Historic Mixed-Use Property For
For Sale
$924,900
137 -141 Stockton St, Hightstown, NJ 08520
Iconic, renovated mixed-use property in Hightstown, New Jersey.
Property Size3,300 SF
Lot Size0.28 Acres
Price / SF$280.27
Days on Market152
Property Features for 137 -141 Stockton St
General Information
Standard status
Active
Size
3,300 SF
Lot size
0.28 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$13,492
Amenities
Downtown
Building Details
Year Built
1721
Listing Agency:
KELLER WILLIAMS REAL ESTATE - NEWTOWN
(215) 860-4200
Listed By:
JAMES BALLETTO
Source:
Corcoran
Added: Mar 24
Changed: Aug 21
Last Checked: Aug 22 at 7:25AM
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 KELLER WILLIAMS REAL ESTATE - NEWTOWN
Investment Insights
Based on property information with market context.
Located at 137-141 Stockton Street, the "Smith House" is recognized as the oldest residence in Hightstown, established in 1721. This pre-Revolutionary asset, dating back to approximately 1770, offers high visibility as a commercial and residential property. The property has undergone a three-year renovation, blending historic prestige with modern infrastructure. The exterior features premium cedar wood siding and low-maintenance synthetic trim. Professional landscaping includes a mature Oak tree and established greenery, maintained by a sprinkler and drip system with a separate water meter. A circular driveway provides dual-street access from Stockton Street and Railroad Avenue, adjacent to the municipal public parking lot. The front entrance features custom mahogany woodwork. The building has been structurally enhanced and includes modernized natural gas forced-heat and central air via three independent HVAC units, high-capacity electrical, modern plumbing, and over 40 energy-efficient aluminum clad exterior and wood interior windows. The interior features 9-foot ceilings and custom-milled trim work matched to the original 18th-century profiles, along with a preserved original staircase with historic Pumpkin Pine treads. The 3,300 sq. ft. main showroom and office space includes imported 8 ¾ inch wide yellow pine flooring and full bathrooms on both floors. A separate 512 sq. ft. residential-ready studio with a full kitchen offers live-work flexibility or rental income. Situated in the Downtown Gateway (DTG) Zone, the property allows for various uses, including a law or medical suite, retail gallery, bistro, or residential space. It is located 10 minutes from Princeton Junction, 5 minutes from the NJ Turnpike (Exit 8), and less than an hour from NYC and Philadelphia. The property includes off-street parking and a concrete ADA-compliant access ramp.
Key Highlights
- Historic Landmark: Own the iconic "Smith House" (c. 1770), Hightstown's oldest residence.
- Extensive Renovation: Enjoy the blend of historic charm and modern infrastructure after a meticulous three‑year renovation.
- Prime Commercial/Residential Location: High‑visibility location with versatile Downtown Gateway (DTG) zoning.
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
$43,560
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
4.71%
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%
$871,200
$871.2K
Cap Rate 7%
$622,286
$622.3K
Cap Rate 9%
$484,000
$484.0K
Market Conditions
NOI Build-Up for 3,300 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
$79.2K $24.00/SF
− Vacancy
−$9.5K −$2.88/SF
EGI
$69.7K $21.12/SF
− OpEx
−$26.1K −$7.92/SF
NOI
$43.6K $13.20/SF
Area
Mercer County, NJ
Vacancy
12.00%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
37.50%
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%
$871,200
Cap Rate 7%
$622,286
Cap Rate 9%
$484,000
Alternative Uses
Best Use
Mixed Use
$622.3K
$544.5K – $726.0K
NOI $43,560 @ 7.0% cap · market cap 4.71%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$1.06M
$929.0K – $1.24M
NOI $74,321 @ 7.0% cap · market cap 8.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
742
Businesses Nearby
Explore this area
Business Placement
Demographics for 08520, NJ
29,291
Population
11,271
Households
2.6
Avg Household Size
40
Median Age
46%
College-Educated
92%
High-School Grad
18.0 sq mi
ZIP Area
1,627
Density / Sq Mi
$116,282
Median Household Income
$52,890
Median Earnings
$1,556
Median Rent
$361,800
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Iconic, renovated mixed-use property in Hightstown, New Jersey.
Where is this mixed-use property located?
The property is located at 137 -141 Stockton St Hightstown, NJ.
What is the asking price?
The asking price for this property is $924,900.
What are key features of this property?
This property features: Historic Landmark: Own the iconic "Smith House" (c. 1770), Hightstown's oldest residence.; Extensive Renovation: Enjoy the blend of historic charm and modern infrastructure after a meticulous three‑year renovation.; Prime Commercial/Residential Location: High‑visibility location with versatile Downtown Gateway (DTG) zoning.
