Corner Grocery Store with
For Sale
$710,000
199 Washington Street, Perth Amboy, NJ 08861
For sale as a package with the building and business on a corner site, plus a 3-bedroom apartment upstairs.
Property Size2,038 SF
Price / SF$348.38
Days on Market205
Property Features for 199 Washington Street
General Information
Standard status
Active
Size
2,038 SF
Property subtype
Commercial
Additional Details
Business Included
Yes
Multifamily Units
1
Building Details
Year Built
1895
Listing Agency:
PETRA BEST REALTY LLC
Listed By:
ENRIQUE HERNANDEZ
(732) 841-7029
Source:
Actionplusrealty
Added: Apr 12
Changed: Nov 1
Last Checked: Nov 1 at 6:28AM
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 PETRA BEST REALTY LLC
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Investment Insights
Based on property information with market context.
This well-established grocery store is offered for sale together with the building and the business. The property includes a retail store level and an apartment above. Upstairs, the residence features three bedrooms, a living room, a large kitchen, a bath, and a finished attic, providing an additional separate living unit component to the overall offering.
Located on a corner property at 199 Washington St in Perth Amboy, the store benefits from visibility associated with its street-corner presence. The listing notes high exposure and steady foot traffic, which can be helpful for a neighborhood retail tenant or an owner-operator looking for consistent walk-in access.
For buyers interested in owner-occupancy or operating a neighborhood grocery, this configuration supports a streamlined “run the business below, live above” setup. It also offers flexibility for investors who want retail income combined with a residential unit in the same asset. The seller’s remarks emphasize the store’s established foundation and continued earning potential tied to the ongoing grocery operation and the included apartment.
Located on a corner property at 199 Washington St in Perth Amboy, the store benefits from visibility associated with its street-corner presence. The listing notes high exposure and steady foot traffic, which can be helpful for a neighborhood retail tenant or an owner-operator looking for consistent walk-in access.
For buyers interested in owner-occupancy or operating a neighborhood grocery, this configuration supports a streamlined “run the business below, live above” setup. It also offers flexibility for investors who want retail income combined with a residential unit in the same asset. The seller’s remarks emphasize the store’s established foundation and continued earning potential tied to the ongoing grocery operation and the included apartment.
Key Highlights
- For sale as a package: grocery store business plus the building
- Located on a corner property with visibility and high exposure
- Includes an upstairs 3‑bedroom apartment with living room, large kitchen, bath, and finished attic
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$31,167
Cap Rate
4.39%
Suggested Prices Based on Cap Rates
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
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 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.
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Property Analytics
Who owns this building?
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Open Analytics
Current Use
Lease Details
1
Residential units
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
2,431
Businesses Nearby
99k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 53%
Dining 20%
Groceries 16%
Electronics 8%
PNC Bank
Shops & Services
13,747 visits/mo
0.5 miles
Chase Bank
Shops & Services
12,006 visits/mo
0.4 miles
C-Town Supermarkets
Groceries
9,453 visits/mo
0.4 miles
Dunkin' Donuts
Dining
8,729 visits/mo
0.5 miles
Dollar General
Shops & Services
6,535 visits/mo
0.3 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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Northeast region
Similar Off Market Nearby
- Caba Grocery Inc — 147 Brighton Ave, Perth Amboy, NJ 08861
- Brother's Supermarket — 361 Market St, Perth Amboy, NJ 08861
- Tropical Supermarket — 442 Smith St, Perth Amboy, NJ 08861
- Gonzaga Grocery — 341 Prospect St, Perth Amboy, NJ 08861
- Bj Abreu Supermarket — 216 New Brunswick Ave, Perth Amboy, NJ 08861
Frequently Asked Questions
What type of property is this?
Grocery and convenience store - For sale as a package with the building and business on a corner site, plus a 3-bedroom apartment upstairs.
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: For sale as a package: grocery store business plus the building; Located on a corner property with visibility and high exposure; Includes an upstairs 3‑bedroom apartment with living room, large kitchen, bath, and finished attic
