Triplex with Barber
New
For Sale
$699,900
2841 S BROAD STREET, Trenton, NJ 08610
Corner property with a barber shop and two apartment units, including one unit ready for interior completion.
Property Size1,584 SF
Price / SF$441.86
Days on Market5
Property Features for 2841 S BROAD STREET
General Information
Standard status
Active
Size
1,584 SF
Property subtype
Triplex
Property Condition
Severity
Minor
Evidence
awaiting your creative finishing touches
Additional Details
Corner Location
Yes
Building Details
Year Built
1900
Listing Agency:
Weichert Realtors - Princeton
(609) 504-6888
Listed By:
Christopher E Bell · License #9587028
(609) 504-6888
Source:
Cummingsrealtors
Added: Aug 11
Changed: Aug 14
Last Checked: Aug 14 at 6:07AM
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
Investment Insights
Based on property information with market context.
This 1,584-square-foot triplex combines a barber shop with two one-bedroom apartment units. The commercial space includes two styling chairs, a shampoo station, a restroom, and a separate office that can be closed off from the main shop area. One apartment is gutted and unfinished, allowing for a customized buildout; the office layout also provides a potential path to reconfiguring the first-floor unit as a two-bedroom apartment. The upper apartment is occupied.
Built in 1900, the property sits on Broad Street in Trenton and is identified as a corner property. Its mixed commercial and residential configuration provides multiple existing components within a single building.
Built in 1900, the property sits on Broad Street in Trenton and is identified as a corner property. Its mixed commercial and residential configuration provides multiple existing components within a single building.
Key Highlights
- 1,584 SF triplex with a barber shop and two one‑bedroom apartments
- Barber shop includes two styling chairs, a shampoo station, restroom, and separate office
- First‑floor apartment is gutted and ready for interior completion
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
$27,992
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
4.00%
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%
$559,840
$559.8K
Cap Rate 7%
$399,886
$399.9K
Cap Rate 9%
$311,022
$311.0K
Market Conditions
NOI Build-Up for 1,584 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
$42.8K $27.00/SF
− Vacancy
−$2.8K −$1.76/SF
EGI
$40.0K $25.25/SF
− OpEx
−$12.0K −$7.57/SF
NOI
$28.0K $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%
$559,840
Cap Rate 7%
$399,886
Cap Rate 9%
$311,022
Alternative Uses
Best Use
Multifamily LT 5
$399.9K
$349.9K – $466.5K
NOI $27,992 @ 7.0% cap · market cap 4.00%
Second Best
Apartment 5plus
$345.4K
$302.2K – $402.9K
NOI $24,176 @ 7.0% cap · market cap 3.45%
Theoretical Best
Warehouse
$509.6K
$445.9K – $594.6K
NOI $35,674 @ 7.0% cap · market cap 5.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
879
Businesses Nearby
Explore this area
Business Placement
Demographics for 08610, NJ
32,649
Population
12,363
Households
2.6
Avg Household Size
38
Median Age
25%
College-Educated
89%
High-School Grad
7.4 sq mi
ZIP Area
4,412
Density / Sq Mi
$87,159
Median Household Income
$43,990
Median Earnings
$1,491
Median Rent
$248,900
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 - Corner property with a barber shop and two apartment units, including one unit ready for interior completion.
Where is this triplex located?
The property is located at 2841 S BROAD STREET Trenton, NJ.
What is the asking price?
The asking price for this property is $699,900.
What are key features of this property?
This property features: 1,584 SF triplex with a barber shop and two one‑bedroom apartments; Barber shop includes two styling chairs, a shampoo station, restroom, and separate office; First‑floor apartment is gutted and ready for interior completion
