Corner Retail-Residential
For Sale
$899,900
614-612 Livingston Ave, North Brunswick, NJ 08902
Three rented units include a storefront and two residential units, with a two-car garage and recently updated roof and exterior paint.
Property Size1,839 SF
Price / SF$489.34
Days on Market68
Property Features for 614-612 Livingston Ave
General Information
Standard status
Active
Size
1,839 SF
Total Parking Spaces
2
Occupancy
100%
Additional Details
Utilities to Site
Yes
Taxes and HOA fees
Annual Taxes
$9,383
Listing Agency:
RE/MAX INNOVATION
(732) 298-6006
Listed By:
JOSEPH A. MARASCIO
(732) 718-7156
Source:
Exprealty
Added: Jul 1
Changed: Aug 21
Last Checked: Sep 5 at 12:03PM
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 RE/MAX INNOVATION
Investment Insights
Based on property information with market context.
This three-unit property combines storefront space with two additional residential units. All three units are currently rented on month-to-month leases. The exterior has recently been painted and the roof is newer. Utilities are gas and electric, with public water and public sewer service, and the property includes a two-car garage.
The building is positioned on a corner with street presence in the business district. The public remarks note nearby transit options and that the property sits across from Bank of America.
Set on an oversized lot, the site may offer flexibility for future improvement, including potential for an addition subject to lending and approvals.
The building is positioned on a corner with street presence in the business district. The public remarks note nearby transit options and that the property sits across from Bank of America.
Set on an oversized lot, the site may offer flexibility for future improvement, including potential for an addition subject to lending and approvals.
Key Highlights
- 3‑unit property with a storefront plus 2 residential units; all 3 units are rented on month‑to‑month leases
- Corner location with street presence; storefront is right across from Bank of America
- Newer roof and exterior just painted
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
$30,778
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
3.42%
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%
$615,560
$615.6K
Cap Rate 7%
$439,686
$439.7K
Cap Rate 9%
$341,978
$342.0K
Market Conditions
NOI Build-Up for 1,839 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
$47.0K $25.56/SF
− Vacancy
−$3.0K −$1.65/SF
EGI
$44.0K $23.91/SF
− OpEx
−$13.2K −$7.17/SF
NOI
$30.8K $16.74/SF
Area
Middlesex County, NJ
Vacancy
6.46%
Lease Rate
$25.56 /SF/Yr
Expense Ratio
30.00%
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%
$615,560
Cap Rate 7%
$439,686
Cap Rate 9%
$341,978
Alternative Uses
Best Use
Multifamily LT 5
$439.7K
$384.7K – $513.0K
NOI $30,778 @ 7.0% cap · market cap 3.42%
Second Best
Apartment 5plus
$404.0K
$353.5K – $471.3K
NOI $28,280 @ 7.0% cap · market cap 3.14%
Theoretical Best
Office A
$480.2K
$420.2K – $560.2K
NOI $33,614 @ 7.0% cap · market cap 3.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
100%
Occupancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
900
Businesses Nearby
Explore this area
Business Placement
Demographics for 08902, NJ
43,296
Population
15,892
Households
2.7
Avg Household Size
38
Median Age
45%
College-Educated
87%
High-School Grad
13.2 sq mi
ZIP Area
3,280
Density / Sq Mi
$117,671
Median Household Income
$57,880
Median Earnings
$2,055
Median Rent
$402,400
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?
Triplex - Three rented units include a storefront and two residential units, with a two-car garage and recently updated roof and exterior paint.
Where is this triplex located?
The property is located at 614-612 Livingston Ave North Brunswick, NJ.
What is the asking price?
The asking price for this property is $899,900.
What are key features of this property?
This property features: 3‑unit property with a storefront plus 2 residential units; all 3 units are rented on month‑to‑month leases; Corner location with street presence; storefront is right across from Bank of America; Newer roof and exterior just painted
