Mixed-Use Property with
New
For Sale
$650,000
353-355 FARNSWORTH AVE, Bordentown, NJ 08505
Ground-floor commercial space is leased through July 2027, with a two-bedroom apartment above.
Property Size2,300 SF
Price / SF$282.61
Days on Market2
Property Features for 353-355 FARNSWORTH AVE
General Information
Standard status
Active
Size
2,300 SF
Property subtype
Multi-family
Zoning
Local Commercial
Units
Unit Mix
1 x 2BR
Multifamily Units
1
Additional Details
Floor
Ground
Road Access
Yes
Building Details
Buildings
1
Tenancy
Multi
Listing Agency:
Remax Welcome Home
(609) 333-5800
Listed By:
Adam Bless · License #1752270
(609) 433-7147
Source:
Hostetterrealty
Added: Sep 7
Last Checked: Sep 8 at 8:44AM
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 Remax Welcome Home
Investment Insights
Based on property information with market context.
This mixed-use property at 353-355 Farnsworth Avenue combines a ground-floor commercial storefront with a second-floor residential apartment. The commercial space is leased through July 2027, while the apartment includes two bedrooms and is occupied by a tenant. The layout supports separate commercial and residential components within one building, offering an existing lease arrangement alongside an established apartment tenancy.
The property is located on Farnsworth Avenue in Bordentown City’s downtown area and carries Local Commercial zoning. A neighboring coin-operated laundromat provides an established nearby business presence. The commercial storefront may be retained under its current lease or used for an owner-operated business after the lease term concludes, subject to applicable requirements.
The property is located on Farnsworth Avenue in Bordentown City’s downtown area and carries Local Commercial zoning. A neighboring coin-operated laundromat provides an established nearby business presence. The commercial storefront may be retained under its current lease or used for an owner-operated business after the lease term concludes, subject to applicable requirements.
Key Highlights
- Ground‑floor commercial storefront leased through July 2027
- Second‑floor two‑bedroom residential apartment
- Apartment is occupied by a tenant
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
$34,394
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
5.29%
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%
$687,880
$687.9K
Cap Rate 7%
$491,343
$491.3K
Cap Rate 9%
$382,156
$382.2K
Market Conditions
NOI Build-Up for 2,300 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
$51.6K $22.44/SF
− Vacancy
−$2.5K −$1.08/SF
EGI
$49.1K $21.36/SF
− OpEx
−$14.7K −$6.41/SF
NOI
$34.4K $14.95/SF
Area
Burlington County, NJ
Vacancy
4.80%
Lease Rate
$22.44 /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%
$687,880
Cap Rate 7%
$491,343
Cap Rate 9%
$382,156
Alternative Uses
Best Use
Retail
$491.3K
$429.9K – $573.2K
NOI $34,394 @ 7.0% cap · market cap 5.29%
Second Best
Mixed Use
$278.8K
$243.9K – $325.2K
NOI $19,514 @ 7.0% cap · market cap 3.00%
Theoretical Best
Warehouse
$4.81M
$4.21M – $5.61M
NOI $336,728 @ 7.0% cap · market cap 51.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Multi-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
627
Businesses Nearby
59k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 40%
Groceries 33%
Dining 27%
Aldi
Groceries
19,701 visits/mo
0.5 miles
Dunkin' Donuts
Dining
15,834 visits/mo
0.5 miles
AutoZone
Shops & Services
11,662 visits/mo
0.5 miles
Valero Energy
Shops & Services
10,720 visits/mo
0.5 miles
Beneficial Bank
Shops & Services
1,524 visits/mo
0.0 miles
Demographics for 08505, NJ
18,178
Population
7,792
Households
2.3
Avg Household Size
43
Median Age
43%
College-Educated
96%
High-School Grad
22.5 sq mi
ZIP Area
808
Density / Sq Mi
$111,946
Median Household Income
$65,422
Median Earnings
$1,586
Median Rent
$353,200
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 - Ground-floor commercial space is leased through July 2027, with a two-bedroom apartment above.
Where is this mixed-use property located?
The property is located at 353-355 FARNSWORTH AVE Bordentown, 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: Ground‑floor commercial storefront leased through July 2027; Second‑floor two‑bedroom residential apartment; Apartment is occupied by a tenant
