Corner Commercial Building with Dual
For Sale
$675,000
591 New Brunswick Avenue Perth Amboy, Perth Amboy, NJ 08861
Fully occupied corner building leased to a food service business and a warehouse-style operator with convenient on-street parking.
Property Size2,600 SF
Price / SF$259.62
Days on Market40
Property Features for 591 New Brunswick Avenue Perth Amboy
General Information
Standard status
Active
Size
2,600 SF
Zoning
C-1
Occupancy
100%
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$9,390
Amenities
See Remarks
true
1
Near Public Transit,Near Shopping,Near Train,Residential Area
Public
0.0574
100.00 x 0.00
On Street
2600
Building Details
Building Size
2,600 SF
Year Built
1925
Stories
1
Tenancy
Multi
Listing Agency:
(732) 991-3166
Listed By:
Steven Bonavita · License #1429895
(732) 991-3166
Source:
Sbonavita.remax
Added: Jul 8
Changed: Aug 11
Last Checked: Aug 11 at 2:30PM
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 Steven Bonavita
Investment Insights
Based on property information with market context.
This fully occupied corner commercial building is leased to two established businesses that together occupy the entire property. One tenant operates a food service establishment, while the other uses the space for warehouse-style operations, creating a versatile setup under a single ownership.
The property is located at 591 New Brunswick Avenue in an active business corridor, providing prominent visibility among surrounding commercial uses. Convenient on-street parking supports customer access, and the area offers quick regional connections to Route 440 and the New Jersey Turnpike, Garden State Parkway, Route 287, and Route 35. The Perth Amboy train station and the revitalized downtown area are also described as being minutes away, along with the waterfront and local hospital.
For investors seeking immediate rental income, the building is positioned for straightforward leasing with two in-place tenants covering the full structure.
The property is located at 591 New Brunswick Avenue in an active business corridor, providing prominent visibility among surrounding commercial uses. Convenient on-street parking supports customer access, and the area offers quick regional connections to Route 440 and the New Jersey Turnpike, Garden State Parkway, Route 287, and Route 35. The Perth Amboy train station and the revitalized downtown area are also described as being minutes away, along with the waterfront and local hospital.
For investors seeking immediate rental income, the building is positioned for straightforward leasing with two in-place tenants covering the full structure.
Key Highlights
- Corner commercial building at 591 New Brunswick Ave, Perth Amboy, fully occupied and leased to two established businesses.
- Tenant mix: one food service establishment plus one warehouse‑style operator occupying the full building.
- 1‑story building with 2,600 total building area; built in 1925.
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
$39,761
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
5.89%
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%
$795,220
$795.2K
Cap Rate 7%
$568,014
$568.0K
Cap Rate 9%
$441,789
$441.8K
Market Conditions
NOI Build-Up for 2,600 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
$56.2K $21.60/SF
− Vacancy
−$3.1K −$1.21/SF
EGI
$53.0K $20.39/SF
− OpEx
−$13.3K −$5.10/SF
NOI
$39.8K $15.29/SF
Area
Middlesex County, NJ
Vacancy
5.60%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
25.00%
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%
$795,220
Cap Rate 7%
$568,014
Cap Rate 9%
$441,789
Alternative Uses
Best Use
Specialty Retail
$568.0K
$497.0K – $662.7K
NOI $39,761 @ 7.0% cap · market cap 5.89%
Second Best
Warehouse
$506.2K
$443.0K – $590.6K
NOI $35,437 @ 7.0% cap · market cap 5.25%
Theoretical Best
Office A
$678.9K
$594.1K – $792.1K
NOI $47,524 @ 7.0% cap · market cap 7.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
2,226
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 08861, NJ
58,039
Population
21,032
Households
2.8
Avg Household Size
35
Median Age
16%
College-Educated
70%
High-School Grad
5.1 sq mi
ZIP Area
11,380
Density / Sq Mi
$60,464
Median Household Income
$34,093
Median Earnings
$1,623
Median Rent
$340,900
Median Home Value
Market
Vacancy Rate% for Industrial in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Fully occupied corner building leased to a food service business and a warehouse-style operator with convenient on-street parking.
Where is this conventional restaurant located?
The property is located at 591 New Brunswick Avenue Perth Amboy Perth Amboy, NJ.
What is the asking price?
The asking price for this property is $675,000.
What are key features of this property?
This property features: Corner commercial building at 591 New Brunswick Ave, Perth Amboy, fully occupied and leased to two established businesses.; Tenant mix: one food service establishment plus one warehouse‑style operator occupying the full building.; 1‑story building with 2,600 total building area; built in 1925.
