11-Unit Apartment
For Sale
Contact for pricing
261 French Street, New Brunswick, NJ 08901
New Brunswick multifamily property with studios, one-bedroom apartments, and a two-bedroom apartment.
Property Size9,050 SF
Price / SF$204.42
Days on Market58
Property Features for 261 French Street
General Information
Standard status
Active
Size
9,050 SF
Class
C
Total Parking Spaces
11
Property subtype
Multifamily
Zoning
5TH
Site & Location
Highway Access
Yes
Public Transit
Yes
Units
Unit Mix
4 x studio, 6 x 1BR, 1 x 2BR
Multifamily Units
11
Building Details
Year Built
1950
Buildings
1
Units
11
Listing Agency:
GREA
Listed By:
Ken Wellar · License #PA 10401252368
Source:
Crexi
Added: Aug 17
Changed: Oct 13
Last Checked: Oct 12 at 6:18PM
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 GREA
Investment Insights
Based on property information with market context.
Located at 261 French Street in New Brunswick, this 9,050-square-foot apartment building contains 11 units: four studios, six one-bedroom apartments, and one two-bedroom apartment. Constructed in 1950, the property is zoned 5TH and offers a mix of apartment layouts within an established multifamily asset.
The property is near Rutgers University, Robert Wood Johnson University Hospital, Saint Peter's University Hospital, and Downtown New Brunswick restaurants, cafés, retailers, and entertainment venues. NJ Transit service is nearby with direct rail connections to New York City and surrounding employment centers. Route 18, Route 27, and the New Jersey Turnpike provide regional roadway access.
The property information identifies apartment interiors and common areas as potential areas for renovation, with storage and laundry cited as possible ancillary income sources.
The property is near Rutgers University, Robert Wood Johnson University Hospital, Saint Peter's University Hospital, and Downtown New Brunswick restaurants, cafés, retailers, and entertainment venues. NJ Transit service is nearby with direct rail connections to New York City and surrounding employment centers. Route 18, Route 27, and the New Jersey Turnpike provide regional roadway access.
The property information identifies apartment interiors and common areas as potential areas for renovation, with storage and laundry cited as possible ancillary income sources.
Key Highlights
- 11‑unit apartment building with 9,050 square feet
- Unit mix includes 4 studios, 6 one‑bedroom apartments, and 1 two‑bedroom apartment
- Built in 1950 and zoned 5TH
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$139,171
Cap Rate
7.52%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,783,420
$2.8M
Cap Rate 7%
$1,988,157
$2.0M
Cap Rate 9%
$1,546,344
$1.5M
Market Conditions
NOI Build-Up for 9,050 SF
Gross rent
$271.5K $30.00/SF
− Vacancy
−$18.5K −$2.04/SF
EGI
$253.0K $27.96/SF
− OpEx
−$113.9K −$12.58/SF
NOI
$139.2K $15.38/SF
Area
Middlesex 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%
$2,783,420
Cap Rate 7%
$1,988,157
Cap Rate 9%
$1,546,344
Alternative Uses
Best Use
Apartment 5plus
$1.99M
$1.74M – $2.32M
NOI $139,171 @ 7.0% cap · market cap 7.52%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.36M
$2.07M – $2.76M
NOI $165,420 @ 7.0% cap · market cap 8.94%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Current Use
Lease Details
11
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
2,061
Businesses Nearby
Explore this area
Business Placement
Demographics for 08901, NJ
56,278
Population
17,071
Households
3.3
Avg Household Size
27
Median Age
24%
College-Educated
66%
High-School Grad
6.3 sq mi
ZIP Area
8,933
Density / Sq Mi
$60,248
Median Household Income
$25,192
Median Earnings
$1,790
Median Rent
$316,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Apartment building - New Brunswick multifamily property with studios, one-bedroom apartments, and a two-bedroom apartment.
Where is this apartment building located?
The property is located at 261 French Street New Brunswick, NJ.
What is the asking price?
The asking price for this property is $1,850,000.
What are key features of this property?
This property features: 11‑unit apartment building with 9,050 square feet; Unit mix includes 4 studios, 6 one‑bedroom apartments, and 1 two‑bedroom apartment; Built in 1950 and zoned 5TH
