Mixed-Use Building with Retail
For Sale
$650,000
353 FARNSWORTH AVENUE, Bordentown, NJ 08505
Ground-floor storefront is leased through July 2027, with a two-bedroom residential apartment on the second floor.
Property Size2,300 SF
Price / SF$282.61
Days on Market52
Property Features for 353 FARNSWORTH AVENUE
General Information
Standard status
Active
Size
2,300 SF
Property subtype
Duplex
Zoning
Local Commercial
Building Details
Year Built
1988
Listing Agency:
Remax Welcome Home
(609) 333-5800
Listed By:
Adam Bless
(609) 433-7147
Source:
Cummingsrealtors
Added: Jul 20
Changed: Sep 8
Last Checked: Sep 8 at 5:56AM
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 Remax Welcome Home
Investment Insights
Based on property information with market context.
This mixed-use property includes a ground-floor commercial storefront and a second-floor two-bedroom residential apartment. The ground-floor storefront is currently leased through July 2027, providing income from day one, while the second floor is occupied by a stable tenant.
Located at 353 Farnsworth Avenue in Bordentown City, the property is described as local commercial zoned and benefits from street exposure along Farnsworth Avenue. The surrounding area is positioned for retail and dining activity.
For a buyer seeking an income-producing configuration with both commercial and residential components, this setup offers an actively leased retail space paired with a residential apartment above.
Located at 353 Farnsworth Avenue in Bordentown City, the property is described as local commercial zoned and benefits from street exposure along Farnsworth Avenue. The surrounding area is positioned for retail and dining activity.
For a buyer seeking an income-producing configuration with both commercial and residential components, this setup offers an actively leased retail space paired with a residential apartment above.
Key Highlights
- Mixed‑use building built in 1988 with a ground‑floor commercial storefront and a second‑floor 2‑bedroom apartment
- Ground‑floor storefront is leased through July 2027 for immediate rental income
- Second floor includes a well‑maintained 2‑bedroom residential unit with a stable tenant
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
$30,125
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
4.63%
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%
$602,500
$602.5K
Cap Rate 7%
$430,357
$430.4K
Cap Rate 9%
$334,722
$334.7K
Market Conditions
NOI Build-Up for 2,300 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
$58.0K $25.20/SF
− Vacancy
−$3.2K −$1.39/SF
EGI
$54.8K $23.81/SF
− OpEx
−$24.6K −$10.72/SF
NOI
$30.1K $13.10/SF
Area
Burlington County, NJ
Vacancy
5.50%
Lease Rate
$25.20 /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%
$602,500
Cap Rate 7%
$430,357
Cap Rate 9%
$334,722
Alternative Uses
Best Use
Apartment 5plus
$430.4K
$376.6K – $502.1K
NOI $30,125 @ 7.0% cap · market cap 4.63%
Second Best
Specialty Retail
$423.6K
$370.7K – $494.2K
NOI $29,653 @ 7.0% cap · market cap 4.56%
Theoretical Best
Warehouse
$4.81M
$4.21M – $5.61M
NOI $336,728 @ 7.0% cap · market cap 51.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
627
Businesses Nearby
59k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 40%
Groceries 33%
Dining 27%
Aldi
Groceries
19,701 visits/mo
0.5 miles
Dunkin' Donuts
Dining
15,834 visits/mo
0.5 miles
AutoZone
Shops & Services
11,662 visits/mo
0.5 miles
Valero Energy
Shops & Services
10,720 visits/mo
0.5 miles
Beneficial Bank
Shops & Services
1,524 visits/mo
0.0 miles
Demographics for 08505, NJ
18,178
Population
7,792
Households
2.3
Avg Household Size
43
Median Age
43%
College-Educated
96%
High-School Grad
22.5 sq mi
ZIP Area
808
Density / Sq Mi
$111,946
Median Household Income
$65,422
Median Earnings
$1,586
Median Rent
$353,200
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Ground-floor storefront is leased through July 2027, with a two-bedroom residential apartment on the second floor.
Where is this mixed-use property located?
The property is located at 353 FARNSWORTH AVENUE Bordentown, NJ.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: Mixed‑use building built in 1988 with a ground‑floor commercial storefront and a second‑floor 2‑bedroom apartment; Ground‑floor storefront is leased through July 2027 for immediate rental income; Second floor includes a well‑maintained 2‑bedroom residential unit with a stable tenant
