Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    23 Carlton Street South Edison, NJ 8837

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $799,900

    Fully renovated two-family home with two-bedroom apartments in prime location.

    Type:Multi-Family / Duplex
    Added:
    Dec 11, 2025
    Days on Market:
    127
    Last Refresh:
    Mar 13 at 4:39 pm

    Property Features for 23 Carlton Street South

    General Information

    Standard status
    Active
    Property subtype
    Multi-Family / Duplex

    We can help!

    Listing Contact
    MICHELLE RIZZO

    Listing agent MICHELLE RIZZO License #243776

    Listing office RE/MAX DIAMOND, REALTORS

    Listing date Dec 11, 2025

    Source Compass

    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 RE/MAX DIAMOND, REALTORS

    Overview

    Renovated Two-Family Home

    This is a renovated two-family home featuring two spacious two-bedroom apartments. Each unit has been updated and offers bright, open layouts with new kitchens and stylish bathrooms. Full appliance packages are included. The property includes a full basement that provides storage space. There is also a private yard suitable for relaxing, entertaining, or gardening. The property is located close to shopping, transportation, schools, and major highways.
    Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Pharmacy

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Edison
    County
    Middlesex
    State
    New Jersey
    Longitude
    -74.3270119
    Latitude
    40.5326643

    Nearby Similar for Sale

    • $1,400
      5,000 SF

      Edison Professional Office Suites

      Affordable office suites in a well-maintained Edison building.
      6 Kilmer Road unit: 1, Edison, NJ 08817
      View Details
    • $4,200
      24,000 SF

      Edison Office Space For Sale

      Office spaces available, suitable for medical, law, or general use.
      25 S Main Street, Edison, NJ 08837
      View Details
    • $370,000
      1,270 SF

      Edison Office Space For Sale

      Prime office space in a thriving business district.
      22 Meridian Road unit: 3, Edison, NJ 08820
      View Details
    • $4,200
      1,900 SF

      Edison Retail Space Available

      Highly visible retail space in Mill Plaza, Edison, NJ.
      2595 Woodbridge Avenue, Edison, NJ 08817
      View Details
    • $1,500,000
      5,815 SF

      Edison Commercial Property For Sale

      Commercial property in Edison, NJ, ideal for various business ventures.
      37 Progress Street unit: B2, Edison, NJ 08820
      View Details
    • $1,500,000
      3,800 SF

      Edison Office Space Near Transit

      Move-in ready office space near Metro Park Train Station.
      2 State Route 27 Highway unit: 100, Edison, NJ 08820
      View Details
    • $10,000
      5,815 SF

      Edison Commercial Flex Space Available

      Flex space available for sale in Edison, New Jersey.
      37 Progress Street unit: B2, Edison, NJ 08820
      View Details
    • $5,000
      4,919 SF

      Oak Tree Road Commercial Space

      Two-story commercial space on Oak Tree Road in Edison.
      1818 Oak Tree Road, Edison, NJ 08820
      View Details
    • $9,000
      60,000 SF

      Edison Warehouse Space Available

      Two warehouse spaces available in North Edison with flexible layouts.
      3880 Park Avenue, Edison, NJ 08820
      View Details
    • $13,000
      3,500 SF

      Turnkey Restaurant in Edison, NJ

      Turnkey restaurant in high-traffic area near major transportation routes.
      3126 WOODBRIDGE Avenue, Edison, NJ 08837
      View Details
    • $16
      5,000 SF

      Edison Commercial Flex Space

      Flex space available in Edison, New Jersey.
      54 Kellogg Court, Edison, NJ 08817
      View Details
    • $550,000
      1,614 SF

      Edison Mixed-Use Investment Opportunity

      Mixed-use building in Edison with high visibility and income.
      1595 Lincoln Hwy Rt.27, Edison, NJ 08817
      View Details

    FAQs

    What type of property is this?
    Duplex - Fully renovated two-family home with two-bedroom apartments in prime location.
    Where is this duplex located?
    The property is located at 23 Carlton Street South Edison, NJ.
    What is the asking price?
    The asking price for this property is $799,900.
    What are key features of this property?
    This property features: Fully renovated two‑family home, ideal for investors or owner‑occupants seeking rental income.; Two spacious two‑bedroom apartments with bright, open layouts.; **New kitchens and stylish bathrooms with full appliance packages in both units.**
    (732) 549-9500
    We can help!
    Listing Contact
    MICHELLE RIZZO
    Real Estate License ID: 243776
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!