Brick Auto Shop
For Sale
$1,150,000
459 State Street, Perth Amboy, NJ 08861
COMMERCIAL - Perth Amboy, NJ
Property Size5,000 SF
Price / SF$230
Days on Market50
Property Features for 459 State Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
C-1
Parking
2
Directions
Gps
Standard status
Active
APN
160023000000000702
Size
5,000 SF
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
17617
Utilities
Sewer type
Public Sewer
Heating system
Forced Air, Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
1935
Floors in Building
1
Flooring type
Concrete, Tile
Building materials
Brick
Roof type
Flat
Listing Agency:
J.J. ELEK REALTY CO.
(732) 634-9100
Listed By:
Joseph Devizio · License #0568876
(732) 596-2118
Added: Jun 22
Changed: Aug 4
Last Checked: Aug 10 at 1:06AM
MLS# 2617987R
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 brick auto shop building includes an approximately 4,500 SF commercial building plus a 2-bay garage currently used as a mechanic shop. The property is zoned C-1 and features a flat roof with concrete and tile flooring. Heating is provided by forced air with central systems, and cooling is central air.
Public utilities include public water and public sewer.
The listing also references owner-approved architectural plans that would allow apartments to be built above the commercial space, subject to approvals and development requirements.
Public utilities include public water and public sewer.
The listing also references owner-approved architectural plans that would allow apartments to be built above the commercial space, subject to approvals and development requirements.
Key Highlights
- C‑1 zoning for broad commercial uses
- Approximately 4,500 SF commercial building plus 2‑bay garage
- Brick construction with flat roof
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
1,059
Businesses Nearby
15k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 84%
Electronics 12%
Shops & Services 4%
Dunkin' Donuts
Dining
8,729 visits/mo
0.1 miles
Papa John's Pizza
Dining
3,828 visits/mo
0.1 miles
Boost Mobile
Electronics
1,814 visits/mo
0.1 miles
The UPS Store
Shops & Services
630 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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- Way To Success — 156 2nd St, Perth Amboy, NJ 08861
- Ortiz Towing & Auto Repair — 143 2nd St, Perth Amboy, NJ 08861
Frequently Asked Questions
What type of property is this?
Auto shop - C-1 zoned brick auto shop building with a 2-bay garage and central heating and cooling.
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: C‑1 zoning for broad commercial uses; Approximately 4,500 SF commercial building plus 2‑bay garage; Brick construction with flat roof
