Metro526 Apartment
For Sale
$19,250,000
526 North Ave, Dunellen, NJ 08812
Multifamily asset offered for sale with a stated 5.76% cap rate.
Property Size38,962 SF
Days on Market156
Property Features for 526 North Ave
General Information
Standard status
Active
Size
38,962 SF
Property subtype
Multifamily
Occupancy
100%
Additional Details
Cap Rate
5.76%
Amenities
NJ Transit Access to NYC
Strong Tenant Demand Drivers
Limited Comparable Inventory
Building Details
Building Size
38,962 SF
Units
40
Listing Agency:
Marcus & Millichap - New Jersey
Listed By:
Alan Cafiero · License #License(s): NJ: 0791092
(201) 742-6118
Source:
Marcusmillichap
Added: May 14
Changed: Oct 7
Last Checked: Oct 14 at 7:43PM
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 Marcus & Millichap - New Jersey
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Metro526 Apartments is an apartment building at 526 North Ave in Dunellen, New Jersey. The property is identified as a multifamily asset and is offered for sale.
The stated cap rate is 5.76%. The address is in Middlesex County and carries the ZIP code 08812.
The stated cap rate is 5.76%. The address is in Middlesex County and carries the ZIP code 08812.
Key Highlights
- Apartment building at 526 North Ave, Dunellen, NJ 08812
- 5.76% stated cap rate
- Multifamily property offered for sale
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$599,158
Cap Rate
3.11%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$11,983,160
$12.0M
Cap Rate 7%
$8,559,400
$8.6M
Cap Rate 9%
$6,657,311
$6.7M
Market Conditions
NOI Build-Up for 38,962 SF
Gross rent
$1.17M $30.00/SF
− Vacancy
−$79.5K −$2.04/SF
EGI
$1.09M $27.96/SF
− OpEx
−$490.2K −$12.58/SF
NOI
$599.2K $15.38/SF
Area
Middlesex County, NJ
Vacancy
6.80%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$11,983,160
Cap Rate 7%
$8,559,400
Cap Rate 9%
$6,657,311
Alternative Uses
Best Use
Apartment 5plus
$8.56M
$7.49M – $9.99M
NOI $599,158 @ 7.0% cap · market cap 3.11%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$10.17M
$8.90M – $11.87M
NOI $712,163 @ 7.0% cap · market cap 3.70%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
751
Businesses Nearby
Explore this area
Business Placement
Demographics for 08812, NJ
14,593
Population
4,916
Households
3
Avg Household Size
40
Median Age
42%
College-Educated
88%
High-School Grad
5.1 sq mi
ZIP Area
2,861
Density / Sq Mi
$119,534
Median Household Income
$50,266
Median Earnings
$1,557
Median Rent
$435,300
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Apartment building - Multifamily asset offered for sale with a stated 5.76% cap rate.
Where is this apartment building located?
The property is located at 526 North Ave Dunellen, NJ.
What is the asking price?
The asking price for this property is $19,250,000.
What are key features of this property?
This property features: Apartment building at 526 North Ave, Dunellen, NJ 08812; 5.76% stated cap rate; Multifamily property offered for sale
