Historic Four-Unit
For Sale
$875,000
Pending
2695 Main Street, Lawrence Township, NJ 08648
Vacant rental property with separately metered utilities, off-street parking, hardwood floors, exposed beams, and select fireplaces.
Property Size3,964 SF
Days on Market249
Property Features for 2695 Main Street
General Information
Standard status
Pending
Size
3,964 SF
Total Parking Spaces
5
Property subtype
Multi-Family / Fee Simple
Zoning
R-2B
Additional Details
Utilities to Site
Yes
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$14,540
Amenities
No
No Pool
Above Grade, Below Grade
Building Details
Year Built
1750
Listing Agency:
Coldwell Banker Residential Brokerage-Princeton Jct
(609) 201-8957
Listed By:
Candice Lockhart · License #2187766
(609) 201-8957
Source:
Compass
Added: Dec 25, 2025
Changed: Aug 30
Last Checked: Aug 30 at 10:50PM
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 Coldwell Banker Residential Brokerage-Princeton Jct
Investment Insights
Based on property information with market context.
Built in 1750, this 3,964-square-foot quadplex contains four rental units and is currently fully vacant, allowing prospective buyers to view the complete property. The units feature hardwood flooring and exposed beams, with fireplaces in select residences. Utilities are separately metered, and off-street parking accommodates multiple tenants. The property is zoned R-2B and is being sold as-is, with the buyer responsible for due diligence, any required rehabilitation, and obtaining the township certificate of occupancy.
The property is located at 2695 Main Street in Lawrence Township, near Starbucks, Lawrenceville Presbyterian Church, The Lawrenceville School, and shops and dining in downtown Lawrenceville. Its location provides access to an established, walkable area with nearby commercial, institutional, and community destinations.
The property is located at 2695 Main Street in Lawrence Township, near Starbucks, Lawrenceville Presbyterian Church, The Lawrenceville School, and shops and dining in downtown Lawrenceville. Its location provides access to an established, walkable area with nearby commercial, institutional, and community destinations.
Key Highlights
- Four rental units with all utilities separately metered
- 3,964‑square‑foot property built in 1750
- Fully vacant and available for complete property showings
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
$70,050
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
8.01%
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%
$1,401,000
$1.4M
Cap Rate 7%
$1,000,714
$1.0M
Cap Rate 9%
$778,333
$778.3K
Market Conditions
NOI Build-Up for 3,964 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
$107.0K $27.00/SF
− Vacancy
−$7.0K −$1.76/SF
EGI
$100.1K $25.25/SF
− OpEx
−$30.0K −$7.57/SF
NOI
$70.0K $17.67/SF
Area
Mercer County, NJ
Vacancy
6.50%
Lease Rate
$27.00 /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%
$1,401,000
Cap Rate 7%
$1,000,714
Cap Rate 9%
$778,333
Alternative Uses
Best Use
Multifamily LT 5
$1.00M
$875.6K – $1.17M
NOI $70,050 @ 7.0% cap · market cap 8.01%
Second Best
Apartment 5plus
$864.3K
$756.3K – $1.01M
NOI $60,501 @ 7.0% cap · market cap 6.91%
Theoretical Best
Warehouse
$1.28M
$1.12M – $1.49M
NOI $89,276 @ 7.0% cap · market cap 10.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
320
Businesses Nearby
Explore this area
Business Placement
Demographics for 08648, NJ
31,955
Population
12,217
Households
2.6
Avg Household Size
40
Median Age
60%
College-Educated
92%
High-School Grad
16.7 sq mi
ZIP Area
1,913
Density / Sq Mi
$118,036
Median Household Income
$54,833
Median Earnings
$1,953
Median Rent
$395,400
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?
Quadplex - Vacant rental property with separately metered utilities, off-street parking, hardwood floors, exposed beams, and select fireplaces.
Where is this quadplex located?
The property is located at 2695 Main Street Lawrence Township, NJ.
What is the asking price?
The asking price for this property is $875,000.
What are key features of this property?
This property features: Four rental units with all utilities separately metered; 3,964‑square‑foot property built in 1750; Fully vacant and available for complete property showings
