Commercial Building with Two-Bay
For Sale
$1,150,000
459 State Street, Perth Amboy, NJ 08861
Zoned C-1 commercial building includes a two-bay garage currently operating as a mechanic shop.
Property Size5,000 SF
Price / SF$230
Days on Market94
Property Features for 459 State Street
General Information
Standard status
Active
Size
5,000 SF
Property subtype
Commercial
Zoning
c-1
Additional Details
Service Bays
2
Building Details
Year Built
1935
Listing Agency:
J.J. ELEK REALTY CO.
(732) 634-9100
Listed By:
JOSEPH DEVIZIO · License #0568876
(833) 740-1234
Source:
Actionplusrealty
Added: May 24
Changed: Aug 23
Last Checked: Aug 24 at 6:32AM
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 J.J. ELEK REALTY CO.
Investment Insights
Based on property information with market context.
This for-sale commercial property features a commercial building along with a two-bay garage currently being used as a mechanic shop. The site is zoned C-1 and offers flexibility for a variety of commercial uses.
The property is located at 459 State St in Perth Amboy, New Jersey. The owner has approved architectural plans that would allow apartments to be built above the commercial space, providing additional development potential.
With its combined commercial building and garage configuration, the property can support storefront or service-oriented operations within the existing layout while aligning with the C-1 zoning framework.
The property is located at 459 State St in Perth Amboy, New Jersey. The owner has approved architectural plans that would allow apartments to be built above the commercial space, providing additional development potential.
With its combined commercial building and garage configuration, the property can support storefront or service-oriented operations within the existing layout while aligning with the C-1 zoning framework.
Key Highlights
- Approximately 4,500 SF C‑1 commercial building in Perth Amboy
- Zoned C‑1; suitable for a range of uses including restaurant, medical facility, lounge, bank, pharmacy, and retail
- Includes a 2‑bay garage currently operating as a mechanic shop
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
$71,366
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
6.21%
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%
$1,427,320
$1.4M
Cap Rate 7%
$1,019,514
$1.0M
Cap Rate 9%
$792,956
$793.0K
Market Conditions
NOI Build-Up for 5,000 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
$108.0K $21.60/SF
− Vacancy
−$6.0K −$1.21/SF
EGI
$102.0K $20.39/SF
− OpEx
−$30.6K −$6.12/SF
NOI
$71.4K $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%
$1,427,320
Cap Rate 7%
$1,019,514
Cap Rate 9%
$792,956
Alternative Uses
Best Use
Retail
$1.02M
$892.1K – $1.19M
NOI $71,366 @ 7.0% cap · market cap 6.21%
Second Best
Industrial
$801.7K
$701.5K – $935.4K
NOI $56,121 @ 7.0% cap · market cap 4.88%
Theoretical Best
Office A
$1.31M
$1.14M – $1.52M
NOI $91,392 @ 7.0% cap · market cap 7.95%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Service bays
Location Intelligence
Trade Area within ½ mile
2,173
Businesses Nearby
74k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 62%
Dining 24%
Electronics 9%
Apparel 4%
PNC Bank
Shops & Services
13,747 visits/mo
0.5 miles
Chase Bank
Shops & Services
12,006 visits/mo
0.4 miles
Dunkin' Donuts
Dining
8,729 visits/mo
0.4 miles
Dollar General
Shops & Services
6,535 visits/mo
0.3 miles
Bank of America
Shops & Services
5,226 visits/mo
0.5 miles
Demographics for 08861, NJ
58,039
Population
21,032
Households
2.8
Avg Household Size
35
Median Age
16%
College-Educated
70%
High-School Grad
5.1 sq mi
ZIP Area
11,380
Density / Sq Mi
$60,464
Median Household Income
$34,093
Median Earnings
$1,623
Median Rent
$340,900
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?
Auto shop - Zoned C-1 commercial building includes a two-bay garage currently operating as a mechanic shop.
Where is this auto shop located?
The property is located at 459 State Street Perth Amboy, NJ.
What is the asking price?
The asking price for this property is $1,150,000.
What are key features of this property?
This property features: Approximately 4,500 SF C‑1 commercial building in Perth Amboy; Zoned C‑1; suitable for a range of uses including restaurant, medical facility, lounge, bank, pharmacy, and retail; Includes a 2‑bay garage currently operating as a mechanic shop
