Mixed-Use Property with Approved
New
For Sale
$699,900
390 New Brunswick Avenue, Fords, NJ 08863
Approved redevelopment includes apartments, retail spaces, office area, and on-site parking within a mixed-use configuration.
Property Size3,000 SF
Price / SF$233.30
Days on Market5
Property Features for 390 New Brunswick Avenue
General Information
Standard status
Active
Size
3,000 SF
Property subtype
Commercial
Building Details
Year Built
1915
Listing Agency:
LOVI REAL ESTATE LLC
Listed By:
ANIYAN K. GEORGE
(732) 906-2300
Source:
Actionplusrealty
Added: Aug 31
Changed: Sep 3
Last Checked: Sep 1 at 6:06PM
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 LOVI REAL ESTATE LLC
Investment Insights
Based on property information with market context.
Built in 1915, the existing building contains approximately 3,000 square feet. Township approval is in place for an approximately 3,000-square-foot addition, expanding the property’s physical footprint.
An approved zoning variance supports a redevelopment plan with 4 residential apartments, 3 retail spaces, and office space. The plan also includes 20 on-site parking spaces. The property is located at 390 New Brunswick Avenue in Fords, New Jersey.
An approved zoning variance supports a redevelopment plan with 4 residential apartments, 3 retail spaces, and office space. The plan also includes 20 on-site parking spaces. The property is located at 390 New Brunswick Avenue in Fords, New Jersey.
Key Highlights
- Approximately 3,000 sq. ft. existing building
- Township‑approved approximately 3,000 sq. ft. addition
- Approved zoning variance for proposed redevelopment
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
$42,820
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
6.12%
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%
$856,400
$856.4K
Cap Rate 7%
$611,714
$611.7K
Cap Rate 9%
$475,778
$475.8K
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
$64.8K $21.60/SF
− Vacancy
−$3.6K −$1.21/SF
EGI
$61.2K $20.39/SF
− OpEx
−$18.4K −$6.12/SF
NOI
$42.8K $14.27/SF
Area
Middlesex County, NJ
Vacancy
5.60%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
30.00%
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%
$856,400
Cap Rate 7%
$611,714
Cap Rate 9%
$475,778
Alternative Uses
Best Use
Retail
$611.7K
$535.3K – $713.7K
NOI $42,820 @ 7.0% cap · market cap 6.12%
Second Best
Mixed Use
$370.8K
$324.5K – $432.6K
NOI $25,958 @ 7.0% cap · market cap 3.71%
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
35k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 73%
Dining 27%
Dunkin' Donuts
Dining
9,546 visits/mo
0.4 miles
QuickChek
Shops & Services
8,406 visits/mo
0.2 miles
7-Eleven
Shops & Services
7,366 visits/mo
0.5 miles
PNC Bank
Shops & Services
6,385 visits/mo
0.2 miles
Phillips 66
Shops & Services
2,751 visits/mo
0.3 miles
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 Retail 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?
Mixed-use property - Approved redevelopment includes apartments, retail spaces, office area, and on-site parking within a mixed-use configuration.
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: Approximately 3,000 sq. ft. existing building; Township‑approved approximately 3,000 sq. ft. addition; Approved zoning variance for proposed redevelopment
