Mixed-Use Property with Approved
New
For Sale
$699,900
390 New Brunswick Avenue, Fords, NJ 08863
Commercial Sale, Fords, NJ
Property Size3,000 SF
Lot Size0.39 Acres
Price / SF$233.30
Days on Market2
Property Features for 390 New Brunswick Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
NBA-C
Parking
20
Parking features
Garage
Lot features
Commercial Area, Level
Standard status
Active
APN
25000160300001
Size
3,000 SF
Lot size
0.39 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
15775
Utilities
Sewer type
Public Sewer
Heating system
Forced Air, Baseboard, Hot Water(Heating)
Cooling system
Central Air
Water source
Public
Building Details
Year built
1915
Floors in Building
2
Flooring type
Tile - Ceramic, Laminate, Wood
Building materials
Metal Siding, Vinyl Siding
Roof type
Asphalt
Listing Agency:
LOVI REAL ESTATE LLC
(732) 902-6363
Listed By:
Aniyan George
(732) 612-2122
Added: Aug 31
Last Checked: Sep 1 at 1:06PM
MLS# 2770428M
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.
Investment Insights
Based on property information with market context.
Located at 390 New Brunswick Avenue in Fords, New Jersey, this mixed-use property includes an existing 3,000-square-foot building on a 0.3855-acre parcel. The structure dates to 1915 and features metal and vinyl siding, ceramic tile, laminate and wood flooring, central air, and multiple heating systems, including forced air, baseboard, and hot water heat.
Township approval is in place for an approximately 3,000-square-foot addition. An approved zoning variance supports a proposed redevelopment with 4 residential apartments, 3 retail spaces, office space, and 20 on-site parking spaces. The property is zoned NBA-C and is served by public water and public sewer, with garage parking and an asphalt roof.
Township approval is in place for an approximately 3,000-square-foot addition. An approved zoning variance supports a proposed redevelopment with 4 residential apartments, 3 retail spaces, office space, and 20 on-site parking spaces. The property is zoned NBA-C and is served by public water and public sewer, with garage parking and an asphalt roof.
Key Highlights
- Approved approximately 3,000‑square‑foot building addition
- Approved redevelopment includes 4 residential apartments, 3 retail spaces, and office space
- 20 on‑site parking spaces included in the approved plan
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
$46,134
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
6.59%
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%
$922,680
$922.7K
Cap Rate 7%
$659,057
$659.1K
Cap Rate 9%
$512,600
$512.6K
Market Conditions
NOI Build-Up for 3,000 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
$90.0K $30.00/SF
− Vacancy
−$6.1K −$2.04/SF
EGI
$83.9K $27.96/SF
− OpEx
−$37.7K −$12.58/SF
NOI
$46.1K $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 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%
$922,680
Cap Rate 7%
$659,057
Cap Rate 9%
$512,600
Alternative Uses
Best Use
Apartment 5plus
$659.1K
$576.7K – $768.9K
NOI $46,134 @ 7.0% cap · market cap 6.59%
Second Best
Office B
$655.7K
$573.8K – $765.0K
NOI $45,900 @ 7.0% cap · market cap 6.56%
Theoretical Best
Office A
$783.4K
$685.4K – $913.9K
NOI $54,835 @ 7.0% cap · market cap 7.83%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
733
Businesses Nearby
Explore this area
Business Placement
Demographics for 08863, NJ
12,939
Population
4,770
Households
2.7
Avg Household Size
40
Median Age
39%
College-Educated
91%
High-School Grad
1.7 sq mi
ZIP Area
7,611
Density / Sq Mi
$116,250
Median Household Income
$61,018
Median Earnings
$1,976
Median Rent
$414,100
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Approved plans support a combination of residential, retail, and office uses with on-site parking.
Where is this mixed-use property located?
The property is located at 390 New Brunswick Avenue Fords, 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: Approved approximately 3,000‑square‑foot building addition; Approved redevelopment includes 4 residential apartments, 3 retail spaces, and office space; 20 on‑site parking spaces included in the approved plan
