Brick Mixed-Use Building with
For Sale
$1,500,000
383 Avenue C Bayonne, Bayonne, NJ 07002
Solid brick mixed-use property with five residential units and a ground-floor storefront plus updated rooftop and utility separation.
Property Size5,235 SF
Price / SF$286.53
Days on Market51
Property Features for 383 Avenue C Bayonne
General Information
Standard status
Active
Size
5,235 SF
Zoning
R-3
Net Operating Income
$75,485
Additional Details
Business Included
Yes
Multifamily Units
5
Taxes and HOA fees
Annual Taxes
$14,816
Amenities
BAYONNE
Flat
Public Sewer
HUDSON
ACTIVE
R-3
Hot Water
21
Bayonne City (20901)
2024
Insurance,Water,Trash Collection,Taxes - Real Estate,Sewer
Fee Simple
via North St and Avenue C,Head toward John F. Kennedy Blvd,Turn left onto Avenue C,Destination will be on the left.
0-30 Days CD
1978
108000.00
Apartment Building,Apartments,Convenience Store,Multi-Family,Office
Investment
Apartment Building
Commercial Sale
6746.00
Square Feet
Active
No
Mixed Use
10508.20
32515.00
14816.0
Estimated
529900.0
Cash,Conventional
2500.00
75485.00
Brick,Block
286.53
Hardwood,Tile/Brick,Vinyl
Natural Gas
Yes
6
Level,Not In Development
Public
5X100
0.06
On Street
Paved
5235.00
Building Details
Building Size
5,235 SF
Year Built
1978
Listing Agency:
(609) 891-3848
Listed By:
Jillian Chianese
(609) 891-3848
Source:
Remaxwelcomehomenj
Added: Jul 10
Changed: Aug 28
Last Checked: Aug 28 at 7:22AM
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 Jillian Chianese
Investment Insights
Based on property information with market context.
This solid brick mixed-use property features five residential units and a ground-floor storefront. The residential layout includes two 3-bedroom apartments and three 2-bedroom apartments. Improvements include a new silver-coated flat roof, wood and vinyl tile flooring, a full basement, and a private backyard.
The building is set up with 7 separate electrical meters and 6 gas meters. Each unit has an individual gas water heater and gas heating units, supporting independent utility management. A fire escape is also included for safety.
Located at 383 Avenue C in Bayonne, NJ, the property offers an income-producing configuration combining multiple residential units with retail space on the ground level.
The building is set up with 7 separate electrical meters and 6 gas meters. Each unit has an individual gas water heater and gas heating units, supporting independent utility management. A fire escape is also included for safety.
Located at 383 Avenue C in Bayonne, NJ, the property offers an income-producing configuration combining multiple residential units with retail space on the ground level.
Key Highlights
- Mixed‑use solid brick building with 5 residential units plus a ground‑floor storefront
- Unit mix includes two 3‑bedroom apartments and three 2‑bedroom apartments
- Year built 1978; 5,235 SF total building area with a full basement and private backyard
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
$80,504
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
5.37%
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%
$1,610,080
$1.6M
Cap Rate 7%
$1,150,057
$1.2M
Cap Rate 9%
$894,489
$894.5K
Market Conditions
NOI Build-Up for 5,235 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
$157.1K $30.00/SF
− Vacancy
−$10.7K −$2.04/SF
EGI
$146.4K $27.96/SF
− OpEx
−$65.9K −$12.58/SF
NOI
$80.5K $15.38/SF
Area
Hudson 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 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%
$1,610,080
Cap Rate 7%
$1,150,057
Cap Rate 9%
$894,489
Alternative Uses
Best Use
Apartment 5plus
$1.15M
$1.01M – $1.34M
NOI $80,504 @ 7.0% cap · market cap 5.37%
Second Best
Retail
$1.07M
$934.0K – $1.25M
NOI $74,721 @ 7.0% cap · market cap 4.98%
Theoretical Best
Warehouse
$1.90M
$1.66M – $2.21M
NOI $132,695 @ 7.0% cap · market cap 8.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
5
Residential units
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
2,571
Businesses Nearby
Explore this area
Business Placement
Demographics for 07002, NJ
71,686
Population
30,161
Households
2.4
Avg Household Size
38
Median Age
40%
College-Educated
91%
High-School Grad
5.8 sq mi
ZIP Area
12,360
Density / Sq Mi
$81,285
Median Household Income
$51,157
Median Earnings
$1,593
Median Rent
$446,100
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?
Apartment building - Solid brick mixed-use property with five residential units and a ground-floor storefront plus updated rooftop and utility separation.
Where is this apartment building located?
The property is located at 383 Avenue C Bayonne Bayonne, NJ.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: Mixed‑use solid brick building with 5 residential units plus a ground‑floor storefront; Unit mix includes two 3‑bedroom apartments and three 2‑bedroom apartments; Year built 1978; 5,235 SF total building area with a full basement and private backyard
