Mixed-Use Building in Downtown
189 Front St, South Plainfield, NJ 07080
Mixed-use building with retail and apartment in historic downtown.
Type:Mixed Use
Property size:
3,000 SFPrice / SF:
$198/SF- Added:
- Jun 3, 2024
- Days on Market:
- 730
- Last Refresh:
- May 12 at 9:46 pm
Property Features for 189 Front St
General Information
- Standard status
- Active
- Size
- 3,000 SF
- Property subtype
- Mixed Use
Listing agent John (JACK) Pedersen
Listing office Jack Pedersen Realty
Listing date Jun 3, 2024
Source Crexi
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 Jack Pedersen Realty
HighLights
- Busy corner location in South Plainfield's up‑and‑coming Historic Downtown District.
- Mixed‑use building with both retail and residential income potential.
- Off‑street parking available.
- First floor retail space (approx. 1500 sq ft) currently rented for $2000/month.
- Large second‑floor apartment (approx. 1500 sq ft) with 3 bedrooms and formal dining room.
- Existing tenants in place providing immediate rental income.
Overview
This mixed-use, stand-alone building is situated on a busy corner in the up-and-coming Historic Downtown District of South Plainfield. The property includes off-street parking. The first floor features approximately 1500 square feet of retail space, suitable for a storefront, office, or display room, and includes a half bath and basement storage. This space is currently rented for $2000.00. The second floor contains an approximately 1500-square-foot apartment with three bedrooms, one bathroom, a living room, an eat-in kitchen, and a formal dining room. The current apartment tenant has been in place for over five years on a month-to-month lease at $2250.00. The total property size is 3000 square feet.
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $90.0k | $30.00 |
| − Vacancy | −$6.1k | −$2.04 |
| EGI | $83.9k | $27.96 |
| − OpEx | −$37.7k | −$12.58 |
| NOI | $46.1k | $15.38 |
3,000 SF · lease $30.00/SF/yr · vacancy 6.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$659.1K
$576.7K – $768.9K
NOI $46,134 @ 7.0% cap · market cap 7.75%
Second Best
Retail
$611.7K
$535.3K – $713.7K
NOI $42,820 @ 7.0% cap · market cap 7.20%
Theoretical Best
Office A
$783.4K
$685.4K – $913.9K
NOI $54,835 @ 7.0% cap · market cap 9.22%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Storefront properties
Location Insight
- Map
- Local Demand
- City
- South Plainfield
- County
- Middlesex
- State
- New Jersey
- Longitude
- -74.4109575
- Latitude
- 40.5794484
Nearby Similar for Sale
FAQs
What type of property is this?
Mixed-use property - Mixed-use building with retail and apartment in historic downtown.
Where is this mixed-use property located?
The property is located at 189 Front St South Plainfield, NJ.
What is the asking price?
The asking price for this property is $595,000.
What are key features of this property?
This property features: Busy corner location in South Plainfield's up‑and‑coming Historic Downtown District.; Mixed‑use building with both retail and residential income potential.; Off‑street parking available.
