Mixed-Use Investment Property For
For Sale
$825,000
137 Belvidere Ave, Washington, NJ 07882
Four-unit mixed-use property with commercial and residential spaces.
Property Size2,928 SF
Lot Size0.35 Acres
Price / SF$281.76
Days on Market195
Property Features for 137 Belvidere Ave
General Information
Standard status
Active
Size
2,928 SF
Lot size
0.35 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$13,093
Amenities
Asphalt Shingle Roof
Baseboard - Hotwater Heating
Corner
Dirt Driveway
Multi-Zone Heating
Off-Street Parking
On-Street Parking
Building Details
Year Built
1900
Listing Agency:
FIEDLER REAL ESTATE
(908) 852-2200
Listed By:
JEFFERY FIEDLER · License #267360
Source:
Corcoran
Added: Jan 28
Changed: Aug 8
Last Checked: Apr 5 at 9:04PM
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 FIEDLER REAL ESTATE
Investment Insights
Based on property information with market context.
This is a four-unit mixed-use investment property situated on a corner lot. The property features three occupied one-bedroom residential units and one commercial unit. The commercial space, previously utilized as a dental office and medical clinic, has been recently updated. The property is zoned OB (Office/Business). An updated outbuilding, described as a carriage house or garage, offers additional storage or potential supplemental income, subject to necessary approvals. Ample on-site parking is available. The building has a size of 2928 square feet.
Key Highlights
- Four‑unit mixed‑use investment property with residential and commercial units.
- Updated commercial space previously used as a dental office and medical clinic.
- Zoned OB (Office/Business) offering flexible usage options.
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
$43,135
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
5.23%
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%
$862,700
$862.7K
Cap Rate 7%
$616,214
$616.2K
Cap Rate 9%
$479,278
$479.3K
Market Conditions
NOI Build-Up for 2,928 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
$65.0K $22.20/SF
− Vacancy
−$3.4K −$1.15/SF
EGI
$61.6K $21.05/SF
− OpEx
−$18.5K −$6.31/SF
NOI
$43.1K $14.73/SF
Area
Warren County, NJ
Vacancy
5.20%
Lease Rate
$22.20 /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%
$862,700
Cap Rate 7%
$616,214
Cap Rate 9%
$479,278
Alternative Uses
Best Use
Multifamily LT 5
$616.2K
$539.2K – $718.9K
NOI $43,135 @ 7.0% cap · market cap 5.23%
Second Best
Mixed Use
$605.0K
$529.4K – $705.9K
NOI $42,353 @ 7.0% cap · market cap 5.13%
Theoretical Best
Warehouse
$1.10M
$966.6K – $1.29M
NOI $77,326 @ 7.0% cap · market cap 9.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
640
Businesses Nearby
Explore this area
Business Placement
Demographics for 07882, NJ
14,971
Population
6,290
Households
2.4
Avg Household Size
44
Median Age
38%
College-Educated
95%
High-School Grad
31.6 sq mi
ZIP Area
474
Density / Sq Mi
$100,852
Median Household Income
$55,316
Median Earnings
$1,411
Median Rent
$333,800
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 - Four-unit mixed-use property with commercial and residential spaces.
Where is this mixed-use property located?
The property is located at 137 Belvidere Ave Washington, NJ.
What is the asking price?
The asking price for this property is $825,000.
What are key features of this property?
This property features: Four‑unit mixed‑use investment property with residential and commercial units.; Updated commercial space previously used as a dental office and medical clinic.; Zoned OB (Office/Business) offering flexible usage options.
