Waterfront Mixed-Use
New
For Sale
$599,999
275 Laurence Pkwy, South Amboy, NJ 08879
Two residential units have separate entrances and utilities, with basement space suited to potential business use pending approvals.
Property Size1,120 SF
Days on Market7
Property Features for 275 Laurence Pkwy
General Information
Standard status
Active
Size
1,120 SF
Property subtype
Commercial
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$7,343
Building Details
Building Size
1,120 SF
Year Built
1915
Buildings
1
Stories
3
Tenancy
Multi
Abandoned
No
Listing Agency:
Goldstone Realty
(732) 898-3400
Listed By:
Dominick Ali Jr.
(732) 898-3400
Source:
Elliman
Added: Aug 14
Changed: Aug 15
Last Checked: Aug 19 at 10:02AM
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 Goldstone Realty
Investment Insights
Based on property information with market context.
This mixed-use property includes a two-family residence with separately accessed units and independent utilities. One apartment contains 2 bedrooms and 1 bath, while the other offers 3 bedrooms and 1 bath. The basement adds space that may accommodate a business, office, studio, or other commercial activity, subject to zoning and municipal approvals.
Built in 1915, the property is located at 275 Laurence Pkwy in South Amboy, NJ, within the Laurence Harbor area. Water views are available from the property, with shopping, restaurants, major highways, and public transportation identified nearby. WalkScore is 19 and bikeScore is 35, reflecting a car-dependent and somewhat bikeable setting.
Built in 1915, the property is located at 275 Laurence Pkwy in South Amboy, NJ, within the Laurence Harbor area. Water views are available from the property, with shopping, restaurants, major highways, and public transportation identified nearby. WalkScore is 19 and bikeScore is 35, reflecting a car-dependent and somewhat bikeable setting.
Key Highlights
- Two‑family residence with separate entrances and utilities
- Unit mix includes 2 bedrooms and 1 bath, plus 3 bedrooms and 1 bath
- Basement may support business, office, studio, or other commercial use, subject to approvals
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
$18,745
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
3.12%
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%
$374,900
$374.9K
Cap Rate 7%
$267,786
$267.8K
Cap Rate 9%
$208,278
$208.3K
Market Conditions
NOI Build-Up for 1,120 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
$28.6K $25.56/SF
− Vacancy
−$1.8K −$1.65/SF
EGI
$26.8K $23.91/SF
− OpEx
−$8.0K −$7.17/SF
NOI
$18.7K $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%
$374,900
Cap Rate 7%
$267,786
Cap Rate 9%
$208,278
Alternative Uses
Best Use
Multifamily LT 5
$267.8K
$234.3K – $312.4K
NOI $18,745 @ 7.0% cap · market cap 3.12%
Second Best
Apartment 5plus
$246.0K
$215.3K – $287.1K
NOI $17,223 @ 7.0% cap · market cap 2.87%
Theoretical Best
Office A
$292.5K
$255.9K – $341.2K
NOI $20,472 @ 7.0% cap · market cap 3.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
92
Businesses Nearby
Explore this area
Business Placement
Demographics for 08879, NJ
22,965
Population
9,737
Households
2.4
Avg Household Size
42
Median Age
32%
College-Educated
89%
High-School Grad
7.1 sq mi
ZIP Area
3,235
Density / Sq Mi
$98,000
Median Household Income
$57,998
Median Earnings
$1,633
Median Rent
$377,700
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Two residential units have separate entrances and utilities, with basement space suited to potential business use pending approvals.
Where is this mixed-use property located?
The property is located at 275 Laurence Pkwy South Amboy, NJ.
What is the asking price?
The asking price for this property is $599,999.
What are key features of this property?
This property features: Two‑family residence with separate entrances and utilities; Unit mix includes 2 bedrooms and 1 bath, plus 3 bedrooms and 1 bath; Basement may support business, office, studio, or other commercial use, subject to approvals
