Mixed-Use Property with Income
For Sale
$299,900
48 W Lafayette St, Trenton, NJ 08608
Mixed-use property featuring a salon and a residential unit.
Property Size800 SF
Price / SF$374.88
Days on Market133
Property Features for 48 W Lafayette St
General Information
Standard status
Active
Size
800 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$5,206
Amenities
Business District
Building Details
Year Built
1862
Listing Agency:
JOSEPH R RIDOLFI & ASSOCIATES LLC
(609) 581-4848
Listed By:
JOSEPH R RIDOLFI · License #7819144
Source:
Corcoran
Added: Mar 30
Changed: Aug 8
Last Checked: Aug 8 at 6:54AM
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 JOSEPH R RIDOLFI & ASSOCIATES LLC
Investment Insights
Based on property information with market context.
This mixed-use property offers two income-generating units. The first floor comprises an approximately 800-square-foot beauty salon, fully equipped with a reception desk, hair dryers, shampoo stations, and massage/waxing tables, as well as a bathroom. The second floor features a six-room apartment, which includes a bedroom, bathroom, family room, dining room, kitchen, and loft, and is currently leased. The basement is equipped with a washer and dryer, along with a newer furnace and hot water heater. This property presents an opportunity to occupy one unit and rent out the other.
Key Highlights
- Two income‑generating units offer rental income potential.
- First‑floor beauty salon is fully equipped, including reception desk, hair dryers, shampoo stations, and massage/waxing tables.
- Second‑floor apartment features 6 rooms and is currently leased.
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
$12,210
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
4.07%
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%
$244,200
$244.2K
Cap Rate 7%
$174,429
$174.4K
Cap Rate 9%
$135,667
$135.7K
Market Conditions
NOI Build-Up for 800 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
$24.0K $30.00/SF
− Vacancy
−$1.8K −$2.25/SF
EGI
$22.2K $27.75/SF
− OpEx
−$10.0K −$12.49/SF
NOI
$12.2K $15.26/SF
Area
Mercer County, NJ
Vacancy
7.50%
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%
$244,200
Cap Rate 7%
$174,429
Cap Rate 9%
$135,667
Alternative Uses
Best Use
Apartment 5plus
$174.4K
$152.6K – $203.5K
NOI $12,210 @ 7.0% cap · market cap 4.07%
Second Best
Retail
$170.9K
$149.5K – $199.4K
NOI $11,963 @ 7.0% cap · market cap 3.99%
Theoretical Best
Warehouse
$257.4K
$225.2K – $300.3K
NOI $18,017 @ 7.0% cap · market cap 6.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,257
Businesses Nearby
2k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
U-Haul
Shops & Services
2,283 visits/mo
0.4 miles
Demographics for 08608, NJ
1,269
Population
645
Households
2
Avg Household Size
41
Median Age
25%
College-Educated
77%
High-School Grad
0.3 sq mi
ZIP Area
4,230
Density / Sq Mi
$48,232
Median Earnings
$1,009
Median Rent
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Mixed-use property featuring a salon and a residential unit.
Where is this mixed-use property located?
The property is located at 48 W Lafayette St Trenton, NJ.
What is the asking price?
The asking price for this property is $299,900.
What are key features of this property?
This property features: Two income‑generating units offer rental income potential.; First‑floor beauty salon is fully equipped, including reception desk, hair dryers, shampoo stations, and massage/waxing tables.; Second‑floor apartment features 6 rooms and is currently leased.
