Renovated
For Sale
$1,050,000
245 William Street, Piscataway, NJ 08854
Three-unit configuration with updated kitchens, bathrooms, flooring, paint, and appliances.
Property Size2,956 SF
Price / SF$355.21
Days on Market306
Property Features for 245 William Street
General Information
Standard status
Active
Size
2,956 SF
Total Parking Spaces
2
Property subtype
Multi-Family / Fee Simple
Zoning
R75
Additional Details
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$8,565
Amenities
No
Dishwasher, Oven/Range - Gas, Refrigerator, Range Hood
Combination Kitchen/Dining, Kitchen - Eat-In, Recessed Lighting
Smoke Detector
https://vimeo.com/1130881932/3d910ea24a?fl=ip&fe=ec
No Pool
Above Grade, Below Grade
Building Details
Year Built
1894
Listing Agency:
Kay and Jay Realty Inc
(856) 676-1203
Listed By:
Trang T Nguyen · License #1223575
(856) 676-1203
Source:
Compass
Added: Oct 29, 2025
Changed: Aug 29
Last Checked: Aug 29 at 6:56PM
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 Kay and Jay Realty Inc
Investment Insights
Based on property information with market context.
This three-unit residential income property contains 2,956 square feet and was built in 1894. The current owner completed extensive interior updates, including improvements to the kitchens and bathrooms. Each unit has vinyl flooring throughout, fresh paint, and new appliances, with kitchen features including gas oven/range, refrigerator, range hood, dishwasher, eat-in space, and recessed lighting. Smoke detectors are also present.
The property is located at 245 William Street in Piscataway, Middlesex County, within the Piscataway Township MLS area. It carries R75 zoning and is served by Piscataway Township Public Schools. The three-unit layout supports an owner-occupant arrangement with two additional units available for rental use, as described in the property information.
The property is located at 245 William Street in Piscataway, Middlesex County, within the Piscataway Township MLS area. It carries R75 zoning and is served by Piscataway Township Public Schools. The three-unit layout supports an owner-occupant arrangement with two additional units available for rental use, as described in the property information.
Key Highlights
- Three‑unit property with 2,956 square feet
- R75 zoning in Piscataway, Middlesex County
- Updated kitchens and bathrooms throughout the property
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
$49,472
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
4.71%
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%
$989,440
$989.4K
Cap Rate 7%
$706,743
$706.7K
Cap Rate 9%
$549,689
$549.7K
Market Conditions
NOI Build-Up for 2,956 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
$75.6K $25.56/SF
− Vacancy
−$4.9K −$1.65/SF
EGI
$70.7K $23.91/SF
− OpEx
−$21.2K −$7.17/SF
NOI
$49.5K $16.74/SF
Area
Middlesex County, NJ
Vacancy
6.46%
Lease Rate
$25.56 /SF/Yr
Expense Ratio
30.00%
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%
$989,440
Cap Rate 7%
$706,743
Cap Rate 9%
$549,689
Alternative Uses
Best Use
Multifamily LT 5
$706.7K
$618.4K – $824.5K
NOI $49,472 @ 7.0% cap · market cap 4.71%
Second Best
Apartment 5plus
$649.4K
$568.2K – $757.6K
NOI $45,457 @ 7.0% cap · market cap 4.33%
Theoretical Best
Office A
$771.9K
$675.4K – $900.5K
NOI $54,031 @ 7.0% cap · market cap 5.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
377
Businesses Nearby
Explore this area
Business Placement
Demographics for 08854, NJ
60,545
Population
18,069
Households
3.4
Avg Household Size
34
Median Age
50%
College-Educated
92%
High-School Grad
18.9 sq mi
ZIP Area
3,203
Density / Sq Mi
$126,331
Median Household Income
$42,397
Median Earnings
$1,929
Median Rent
$423,900
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Three-unit configuration with updated kitchens, bathrooms, flooring, paint, and appliances.
Where is this triplex located?
The property is located at 245 William Street Piscataway, NJ.
What is the asking price?
The asking price for this property is $1,050,000.
What are key features of this property?
This property features: Three‑unit property with 2,956 square feet; R75 zoning in Piscataway, Middlesex County; Updated kitchens and bathrooms throughout the property
