Mixed-Use Restaurant with
New
For Sale
$775,000
192 S Broad St, Trenton, NJ 08608
Four leased apartments occupy the upper floor, including two studios and two one-bedroom units.
Property Size4,640 SF
Price / SF$167.03
Days on Market2
Property Features for 192 S Broad St
General Information
Standard status
Active
Size
4,640 SF
Additional Details
Business Included
Yes
Highway Access
Yes
Equipment Included
Yes
Building Details
Year Built
1920
Listing Agency:
Pott Real Estate, LLC
Listed By:
Roland S. Pott · License #0342277
(609) 793-9639
Source:
Lgagne
Added: Sep 24
Last Checked: Sep 24 at 2:52PM
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.
This 4,640-square-foot mixed-use property pairs a restaurant with four fully leased apartments above. The residential mix includes two studios and two one-bedroom units. Restaurant features include a kitchen behind the counter, a separate rear kitchen for preparation and catering, included equipment, a new HVAC system and basement storage. The business also has an active catering operation and is licensed and inspected.
Built in 1920, the property is adjacent to the Mill Hill Historic District. Routes 1, 29, 129, 206, 195, 31 and 33 provide access, and Trenton Transit Center is a 10-minute walk away.
Built in 1920, the property is adjacent to the Mill Hill Historic District. Routes 1, 29, 129, 206, 195, 31 and 33 provide access, and Trenton Transit Center is a 10-minute walk away.
Key Highlights
- 4,640‑square‑foot mixed‑use property with restaurant and four leased apartments
- Apartment mix: two studios and two one‑bedroom units
- Restaurant includes equipment, a counter‑side kitchen and a separate rear prep and catering kitchen
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
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Open Analytics
Current Use
Lease Details
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Four leased apartments occupy the upper floor, including two studios and two one-bedroom units.
Where is this mixed-use property located?
The property is located at 192 S Broad St 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‑square‑foot mixed‑use property with restaurant and four leased apartments; Apartment mix: two studios and two one‑bedroom units; Restaurant includes equipment, a counter‑side kitchen and a separate rear prep and catering kitchen
