Mixed-Use Corner Lot
For Sale
$989,000
630 Florida Grove Rd, Perth Amboy, NJ 08861
Mixed-use property with commercial and residential income potential.
Property Size9,999 SF
Price / SF$98.91
Days on Market149
Property Features for 630 Florida Grove Rd
General Information
Standard status
Active
Size
9,999 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$13,816
Amenities
Central air
Asphalt Shingle Roof
2 Car Width
Baseboard - Electric Heating
Blacktop Driveway
Driveway-Exclusive
Flat Roof
Radiators - Steam Heating
Wall A/C Unit(s) Cooling
Building Details
Year Built
1950
Listing Agency:
VERIFIED HOMES
(973) 888-1293
Listed By:
NEKITA MARTINS
(973) 467-6767
Source:
Corcoran
Added: Apr 8
Changed: Sep 2
Last Checked: Sep 2 at 7:38PM
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 VERIFIED HOMES
Investment Insights
Based on property information with market context.
This mixed-use property is situated on a corner lot totaling 10,454 square feet. It features two separate buildings, offering both commercial and residential income potential. All utilities are separate. The front building includes a retail space, currently operating as a flower shop (Vollmann's Florist Greenhouses), complete with an attached greenhouse. This commercial unit will be delivered vacant. The first building also includes two studio apartments. The second building consists of two studio apartments and is complemented by a private driveway with parking for two vehicles. The expansive corner lot presents upside potential for future development, expansion, or reconfiguration. It is suitable for investors or owner operators seeking a versatile asset with multiple income streams.
Key Highlights
- Prime corner lot location with high visibility on 10,454 sq ft.
- Mixed‑use property with commercial and residential income potential from two separate buildings.
- Commercial unit (Vollmann's Florist Greenhouses) delivered vacant, offering immediate flexibility.
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
$86,517
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
8.75%
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%
$1,730,340
$1.7M
Cap Rate 7%
$1,235,957
$1.2M
Cap Rate 9%
$961,300
$961.3K
Market Conditions
NOI Build-Up for 9,999 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
$158.4K $15.84/SF
− Vacancy
−$20.0K −$2.00/SF
EGI
$138.4K $13.84/SF
− OpEx
−$51.9K −$5.19/SF
NOI
$86.5K $8.65/SF
Area
Middlesex County, NJ
Vacancy
12.60%
Lease Rate
$15.84 /SF/Yr
Expense Ratio
37.50%
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%
$1,730,340
Cap Rate 7%
$1,235,957
Cap Rate 9%
$961,300
Alternative Uses
Best Use
Retail
$2.04M
$1.78M – $2.38M
NOI $142,719 @ 7.0% cap · market cap 14.43%
Second Best
Mixed Use
$1.24M
$1.08M – $1.44M
NOI $86,517 @ 7.0% cap · market cap 8.75%
Theoretical Best
Office A
$2.61M
$2.28M – $3.05M
NOI $182,766 @ 7.0% cap · market cap 18.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
745
Businesses Nearby
129k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 44%
Shops & Services 33%
Groceries 23%
McDonald's
Dining
35,381 visits/mo
0.4 miles
Superfresh
Groceries
29,813 visits/mo
0.5 miles
Burger King
Dining
20,811 visits/mo
0.5 miles
Bank of America
Shops & Services
13,126 visits/mo
0.5 miles
Speedway
Shops & Services
8,778 visits/mo
0.4 miles
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 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 property with commercial and residential income potential.
Where is this mixed-use property located?
The property is located at 630 Florida Grove Rd Perth Amboy, NJ.
What is the asking price?
The asking price for this property is $989,000.
What are key features of this property?
This property features: Prime corner lot location with high visibility on 10,454 sq ft.; Mixed‑use property with commercial and residential income potential from two separate buildings.; Commercial unit (Vollmann's Florist Greenhouses) delivered vacant, offering immediate flexibility.
