Building Details

Year Built 1950

Listing Agency: WEICHERT REALTORS-PRINCETON JUNCTION Show Phone

Listed By: KARLA ROMAN · License #2335870 Show Phone

Source: Corcoran

Added: Jan 1 Changed: Oct 7 Last Checked: Oct 16 at 9:20AM

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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 WEICHERT REALTORS-PRINCETON JUNCTION

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Review the available facts, identify missing information and prepare questions for the agent.

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Investment Insights

Based on property information with market context.

This well-established auto repair shop is a longstanding location with a strong community presence. The property features a 4,120 square foot solid brick building with 5 service bays, equipped with 3 operating vehicle lifts and oil/water drains. It also includes a private office. Situated on a 100 x 100 lot, the property provides ample space for parking and maneuvering. It is strategically located near public transportation options, including a bus stop less than a mile away and a metro station within three miles. The property is located in an Urban Enterprise Zone.

Key Highlights

• Turnkey auto repair shop ready for immediate operation.
• Solid brick building offering 4,120 SF with 5 service bays and 3 operating vehicle lifts.
• Longstanding location with a strong community presence.

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$61,611

Cap Rate

8.23%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,232,220 $1.2M

Cap Rate 7%

$880,157 $880.2K

Cap Rate 9%

$684,567 $684.6K

Is this asking price fair?

Market Conditions

NOI Build-Up for 4,120 SF

Gross rent

$92.5K $22.44/SF

− Vacancy

−$4.4K −$1.08/SF

EGI

$88.0K $21.36/SF

− OpEx

−$26.4K −$6.41/SF

NOI

$61.6K $14.95/SF

Area

Mercer County, NJ

Vacancy

4.80%

Lease Rate

$22.44 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,232,220

Cap Rate 7%

$880,157

Cap Rate 9%

$684,567

Alternative Uses

Best Use

Industrial

$1.10M

$963.5K – $1.28M (±1% cap)

NOI $77,079 @ 7.0% cap · market cap 10.29%

Second Best

Retail

$880.2K

$770.1K – $1.03M (±1% cap)

NOI $61,611 @ 7.0% cap · market cap 8.23%

Theoretical Best

Warehouse

$1.33M

$1.16M – $1.55M (±1% cap)

NOI $92,789 @ 7.0% cap · market cap 12.39%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Auto shops

Suggested Use

Top Pick (Bike/Boat/Book/etc) Store Butcher Home Appliance Store Catering Service Garden Center Carpet & Flooring Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

2,293

Businesses Nearby

7k

Monthly Visits Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Foot Traffic Nearby

Shops & Services 100%

Phillips 66 Shops & Services

5,035 visits/mo 0.3 miles

U-Haul Shops & Services

2,283 visits/mo 0.1 miles

Demographics for 08618, NJ

37,544

Population

15,284

Households

2.5

Avg Household Size

34

Median Age

24%

College-Educated

86%

High-School Grad

5.9 sq mi

ZIP Area

6,363

Density / Sq Mi

$48,179

Median Household Income

$33,040

Median Earnings

$1,117

Median Rent

$211,800

Median Home Value

Market

Vacancy Rate% for Retail in Northeast region

6% 2019

7.1% 2020

6.5% 2021

6% 2022

5.7% 2023

5.6% 2024

6% 2025

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Frequently Asked Questions

What type of property is this?

Auto shop - Turnkey auto repair shop with five service bays for sale.

Where is this auto shop located?

The property is located at 28 -30 Passaic St Trenton, NJ.

What is the asking price?

The asking price for this property is $749,000.

What are key features of this property?

This property features: Turnkey auto repair shop ready for immediate operation.; Solid brick building offering 4,120 SF with 5 service bays and 3 operating vehicle lifts.; Longstanding location with a strong community presence.