Mixed-Use Property with
For Sale
$579,900
528 Ridgeway Avenue, South Amboy, NJ 08879
Mixed-use building combining a leased restaurant workspace with a separately accessed, tenant-occupied apartment.
Property Size2,137 SF
Price / SF$271.36
Days on Market39
Property Features for 528 Ridgeway Avenue
General Information
Standard status
Active
Size
2,137 SF
Property subtype
Commercial
Listing Agency:
ERA BONIAKOWSKI REAL ESTATE
(732) 968-0700
Listed By:
THOMAS BONIAKOWSKI · License #212020
(833) 740-1234
Source:
Actionplusrealty
Added: Jul 23
Changed: Aug 29
Last Checked: Aug 2 at 4:18AM
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 ERA BONIAKOWSKI REAL ESTATE
Investment Insights
Based on property information with market context.
This 2,137-square-foot mixed-use property in South Amboy combines a commercial food-preparation space with an upstairs residential apartment. The commercial area includes a kitchen, bar area, exposed brick, rustic finishes, several service and preparation zones, and access to an outdoor deck. It is currently leased to a food truck company for cooking and preparation operations.
The separately entered apartment is tenant-occupied and includes an updated kitchen, living area, two bedrooms, a modern bathroom, in-unit laundry, and abundant natural light. The property offers both commercial and residential components within one building. It is being sold without a liquor license, and future uses remain subject to applicable municipal approvals, zoning requirements, licensing, and certificates of occupancy.
The separately entered apartment is tenant-occupied and includes an updated kitchen, living area, two bedrooms, a modern bathroom, in-unit laundry, and abundant natural light. The property offers both commercial and residential components within one building. It is being sold without a liquor license, and future uses remain subject to applicable municipal approvals, zoning requirements, licensing, and certificates of occupancy.
Key Highlights
- 2,137 SF mixed‑use property in South Amboy
- Commercial kitchen with bar area and multiple food‑preparation zones
- Commercial space currently leased to a food truck company
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
$32,863
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
5.67%
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%
$657,260
$657.3K
Cap Rate 7%
$469,471
$469.5K
Cap Rate 9%
$365,144
$365.1K
Market Conditions
NOI Build-Up for 2,137 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
$64.1K $30.00/SF
− Vacancy
−$4.4K −$2.04/SF
EGI
$59.8K $27.96/SF
− OpEx
−$26.9K −$12.58/SF
NOI
$32.9K $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 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%
$657,260
Cap Rate 7%
$469,471
Cap Rate 9%
$365,144
Alternative Uses
Best Use
Apartment 5plus
$469.5K
$410.8K – $547.7K
NOI $32,863 @ 7.0% cap · market cap 5.67%
Second Best
Specialty Retail
$466.9K
$408.5K – $544.7K
NOI $32,681 @ 7.0% cap · market cap 5.64%
Theoretical Best
Office A
$558.0K
$488.3K – $651.0K
NOI $39,061 @ 7.0% cap · market cap 6.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
383
Businesses Nearby
Explore this area
Business Placement
Demographics for 08879, NJ
22,965
Population
9,737
Households
2.4
Avg Household Size
42
Median Age
32%
College-Educated
89%
High-School Grad
7.1 sq mi
ZIP Area
3,235
Density / Sq Mi
$98,000
Median Household Income
$57,998
Median Earnings
$1,633
Median Rent
$377,700
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?
Mixed-use property - Mixed-use building combining a leased restaurant workspace with a separately accessed, tenant-occupied apartment.
Where is this mixed-use property located?
The property is located at 528 Ridgeway Avenue South Amboy, NJ.
What is the asking price?
The asking price for this property is $579,900.
What are key features of this property?
This property features: 2,137 SF mixed‑use property in South Amboy; Commercial kitchen with bar area and multiple food‑preparation zones; Commercial space currently leased to a food truck company
