Three-Unit Triplex with
New
For Sale
$849,900
216 Amherst St, Highland Park, NJ 08904
Hardwood flooring, basement storage, and a two-car garage complement the residential layout.
Property Size2,583 SF
Days on Market4
Property Features for 216 Amherst St
General Information
Standard status
Active
Size
2,583 SF
Total Parking Spaces
2
Property subtype
Investment
Additional Details
Public Transit
Yes
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$17,117
Building Details
Building Size
2,583 SF
Year Built
1900
Buildings
1
Stories
3
Listing Agency:
Best Realty D.B.A. RE/MAX Best Realty
Listed By:
BRUCE PARKER · License #9482948
(908) 202-5738
Source:
Elliman
Added: Sep 24
Changed: Sep 26
Last Checked: Sep 26 at 12:15PM
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 Best Realty D.B.A. RE/MAX Best Realty
Investment Insights
Based on property information with market context.
Built in 1900, this triplex contains three residential units. Hardwood floors add a distinct interior feature, while a full basement provides storage and a two-car garage offers covered vehicle space. The sale also includes an additional lot on Meriland.
The property sits between the New Brunswick and Edison train stations, with Rutgers University and nearby shopping, banks, post office, and entertainment. Walk Score is 72, Bike Score is 51, and Transit Score is 30.
The property sits between the New Brunswick and Edison train stations, with Rutgers University and nearby shopping, banks, post office, and entertainment. Walk Score is 72, Bike Score is 51, and Transit Score is 30.
Key Highlights
- Three residential units in a building constructed in 1900
- Full basement with storage and a two‑car garage
- Hardwood floors
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
$43,230
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
5.09%
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%
$864,600
$864.6K
Cap Rate 7%
$617,571
$617.6K
Cap Rate 9%
$480,333
$480.3K
Market Conditions
NOI Build-Up for 2,583 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
$66.0K $25.56/SF
− Vacancy
−$4.3K −$1.65/SF
EGI
$61.8K $23.91/SF
− OpEx
−$18.5K −$7.17/SF
NOI
$43.2K $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%
$864,600
Cap Rate 7%
$617,571
Cap Rate 9%
$480,333
Alternative Uses
Best Use
Multifamily LT 5
$617.6K
$540.4K – $720.5K
NOI $43,230 @ 7.0% cap · market cap 5.09%
Second Best
Apartment 5plus
$567.4K
$496.5K – $662.0K
NOI $39,721 @ 7.0% cap · market cap 4.67%
Theoretical Best
Office A
$674.5K
$590.2K – $786.9K
NOI $47,213 @ 7.0% cap · market cap 5.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,044
Businesses Nearby
Explore this area
Business Placement
Demographics for 08904, NJ
15,072
Population
6,858
Households
2.2
Avg Household Size
36
Median Age
70%
College-Educated
94%
High-School Grad
1.8 sq mi
ZIP Area
8,373
Density / Sq Mi
$101,991
Median Household Income
$58,786
Median Earnings
$1,881
Median Rent
$463,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Triplex - Hardwood flooring, basement storage, and a two-car garage complement the residential layout.
Where is this triplex located?
The property is located at 216 Amherst St Highland Park, 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 residential units in a building constructed in 1900; Full basement with storage and a two‑car garage; Hardwood floors
