Corner Grocery Store With
For Sale
$710,000
199 Washington Street, Perth Amboy, NJ 08861
COMMERCIAL - Perth Amboy, NJ
Property Size2,038 SF
Lot Size0.06 Acres
Price / SF$348.38
Days on Market109
Property Features for 199 Washington Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
R-25
Parking
2
Interior features
Refrigeration
Appliances
Refrigeration
Lot features
Corner Lot
Directions
Corner Washington Street and Park Ave
Standard status
Active
APN
1600224000000030
Size
2,038 SF
Lot size
0.06 Acres
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
7092
Utilities
Sewer type
Public Sewer
Heating system
Other (Heating), Hot Water(Heating), Steam, Baseboard
Cooling system
Window Unit(s), Ceiling Fan(s)
Water source
Public
Building Details
Year built
1895
Floors in Building
2
Flooring type
Laminate
Building materials
Vinyl Siding
Roof type
Asphalt
Listing Agency:
PETRA BEST REALTY LLC
(732) 442-1400
Listed By:
Enrique Hernandez
(732) 442-1400
Added: Apr 27
Changed: Aug 4
Last Checked: Aug 13 at 9:06AM
MLS# 2614692R
Copyright © 2026 All Jersey MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
A well-established grocery store is available for sale as a combined offering of the building and the business, located on a corner property with high exposure. The property also includes an apartment above the store.
The storefront building is 1,895 with vinyl siding and an asphalt roof. Interior features include refrigeration, and the property has a mix of heating including steam, hot water, other heating, and baseboard, along with ceiling fans and window unit cooling. Public water and public sewer are provided.
The apartment above includes three bedrooms, a living room, a large kitchen, a bath, and a finished attic. Set on a 0.0574-acre lot with 2,038 square feet of property size, this setup creates a live-and-operate configuration while maintaining a retail-focused ground floor.
The storefront building is 1,895 with vinyl siding and an asphalt roof. Interior features include refrigeration, and the property has a mix of heating including steam, hot water, other heating, and baseboard, along with ceiling fans and window unit cooling. Public water and public sewer are provided.
The apartment above includes three bedrooms, a living room, a large kitchen, a bath, and a finished attic. Set on a 0.0574-acre lot with 2,038 square feet of property size, this setup creates a live-and-operate configuration while maintaining a retail-focused ground floor.
Key Highlights
- Corner grocery store offered with building and business
- Apartment above includes three bedrooms, living room, large kitchen, bath, and finished attic
- Zoned R‑25
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
$31,167
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
4.39%
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%
$623,340
$623.3K
Cap Rate 7%
$445,243
$445.2K
Cap Rate 9%
$346,300
$346.3K
Market Conditions
NOI Build-Up for 2,038 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
$44.0K $21.60/SF
− Vacancy
−$2.5K −$1.21/SF
EGI
$41.6K $20.39/SF
− OpEx
−$10.4K −$5.10/SF
NOI
$31.2K $15.29/SF
Area
Middlesex County, NJ
Vacancy
5.60%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
25.00%
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%
$623,340
Cap Rate 7%
$445,243
Cap Rate 9%
$346,300
Alternative Uses
Best Use
Specialty Retail
$445.2K
$389.6K – $519.5K
NOI $31,167 @ 7.0% cap · market cap 4.39%
Second Best
Retail
$415.6K
$363.6K – $484.8K
NOI $29,089 @ 7.0% cap · market cap 4.10%
Theoretical Best
Office A
$532.2K
$465.6K – $620.9K
NOI $37,251 @ 7.0% cap · market cap 5.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
1,766
Businesses Nearby
53k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 77%
Electronics 10%
Dining 7%
Apparel 6%
PNC Bank
Shops & Services
13,747 visits/mo
0.4 miles
Chase Bank
Shops & Services
12,006 visits/mo
0.4 miles
Dollar General
Shops & Services
6,535 visits/mo
0.4 miles
BP
Shops & Services
4,582 visits/mo
0.4 miles
Dunkin' Donuts
Dining
3,797 visits/mo
0.4 miles
Demographics for 08861, NJ
58,039
Population
21,032
Households
2.8
Avg Household Size
35
Median Age
16%
College-Educated
70%
High-School Grad
5.1 sq mi
ZIP Area
11,380
Density / Sq Mi
$60,464
Median Household Income
$34,093
Median Earnings
$1,623
Median Rent
$340,900
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Similar Off Market Nearby
- Brother's Supermarket — 361 Market St, Perth Amboy, NJ 08861
- Bj Abreu Supermarket — 216 New Brunswick Ave, Perth Amboy, NJ 08861
- Tropical Supermarket — 442 Smith St, Perth Amboy, NJ 08861
- Caba Grocery Inc — 147 Brighton Ave, Perth Amboy, NJ 08861
- Gonzaga Grocery — 341 Prospect St, Perth Amboy, NJ 08861
Frequently Asked Questions
What type of property is this?
Grocery and convenience store - Corner grocery store with apartment above, zoned R-25, includes refrigeration and public utilities.
Where is this grocery and convenience store located?
The property is located at 199 Washington Street Perth Amboy, NJ.
What is the asking price?
The asking price for this property is $710,000.
What are key features of this property?
This property features: Corner grocery store offered with building and business; Apartment above includes three bedrooms, living room, large kitchen, bath, and finished attic; Zoned R‑25
