Building Details

Year Built 2015

Listing Agency: WEICHERT REALTORS Show Phone

Listed By: MARIE NEWELL

Source: Corcoran

Added: Jun 26, 2025 Changed: Aug 8 Last Checked: Aug 25 at 8:01AM

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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 WEICHERT REALTORS

Investment Insights

Based on property information with market context.

This well-maintained apartment building, constructed in 2015, is situated on approximately 2 acres. The property features 13 apartments, with 12 located in the main building and 1 in the carriage house. The unit mix includes 6 one-bedroom and 6 two-bedroom apartments. The building was designed as a green building with a low carbon footprint. Each unit includes a kitchen, living room, and full bath, with some units also featuring private balconies or porches. Interior features include maple wood floors, Anderson windows, and Corian countertops. The apartments have 9-foot ceilings, carpeted hallways, and double sheetrock walls for sound control. Four units are handicapped accessible. The building is equipped with an alarm and fire sprinkler system, along with a Swiftkey lock system. A 2590-gallon water tank is located in the basement for fire prevention. Additional amenities include ample off-street parking, a coin-operated laundry area in the basement, and Wi-Fi throughout the building. Two EV car chargers are available for electric vehicle use. The property is located in a scenic rural area, commutable to Princeton, Flemington, and Lambertville. The building has a total size of 10704 square feet.

Key Highlights

• Well‑maintained apartment building built in 2015, featuring 13 units (mix of 1 and 2‑bedroom apartments).
• Green building design promotes low carbon footprint and reduces tenant costs.
• Quality construction with MAPLE WOOD FLOORS, ANDERSON WINDOWS, and CORIAN COUNTERTOPS.

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$164,606

Cap Rate

5.68%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$3,292,120 $3.3M

Cap Rate 7%

$2,351,514 $2.4M

Cap Rate 9%

$1,828,956 $1.8M

Market Conditions

NOI Build-Up for 10,704 SF

Gross rent

$321.1K $30.00/SF

− Vacancy

−$21.8K −$2.04/SF

EGI

$299.3K $27.96/SF

− OpEx

−$134.7K −$12.58/SF

NOI

$164.6K $15.38/SF

Area

Hunterdon County, NJ

Vacancy

6.80%

Lease Rate

$30.00 /SF/Yr

Expense Ratio

45.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$3,292,120

Cap Rate 7%

$2,351,514

Cap Rate 9%

$1,828,956

Alternative Uses

Best Use

Apartment 5plus

$2.35M

$2.06M – $2.74M (±1% cap)

NOI $164,606 @ 7.0% cap · market cap 5.68%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$2.80M

$2.45M – $3.26M (±1% cap)

NOI $195,652 @ 7.0% cap · market cap 6.75%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Nadine Heitz Physician Historic Wertsville Tour Operator

Suggested Use

Top Pick Auto Repair Shop Plumbing Service Kitchen & Bath Showroom Skin Care Clinic Spa & Massage Center

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

13

Businesses Nearby

Explore this area Business Placement

Demographics for 08551, NJ

5,540

Population

2,196

Households

2.5

Avg Household Size

48

Median Age

65%

College-Educated

97%

High-School Grad

26.2 sq mi

ZIP Area

211

Density / Sq Mi

$154,966

Median Household Income

$70,446

Median Earnings

$2,125

Median Rent

$580,400

Median Home Value

Market

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

Questions? Ask Rey

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What type of property is this? Where is this apartment buildings located? What is the asking price? Find similar properties What are key features of this property?

Frequently Asked Questions

What type of property is this?

Apartment building - Well-maintained apartment building with modern amenities in a scenic location.

Where is this apartment building located?

The property is located at 2 Lindbergh Rd East Amwell Twp, NJ.

What is the asking price?

The asking price for this property is $2,900,000.

What are key features of this property?

This property features: Well‑maintained apartment building built in 2015, featuring 13 units (mix of 1 and 2‑bedroom apartments).; Green building design promotes low carbon footprint and reduces tenant costs.; Quality construction with MAPLE WOOD FLOORS, ANDERSON WINDOWS, and CORIAN COUNTERTOPS.