Three-Family Property With
New
For Sale
$849,900
Pending
11-13-15 Mageira St, South River, NJ 08882
Multi-unit property with separate basement areas, laundry hookups, off-street parking, and outdoor space.
Property Size4,270 SF
Days on Market3
Property Features for 11-13-15 Mageira St
General Information
Standard status
Pending
Size
4,270 SF
Property subtype
Investment
Additional Details
Highway Access
Yes
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$10,689
Amenities
outdoor space
laundry hookups
storage
Building Details
Building Size
4,270 SF
Year Built
1916
Stories
3
Listing Agency:
COLDWELL BANKER RESIDENTIAL BROKERAGE
Listed By:
DANA L. JENSEN FERNANDES
(732) 371-0712
Source:
Elliman
Added: Sep 22
Changed: Sep 23
Last Checked: Sep 23 at 2:57AM
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 RESIDENTIAL BROKERAGE
Investment Insights
Based on property information with market context.
This 1916 three-family property includes an owner’s unit arranged across two levels, with 2 bedrooms and 1 bathroom on each floor and a separate entrance to the second floor. The center unit contains 2 bedrooms and 1 full bathroom. The vacant end unit offers 4 bedrooms, potentially 5, along with 2 full bathrooms, including one new bathroom, and a large eat-in kitchen.
Each unit has a separate basement area with laundry hookups and additional storage space. The property also provides off-street parking and outdoor space. A fourth-unit configuration is identified as a possibility, subject to municipal approvals and buyer due diligence. Parks, restaurants, coffee shops, bakeries, shopping, and major highways are located nearby. Walk Score is 32 and bikeScore is 24.
Each unit has a separate basement area with laundry hookups and additional storage space. The property also provides off-street parking and outdoor space. A fourth-unit configuration is identified as a possibility, subject to municipal approvals and buyer due diligence. Parks, restaurants, coffee shops, bakeries, shopping, and major highways are located nearby. Walk Score is 32 and bikeScore is 24.
Key Highlights
- Three‑family property with an owner’s unit spanning two levels
- Unit mix includes 2 bedrooms and 1 bathroom in the owner’s unit on each floor
- Vacant end unit has 4 bedrooms, potentially 5, and 2 full bathrooms
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
$71,463
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
8.41%
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%
$1,429,260
$1.4M
Cap Rate 7%
$1,020,900
$1.0M
Cap Rate 9%
$794,033
$794.0K
Market Conditions
NOI Build-Up for 4,270 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
$109.1K $25.56/SF
− Vacancy
−$7.1K −$1.65/SF
EGI
$102.1K $23.91/SF
− OpEx
−$30.6K −$7.17/SF
NOI
$71.5K $16.74/SF
Area
Middlesex County, NJ
Vacancy
6.46%
Lease Rate
$25.56 /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%
$1,429,260
Cap Rate 7%
$1,020,900
Cap Rate 9%
$794,033
Alternative Uses
Best Use
Multifamily LT 5
$1.02M
$893.3K – $1.19M
NOI $71,463 @ 7.0% cap · market cap 8.41%
Second Best
Apartment 5plus
$938.1K
$820.8K – $1.09M
NOI $65,664 @ 7.0% cap · market cap 7.73%
Theoretical Best
Office A
$1.11M
$975.6K – $1.30M
NOI $78,049 @ 7.0% cap · market cap 9.18%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
3
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
603
Businesses Nearby
Explore this area
Business Placement
Demographics for 08882, NJ
16,118
Population
5,789
Households
2.8
Avg Household Size
39
Median Age
31%
College-Educated
86%
High-School Grad
2.8 sq mi
ZIP Area
5,756
Density / Sq Mi
$101,853
Median Household Income
$51,323
Median Earnings
$1,599
Median Rent
$382,500
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?
Triplex - Multi-unit property with separate basement areas, laundry hookups, off-street parking, and outdoor space.
Where is this triplex located?
The property is located at 11-13-15 Mageira St South River, NJ.
What is the asking price?
The asking price for this property is $849,900.
What are key features of this property?
This property features: Three‑family property with an owner’s unit spanning two levels; Unit mix includes 2 bedrooms and 1 bathroom in the owner’s unit on each floor; Vacant end unit has 4 bedrooms, potentially 5, and 2 full bathrooms
