Multifamily Property with Radiant
New
For Sale
$599,900
32 COLUMBIA AVENUE 34, Hopewell, NJ 08525
R75-zoned property with natural gas service, radiant heat, and on-street parking in Hopewell.
Property Size2,340 SF
Price / SF$256.37
Days on Market6
Property Features for 32 COLUMBIA AVENUE 34
General Information
Standard status
Active
Size
2,340 SF
Property subtype
Residential Income
Zoning
R75
Taxes and HOA fees
Annual Taxes
$14,606
Amenities
Sidewalks, Street Lights
Ceiling Fan(s), Window Unit(s), Electric
Natural Gas, Hot Water, Radiant
Full, Unfinished
Gas Water Heater
Ceiling Fan(s)
On Street
Other
Building Details
Building Size
2,340 SF
Year Built
1920
Listing Agency:
Real Broker, LLC
(609) 954-5206
Listed By:
Stefanie R Prettyman · License #1325999
(609) 954-5206
Source:
Evrealestate
Added: Aug 4
Changed: Aug 9
Last Checked: Aug 9 at 7:53AM
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 Real Broker, LLC
Investment Insights
Based on property information with market context.
This multifamily property at 32 Columbia Avenue 34 in Hopewell offers 2,340 square feet of building area. The 1920 construction includes radiant heat, window unit cooling, ceiling fans, natural gas service, hot water, and a gas water heater. A full unfinished basement provides additional interior space.
The property is zoned R75 and includes on-street parking. It is located in Mercer County, with the address identified as 32 Columbia Avenue 34, Hopewell, NJ 08525.
The property is zoned R75 and includes on-street parking. It is located in Mercer County, with the address identified as 32 Columbia Avenue 34, Hopewell, NJ 08525.
Key Highlights
- 2,340 square feet of building area
- R75 zoning in Mercer County
- 1920 construction with full unfinished basement
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
$35,714
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
5.95%
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%
$714,280
$714.3K
Cap Rate 7%
$510,200
$510.2K
Cap Rate 9%
$396,822
$396.8K
Market Conditions
NOI Build-Up for 2,340 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
$70.2K $30.00/SF
− Vacancy
−$5.3K −$2.25/SF
EGI
$64.9K $27.75/SF
− OpEx
−$29.2K −$12.49/SF
NOI
$35.7K $15.26/SF
Area
Mercer County, NJ
Vacancy
7.50%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
45.00%
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%
$714,280
Cap Rate 7%
$510,200
Cap Rate 9%
$396,822
Alternative Uses
Best Use
Apartment 5plus
$510.2K
$446.4K – $595.2K
NOI $35,714 @ 7.0% cap · market cap 5.95%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$752.9K
$658.8K – $878.4K
NOI $52,701 @ 7.0% cap · market cap 8.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
362
Businesses Nearby
Explore this area
Business Placement
Demographics for 08525, NJ
4,649
Population
2,024
Households
2.3
Avg Household Size
46
Median Age
63%
College-Educated
97%
High-School Grad
22.4 sq mi
ZIP Area
208
Density / Sq Mi
$157,868
Median Household Income
$74,138
Median Earnings
$1,646
Median Rent
$551,300
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Multifamily property - R75-zoned property with natural gas service, radiant heat, and on-street parking in Hopewell.
Where is this multifamily property located?
The property is located at 32 COLUMBIA AVENUE 34 Hopewell, NJ.
What is the asking price?
The asking price for this property is $599,900.
What are key features of this property?
This property features: 2,340 square feet of building area; R75 zoning in Mercer County; 1920 construction with full unfinished basement
