Fully Leased 3-Storefront
For Sale
$1,500,000
396 Main Street, Metuchen, NJ 08840
COMMERCIAL - Metuchen, NJ
Property Size4,224 SF
Lot Size0.06 Acres
Price / SF$355.11
Days on Market1296
Property Features for 396 Main Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
B1
Parking features
On Street, Garage
Lot features
Business District, Corner Lot, Near Public Transit, Near Train
Directions
Main St To Pennsylvania Ave.
Standard status
Active
APN
09001210000000051
Size
4,224 SF
Lot size
0.06 Acres
Taxes and HOA fees
Tax Year
2019
Tax Annual Amount
24628
Utilities
Sewer type
Public Sewer
Water source
Public
Building Details
Floors in Building
2
Flooring type
Laminate, Linoleum, Radiant
Building materials
Brick
Roof type
Flat
Listing Agency:
KELLER WILLIAMS ELITE REALTORS · Keller Williams Realty
(732) 549-1998
Listed By:
Cynthia Kilker · License #1542275
(732) 549-1998
Added: Jan 25, 2023
Changed: Aug 4
Last Checked: Aug 13 at 8:06AM
MLS# 2350725M
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.
This mixed-use storefront property is fully leased with three retail stores and two residential rentals. The building construction is brick with a flat roof, and interior finishes include linoleum, radiant, and laminate flooring. The property sits on a 0.0551-acre lot with a total property size of 4,224 square feet.
Located at 396 Main Street in Metuchen, NJ 08840, the site is positioned beside the train station, with foot traffic and surrounding business activity referenced as part of the location.
Public utilities are in place with public water and public sewer service. Parking is supported by a combination of a garage and on-street parking.
Zoned B1, the property is being marketed for sale on a transaction type of for sale. A proof of funds is required before showings, and buyers are instructed to complete due diligence.
Located at 396 Main Street in Metuchen, NJ 08840, the site is positioned beside the train station, with foot traffic and surrounding business activity referenced as part of the location.
Public utilities are in place with public water and public sewer service. Parking is supported by a combination of a garage and on-street parking.
Zoned B1, the property is being marketed for sale on a transaction type of for sale. A proof of funds is required before showings, and buyers are instructed to complete due diligence.
Key Highlights
- Fully leased with three retail stores and two residential rentals
- Zoned B1 storefront/mixed‑use property at 396 Main Street, Metuchen, NJ 08840
- 4,224 SF mixed‑use building on a 0.0551‑acre lot
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
$70,694
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
4.71%
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%
$1,413,880
$1.4M
Cap Rate 7%
$1,009,914
$1.0M
Cap Rate 9%
$785,489
$785.5K
Market Conditions
NOI Build-Up for 4,224 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
$108.0K $25.56/SF
− Vacancy
−$7.0K −$1.65/SF
EGI
$101.0K $23.91/SF
− OpEx
−$30.3K −$7.17/SF
NOI
$70.7K $16.74/SF
Area
Middlesex County, NJ
Vacancy
6.46%
Lease Rate
$25.56 /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%
$1,413,880
Cap Rate 7%
$1,009,914
Cap Rate 9%
$785,489
Alternative Uses
Best Use
Multifamily LT 5
$1.01M
$883.7K – $1.18M
NOI $70,694 @ 7.0% cap · market cap 4.71%
Second Best
Apartment 5plus
$928.0K
$812.0K – $1.08M
NOI $64,957 @ 7.0% cap · market cap 4.33%
Theoretical Best
Office A
$1.10M
$965.1K – $1.29M
NOI $77,208 @ 7.0% cap · market cap 5.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,725
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 08840, NJ
17,841
Population
6,552
Households
2.7
Avg Household Size
42
Median Age
62%
College-Educated
95%
High-School Grad
3.2 sq mi
ZIP Area
5,575
Density / Sq Mi
$150,938
Median Household Income
$72,765
Median Earnings
$1,994
Median Rent
$517,700
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?
Storefront property - Zoned B1 and fully leased with three retail stores plus two residential rentals on a compact mixed-use site.
Where is this storefront property located?
The property is located at 396 Main Street Metuchen, 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: Fully leased with three retail stores and two residential rentals; Zoned B1 storefront/mixed‑use property at 396 Main Street, Metuchen, NJ 08840; 4,224 SF mixed‑use building on a 0.0551‑acre lot
