5-Unit Apartment Building with Dentist
For Sale
$1,100,000
549 Main Street, Spotswood, NJ 08884
MULTI_FAMILY - Spotswood, NJ
Property Size3,147 SF
Lot Size1.26 Acres
Price / SF$349.54
Days on Market316
Property Features for 549 Main Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
GC
Parking
10
Parking features
Offsite
Lot features
Near Public Transit, Near Shopping
Standard status
Active
APN
2400014000000001
Size
3,147 SF
Lot size
1.26 Acres
Taxes and HOA fees
Tax Year
2023
Tax Annual Amount
14324
Utilities
Sewer type
Public Sewer
Heating system
Hot Water(Heating), Baseboard
Cooling system
Window Unit(s)
Water source
Public
Building Details
Year built
1920
Floors in Building
2
Flooring type
Tile - Ceramic, Carpet
Building materials
Vinyl Siding
Roof type
Asphalt
Listing Agency:
MID-STATE REALTY
(732) 251-8900
Listed By:
Denise Neftelberg
(732) 251-8900
Added: Oct 6, 2025
Changed: Aug 1
Last Checked: Aug 17 at 1:06AM
MLS# 2605564R
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 apartment building features a dentist office on the first floor and four rental units, with the property described as having five units and the possibility of a sixth. Shared offsite parking is noted with a nearby library. The listing notes annual income does not include rent from a vacant 1BR and garage space that are currently available.
Located at 549 Main Street in Spotswood, New Jersey, the property sits on a 1.2567-acre lot and totals 3,147 square feet. The building was constructed in 1920 with vinyl siding and an asphalt roof.
Utilities include public water and public sewer. Interior finishes include carpet and ceramic tile, with hot water baseboard heat and window unit cooling.
Located at 549 Main Street in Spotswood, New Jersey, the property sits on a 1.2567-acre lot and totals 3,147 square feet. The building was constructed in 1920 with vinyl siding and an asphalt roof.
Utilities include public water and public sewer. Interior finishes include carpet and ceramic tile, with hot water baseboard heat and window unit cooling.
Key Highlights
- GC zoning
- Dentist office on the first floor plus four rental units; five units with possibility for a sixth
- Shared offsite parking with the library
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
$48,395
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
4.40%
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%
$967,900
$967.9K
Cap Rate 7%
$691,357
$691.4K
Cap Rate 9%
$537,722
$537.7K
Market Conditions
NOI Build-Up for 3,147 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
$94.4K $30.00/SF
− Vacancy
−$6.4K −$2.04/SF
EGI
$88.0K $27.96/SF
− OpEx
−$39.6K −$12.58/SF
NOI
$48.4K $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%
$967,900
Cap Rate 7%
$691,357
Cap Rate 9%
$537,722
Alternative Uses
Best Use
Apartment 5plus
$691.4K
$604.9K – $806.6K
NOI $48,395 @ 7.0% cap · market cap 4.40%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$821.7K
$719.0K – $958.7K
NOI $57,522 @ 7.0% cap · market cap 5.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Office units
4
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
385
Businesses Nearby
Explore this area
Business Placement
Demographics for 08884, NJ
8,185
Population
3,318
Households
2.5
Avg Household Size
45
Median Age
34%
College-Educated
91%
High-School Grad
2.3 sq mi
ZIP Area
3,559
Density / Sq Mi
$101,125
Median Household Income
$57,834
Median Earnings
$1,097
Median Rent
$358,100
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Apartment building in GC zoning with a dentist office on the first floor and multiple rental units.
Where is this apartment building located?
The property is located at 549 Main Street Spotswood, NJ.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: GC zoning; Dentist office on the first floor plus four rental units; five units with possibility for a sixth; Shared offsite parking with the library
