Building Details

Building Size 2,244 SF

Year Built 1906

Buildings 2

Stories 2

Listing Agency: The Real Estate Company

Listed By: HERNAN J. CASTRO · License #0675191 Show Phone

Source: Elliman

Added: Oct 7 Changed: Oct 10 Last Checked: Oct 12 at 8:51PM

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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 The Real Estate Company

Investment Insights

Based on property information with market context.

The property consists of a main house divided into two apartments and a separate rear cottage. All three units have two bedrooms and one full bathroom. The cottage includes central air, wood-look flooring, a laundry room, and a covered porch. A full basement in the main house contains two gas boilers, two water heaters, and laundry hookups.

Built in 1906, the property occupies a 43-by-149-foot lot with off-street parking. The roof is approximately two years old. Walk Score is 62 and Bike Score is 50.

Key Highlights

• Three units: each has 2 bedrooms and 1 full bathroom
• Main house contains two apartments; detached rear cottage is the third unit
• 43‑by‑149‑foot lot with off‑street parking

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$37,556

Cap Rate

5.78%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$751,120 $751.1K

Cap Rate 7%

$536,514 $536.5K

Cap Rate 9%

$417,289 $417.3K

Market Conditions

NOI Build-Up for 2,244 SF

Gross rent

$57.4K $25.56/SF

− Vacancy

−$3.7K −$1.65/SF

EGI

$53.7K $23.91/SF

− OpEx

−$16.1K −$7.17/SF

NOI

$37.6K $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 Rate 5%

$751,120

Cap Rate 7%

$536,514

Cap Rate 9%

$417,289

Alternative Uses

Best Use

Multifamily LT 5

$536.5K

$469.5K – $625.9K (±1% cap)

NOI $37,556 @ 7.0% cap · market cap 5.78%

Second Best

Apartment 5plus

$493.0K

$431.4K – $575.1K (±1% cap)

NOI $34,508 @ 7.0% cap · market cap 5.31%

Theoretical Best

Office A

$586.0K

$512.7K – $683.6K (±1% cap)

NOI $41,017 @ 7.0% cap · market cap 6.31%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Triplexes

Suggested Use

Top Pick (Bike/Boat/Book/etc) Store Parking Lot & Garage Daycare Center Electrical Service Catering Service Tech Support Center

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

3

Residential units

Location Intelligence

Trade Area within ½ mile

715

Businesses Nearby

Explore this area Business Placement

Demographics for 08882, NJ

16,118

Population

5,789

Households

2.8

Avg Household Size

39

Median Age

31%

College-Educated

86%

High-School Grad

2.8 sq mi

ZIP Area

5,756

Density / Sq Mi

$101,853

Median Household Income

$51,323

Median Earnings

$1,599

Median Rent

$382,500

Median Home Value

Market

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

Questions? Ask Rey

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What type of property is this? Where is this triplexes located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Triplex - Two buildings provide three two-bedroom apartments, with off-street parking on the rear lot.

Where is this triplex located?

The property is located at 17 George St South River, NJ.

What is the asking price?

The asking price for this property is $650,000.

What are key features of this property?

This property features: Three units: each has 2 bedrooms and 1 full bathroom; Main house contains two apartments; detached rear cottage is the third unit; 43‑by‑149‑foot lot with off‑street parking