Victorian Multifamily
For Sale
$849,900
169 N MAIN STREET 171, Hightstown, NJ 08520
R-3-zoned property with a detached garage, driveway, and off-street parking.
Property Size4,024 SF
Price / SF$211.21
Days on Market46
Property Features for 169 N MAIN STREET 171
General Information
Standard status
Active
Size
4,024 SF
Total Parking Spaces
1
Property subtype
Residential Income
Zoning
R-3
Taxes and HOA fees
Annual Taxes
$17,937
Amenities
Window Unit(s), Electric
Natural Gas, Baseboard
Gas Water Heater
Off Street, Garage, Driveway, Detached
Victorian
Building Details
Building Size
4,024 SF
Year Built
1900
Listing Agency:
(609) 638-2850
Listed By:
Basilia Y Azcona
(609) 638-2850
Source:
Evrealestate
Added: Jul 17
Changed: Aug 30
Last Checked: Aug 30 at 1:33PM
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 Basilia Y Azcona
Investment Insights
Based on property information with market context.
This multifamily property at 169 N Main Street features Victorian exterior detailing and was built in 1900. The property includes a detached garage, driveway, and off-street parking, with window-unit electric cooling, natural-gas baseboard heat, and a gas water heater.
The property is located in Hightstown, Mercer County, with access from Route 130 via Main Street. R-3 zoning is in place, and the property address includes 169 N Main Street and 171.
The property is located in Hightstown, Mercer County, with access from Route 130 via Main Street. R-3 zoning is in place, and the property address includes 169 N Main Street and 171.
Key Highlights
- R‑3 zoning
- 4,024 property size
- Built in 1900 with Victorian exterior
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
$61,416
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
7.23%
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%
$1,228,320
$1.2M
Cap Rate 7%
$877,371
$877.4K
Cap Rate 9%
$682,400
$682.4K
Market Conditions
NOI Build-Up for 4,024 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
$120.7K $30.00/SF
− Vacancy
−$9.1K −$2.25/SF
EGI
$111.7K $27.75/SF
− OpEx
−$50.2K −$12.49/SF
NOI
$61.4K $15.26/SF
Area
Mercer County, NJ
Vacancy
7.50%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
45.00%
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%
$1,228,320
Cap Rate 7%
$877,371
Cap Rate 9%
$682,400
Alternative Uses
Best Use
Apartment 5plus
$877.4K
$767.7K – $1.02M
NOI $61,416 @ 7.0% cap · market cap 7.23%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$1.29M
$1.13M – $1.51M
NOI $90,627 @ 7.0% cap · market cap 10.66%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
671
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 Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Multifamily property - R-3-zoned property with a detached garage, driveway, and off-street parking.
Where is this multifamily property located?
The property is located at 169 N MAIN STREET 171 Hightstown, 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: R‑3 zoning; 4,024 property size; Built in 1900 with Victorian exterior
