Mixed-Use Restaurant
For Sale
$775,000
192 BROAD STREET, Trenton, NJ 08608
Licensed restaurant with catering operations and four leased apartments in a two-story commercial and residential property.
Property Size4,640 SF
Price / SF$167.03
Days on Market19
Property Features for 192 BROAD STREET
General Information
Standard status
Active
Size
4,640 SF
Property subtype
Mixed Use
Occupancy
100%
Site & Location
Highway Access
Yes
Public Transit
Yes
Units
Unit Mix
2 x 1BR, 2 x studio
Multifamily Units
4
Additional Details
Business Included
Yes
Equipment Included
Yes
Taxes and HOA fees
Annual Taxes
$10,885
Amenities
Central Air, Window Air Conditioning
3
Tile, Vinyl, Other, Wood
Parking.
On Street.
Building Details
Year Built
1920
Tenancy
Multi
Listing Agency:
Pott Real Estate, LLC
(609) 793-9639
Listed By:
Roland Pott · License #0342277
(609) 793-9639
Source:
Xome
Added: Aug 4
Changed: Aug 22
Last Checked: Aug 22 at 6:11AM
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 Pott Real Estate, LLC
Investment Insights
Based on property information with market context.
The property combines an operating restaurant with four fully leased apartments above. The restaurant includes a customer-facing kitchen, a separate rear kitchen for preparation and catering, restaurant equipment, a newer HVAC system, and basement storage. The upper level contains two one-bedroom apartments and two studio apartments. The property was built in 1920 and is fully licensed and inspected.
Located at 192 Broad Street in Trenton, the building is adjacent to the Mill Hill Historic District and within a 10-minute walk of the Trenton Transit Center. Access is available from Routes 1, 29, 129, 206, 195, 31, and 33. Construction of 138 new apartments is underway on the next block.
Located at 192 Broad Street in Trenton, the building is adjacent to the Mill Hill Historic District and within a 10-minute walk of the Trenton Transit Center. Access is available from Routes 1, 29, 129, 206, 195, 31, and 33. Construction of 138 new apartments is underway on the next block.
Key Highlights
- 4,640 SF mixed‑use building completed in 1920
- Operating restaurant with kitchen, rear prep and catering kitchen, equipment, and active catering business
- Four fully leased apartments: two one‑bedroom units and two studios
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
$70,818
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
9.14%
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%
$1,416,360
$1.4M
Cap Rate 7%
$1,011,686
$1.0M
Cap Rate 9%
$786,867
$786.9K
Market Conditions
NOI Build-Up for 4,640 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
$139.2K $30.00/SF
− Vacancy
−$10.4K −$2.25/SF
EGI
$128.8K $27.75/SF
− OpEx
−$57.9K −$12.49/SF
NOI
$70.8K $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%
$1,416,360
Cap Rate 7%
$1,011,686
Cap Rate 9%
$786,867
Alternative Uses
Best Use
Specialty Retail
$1.06M
$929.3K – $1.24M
NOI $74,343 @ 7.0% cap · market cap 9.59%
Second Best
Apartment 5plus
$1.01M
$885.2K – $1.18M
NOI $70,818 @ 7.0% cap · market cap 9.14%
Theoretical Best
Warehouse
$1.49M
$1.31M – $1.74M
NOI $104,500 @ 7.0% cap · market cap 13.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Turnkey business
Opportunity
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
2,448
Businesses Nearby
Explore this area
Business Placement
Demographics for 08608, NJ
1,269
Population
645
Households
2
Avg Household Size
41
Median Age
25%
College-Educated
77%
High-School Grad
0.3 sq mi
ZIP Area
4,230
Density / Sq Mi
$48,232
Median Earnings
$1,009
Median Rent
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Licensed restaurant with catering operations and four leased apartments in a two-story commercial and residential property.
Where is this mixed-use property located?
The property is located at 192 BROAD STREET Trenton, NJ.
What is the asking price?
The asking price for this property is $775,000.
What are key features of this property?
This property features: 4,640 SF mixed‑use building completed in 1920; Operating restaurant with kitchen, rear prep and catering kitchen, equipment, and active catering business; Four fully leased apartments: two one‑bedroom units and two studios
