Mixed-Use Live-Work
For Sale
$924,900
137141 Stockton Street, Hightstown, NJ 08520
Turnkey renovated historic building with showroom/office space and a residential-ready studio, plus dual-street access and ADA ramp.
Property Size3,812 SF
Price / SF$242.63
Days on Market206
Property Features for 137141 Stockton Street
General Information
Standard status
Active
Size
3,812 SF
Property subtype
Commercial
Zoning
DTG
Site & Location
Highway Access
Yes
Road Access
Yes
Units
Multifamily Units
1
Office Units
1
Additional Details
Clear Height
9 ft
Amenities
professional landscaping
circular driveway
off-street parking
ADA-compliant access ramp
sprinkler and drip system
Building Details
Year Built
1770
Stories
2
Listing Agency:
Keller Williams Real Estate - Newtown
Listed By:
James Balletto
(833) 740-1234
Source:
Actionplusrealty
Added: Jan 17
Changed: Aug 10
Last Checked: Aug 10 at 3:40AM
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.
A renovated historic live-work property that blends preserved character with modern building systems. The layout includes a main showroom and office space with 9-foot ceilings, custom trim details, energy-efficient windows, and preserved historic staircase elements. Full bathrooms are provided on both the first and second floors. A separate back portion includes a residential-ready studio with a full kitchen, offering live-work flexibility or separate occupancy.
The site features expansive circular driveway access with ingress and egress from both Stockton Street and Railroad Avenue, positioned adjacent to a municipal public parking lot. Exterior work includes replaced cedar siding and low-maintenance synthetic trim, supported by established landscaping maintained with a dedicated sprinkler and drip system on its own water meter. A concrete ADA-compliant access ramp is included.
Located in the Downtown Gateway (DTG) Zone, the property is presented for a range of “as-of-right” uses. The building is positioned for regional connectivity, including proximity to Princeton Junction and the NJ Turnpike (Exit 8).
The site features expansive circular driveway access with ingress and egress from both Stockton Street and Railroad Avenue, positioned adjacent to a municipal public parking lot. Exterior work includes replaced cedar siding and low-maintenance synthetic trim, supported by established landscaping maintained with a dedicated sprinkler and drip system on its own water meter. A concrete ADA-compliant access ramp is included.
Located in the Downtown Gateway (DTG) Zone, the property is presented for a range of “as-of-right” uses. The building is positioned for regional connectivity, including proximity to Princeton Junction and the NJ Turnpike (Exit 8).
Key Highlights
- Built c. 1770 historic “Smith House” at 137‑141 Stockton Street, mixed commercial/residential use
- Three‑year top‑to‑bottom renovation with replaced major systems including natural gas forced‑heat and central air (3 independent HVAC units)
- 3,300 SF main showroom and office with preserved original staircase and full bathrooms on both the 1st and 2nd 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
$50,318
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
5.44%
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%
$1,006,360
$1.0M
Cap Rate 7%
$718,829
$718.8K
Cap Rate 9%
$559,089
$559.1K
Market Conditions
NOI Build-Up for 3,812 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
$91.5K $24.00/SF
− Vacancy
−$11.0K −$2.88/SF
EGI
$80.5K $21.12/SF
− OpEx
−$30.2K −$7.92/SF
NOI
$50.3K $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%
$1,006,360
Cap Rate 7%
$718,829
Cap Rate 9%
$559,089
Alternative Uses
Best Use
Mixed Use
$718.8K
$629.0K – $838.6K
NOI $50,318 @ 7.0% cap · market cap 5.44%
Second Best
Office B
$488.5K
$427.5K – $570.0K
NOI $34,198 @ 7.0% cap · market cap 3.70%
Theoretical Best
Warehouse
$1.23M
$1.07M – $1.43M
NOI $85,852 @ 7.0% cap · market cap 9.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
9 ft
Clear height
1
Office units
1
Residential units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
869
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
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Live-work space - Turnkey renovated historic building with showroom/office space and a residential-ready studio, plus dual-street access and ADA ramp.
Where is this live-work space located?
The property is located at 137141 Stockton Street 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: Built c. 1770 historic “Smith House” at 137‑141 Stockton Street, mixed commercial/residential use; Three‑year top‑to‑bottom renovation with replaced major systems including natural gas forced‑heat and central air (3 independent HVAC units); 3,300 SF main showroom and office with preserved original staircase and full bathrooms on both the 1st and 2nd floors
