Mixed-Use Property with Commercial
For Sale
$579,900
528 Ridgeway Avenue, South Amboy, NJ 08879
Commercial Sale, South Amboy, NJ
Property Size2,137 SF
Lot Size0.15 Acres
Price / SF$271.36
Days on Market28
Property Features for 528 Ridgeway Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
RA
Bathrooms
2
Full bathrooms
1
Half bathrooms
2
Rooms
Bathroom 2, Bathroom 3, Bathroom 1
Parking
10
Parking features
On Street
Interior features
Appliances, Refrigeration, Lighting Fixtures
Appliances
Appliances, Refrigeration, Range/Oven, Refrigerator
Lot features
Residential Area
Directions
Route 9/35 to Laurel Street to Right on Ridgeway.
Standard status
Active
APN
2000149000000013
Size
2,137 SF
Lot size
0.15 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
7743
Utilities
Sewer type
Public Sewer
Heating system
Forced Air
Cooling system
Ceiling Fan(s), Central Air
Water source
Public
Amenities
outdoor deck
in-unit laundry
Building Details
Floors in Building
2
Number of units
1
Flooring type
Linoleum, Lighting fixtures
Building materials
Vinyl Siding
Roof type
Asphalt
Listing Agency:
ERA BONIAKOWSKI REAL ESTATE · ERA Real Estate
(732) 968-0700
Listed By:
Thomas Boniakowski · License #8331807
(732) 968-0700
Added: Jul 28
Changed: Aug 19
Last Checked: Aug 24 at 4:06PM
MLS# 2701638R
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 2,137-square-foot mixed-use building combines a restaurant component with a separate residential apartment. The commercial area includes a kitchen, refrigeration, multiple food-preparation areas, a bar area, exposed brick, rustic finishes, and access to an outdoor deck. The restaurant space is leased to a food truck company for food preparation and cooking before event operations. The upper apartment has its own entrance and includes two bedrooms, an updated kitchen, living area, modern bathroom, in-unit laundry, and abundant natural light.
The property sits on 0.1527 acres in South Amboy and is zoned RA. Public water and public sewer serve the building, with forced-air heat and central air. Parking is available on the street. The sale excludes a liquor license, and any future use remains subject to municipal approvals, zoning requirements, licensing, and certificates of occupancy.
The property sits on 0.1527 acres in South Amboy and is zoned RA. Public water and public sewer serve the building, with forced-air heat and central air. Parking is available on the street. The sale excludes a liquor license, and any future use remains subject to municipal approvals, zoning requirements, licensing, and certificates of occupancy.
Key Highlights
- 2,137‑square‑foot mixed‑use building on 0.1527 acres
- Commercial kitchen with refrigeration, range/oven, and refrigerator
- Restaurant area 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
Lease Details
1
Residential units
100%
Occupancy
Multi-tenant
Tenancy
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 - Restaurant operations and a separately accessed, tenant-occupied apartment create a dual-use configuration.
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‑square‑foot mixed‑use building on 0.1527 acres; Commercial kitchen with refrigeration, range/oven, and refrigerator; Restaurant area leased to a food truck company
