby
Explore this area
Business Placement
Demographics for 08610, NJ
32,649
Population
12,363
Households
2.6
Avg Household Size
38
Median Age
25%
College-Educated
89%
High-School Grad
7.4 sq mi
ZIP Area
4,412
Density / Sq Mi
$87,159
Median Household Income
$43,990
Median Earnings
$1,491
Median Rent
$248,900
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?
Mixed-use property - Existing four-unit rental with plans for two retail storefronts and four two-bedroom apartments.
Where is this mixed-use property located?
The property is located at 1304 South Broad Street Trenton, NJ.
What is the asking price?
The asking price for this property is $899,000.
What are key features of this property?
This property features: Approved plans for a six‑unit mixed‑use redevelopment; Proposed layout includes two ground‑floor retail storefronts; Four newly designed two‑bedroom residential apartments
