Mixed-Use Property with
New
For Sale
$879,000
348 prospect Street, Perth Amboy, NJ 08861
Commercial Sale, Perth Amboy, NJ
Property Size2,500 SF
Lot Size0.06 Acres
Price / SF$351.60
Days on Market3
Property Features for 348 prospect Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
C-1
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 2, Bathroom 1, Bathroom 3
Parking
3
Lot features
Residential Area
Directions
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Standard status
Active
APN
1600117000000028
Size
2,500 SF
Lot size
0.06 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
10883
Utilities
Sewer type
Public Sewer
Heating system
Central, Radiant, Baseboard
Cooling system
Central Air
Water source
Public
Building Details
Year built
1902
Floors in Building
2
Number of units
3
Flooring type
Laminate, Tile, Wood
Building materials
Stucco
Roof type
Composition
Listing Agency:
J.J. ELEK REALTY CO.
Listed By:
Antonio Rosario
(732) 634-9100
Added: Oct 20
Changed: Oct 22
Last Checked: Oct 22 at 10:06AM
MLS# 2706627R
Copyright © 2026 All Jersey MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
Two buildings combine residential units with an operating restaurant. One building contains two apartments: a two-bedroom unit and a three-bedroom unit, each with a living room, eat-in kitchen, and full bathroom. A partial basement adds storage space.
The second building includes restaurant space and a one-bedroom apartment on the second floor. That apartment has a living room, eat-in kitchen, and full bathroom. A driveway provides parking for two vehicles. The property measures 2,500 square feet on a 0.0574-acre lot and is zoned C-1.
The second building includes restaurant space and a one-bedroom apartment on the second floor. That apartment has a living room, eat-in kitchen, and full bathroom. A driveway provides parking for two vehicles. The property measures 2,500 square feet on a 0.0574-acre lot and is zoned C-1.
Key Highlights
- Two‑building mixed‑use property with three apartments and restaurant space
- 2,500 square feet on a 0.0574‑acre lot
- Two‑family building includes two‑bedroom and three‑bedroom apartments
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$38,445
Cap Rate
4.37%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$768,900
$768.9K
Cap Rate 7%
$549,214
$549.2K
Cap Rate 9%
$427,167
$427.2K
Market Conditions
NOI Build-Up for 2,500 SF
Gross rent
$75.0K $30.00/SF
− Vacancy
−$5.1K −$2.04/SF
EGI
$69.9K $27.96/SF
− OpEx
−$31.5K −$12.58/SF
NOI
$38.4K $15.38/SF
Area
Middlesex County, NJ
Vacancy
6.80%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$768,900
Cap Rate 7%
$549,214
Cap Rate 9%
$427,167
Alternative Uses
Best Use
Apartment 5plus
$549.2K
$480.6K – $640.8K
NOI $38,445 @ 7.0% cap · market cap 4.37%
Second Best
Specialty Retail
$546.2K
$477.9K – $637.2K
NOI $38,232 @ 7.0% cap · market cap 4.35%
Theoretical Best
Office A
$652.8K
$571.2K – $761.6K
NOI $45,696 @ 7.0% cap · market cap 5.20%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
3
Residential units
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
2,618
Businesses Nearby
Explore this area
Business Placement
Demographics for 08861, NJ
58,039
Population
21,032
Households
2.8
Avg Household Size
35
Median Age
16%
College-Educated
70%
High-School Grad
5.1 sq mi
ZIP Area
11,380
Density / Sq Mi
$60,464
Median Household Income
$34,093
Median Earnings
$1,623
Median Rent
$340,900
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Three apartments accompany a restaurant business across a two-building property.
Where is this mixed-use property located?
The property is located at 348 prospect Street Perth Amboy, NJ.
What is the asking price?
The asking price for this property is $879,000.
What are key features of this property?
This property features: Two‑building mixed‑use property with three apartments and restaurant space; 2,500 square feet on a 0.0574‑acre lot; Two‑family building includes two‑bedroom and three‑bedroom apartments
