5-Unit Mixed-Use
For Sale
$629,000
685-691 S CLINTON AVE, Trenton, NJ 08611
Five-unit mixed-use building with four residences and one restaurant/corner store space, professionally managed and income producing.
Property Size3,468 SF
Price / SF$181.37
Days on Market51
Property Features for 685-691 S CLINTON AVE
General Information
Standard status
Active
Size
3,468 SF
Property subtype
Multi-family
Additional Details
Multifamily Units
4
Listing Agency:
BHHS Fox & Roach - Robbinsville
(609) 890-3300
Listed By:
Anthony McAnany
(609) 954-8669
Source:
Lakehomesbyliz
Added: Jul 25
Changed: Sep 8
Last Checked: Sep 12 at 7:12AM
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 BHHS Fox & Roach - Robbinsville
Investment Insights
Based on property information with market context.
This 5-unit mixed-use property includes four residential units and one restaurant/corner store. The residential mix consists of two 2-bedroom units, one 1-bedroom unit, and one studio. The apartment unit labeled as apartment 3 has been newly updated with a new kitchen, supporting a refreshed residential offering within the building.
The property is located at 685-691 S Clinton Avenue and 125 Dye St in Trenton, NJ. The public remarks also note an income-producing billboard and that the building is clean and professionally managed, with current City registration and a Certificate of Occupancy.
Showings are by appointment only and subject to pre-set tenant showing schedules, with buyer purchase verification required. Interior photos are available with proof of funds and buyer verification for tenant security.
The property is located at 685-691 S Clinton Avenue and 125 Dye St in Trenton, NJ. The public remarks also note an income-producing billboard and that the building is clean and professionally managed, with current City registration and a Certificate of Occupancy.
Showings are by appointment only and subject to pre-set tenant showing schedules, with buyer purchase verification required. Interior photos are available with proof of funds and buyer verification for tenant security.
Key Highlights
- 5‑unit mixed‑use building built in 1950 with four residential units plus one restaurant/corner store space
- Residential mix includes two 2‑bedroom units, one 1‑bedroom unit, and one studio
- Newly updated apartment 3 with a new kitchen
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
$55,565
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
8.83%
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%
$1,111,300
$1.1M
Cap Rate 7%
$793,786
$793.8K
Cap Rate 9%
$617,389
$617.4K
Market Conditions
NOI Build-Up for 3,468 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
$77.8K $22.44/SF
− Vacancy
−$3.7K −$1.08/SF
EGI
$74.1K $21.36/SF
− OpEx
−$18.5K −$5.34/SF
NOI
$55.6K $16.02/SF
Area
Mercer County, NJ
Vacancy
4.80%
Lease Rate
$22.44 /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%
$1,111,300
Cap Rate 7%
$793,786
Cap Rate 9%
$617,389
Alternative Uses
Best Use
Specialty Retail
$793.8K
$694.6K – $926.1K
NOI $55,565 @ 7.0% cap · market cap 8.83%
Second Best
Apartment 5plus
$756.1K
$661.6K – $882.2K
NOI $52,930 @ 7.0% cap · market cap 8.41%
Theoretical Best
Warehouse
$1.12M
$976.3K – $1.30M
NOI $78,105 @ 7.0% cap · market cap 12.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
1,180
Businesses Nearby
Explore this area
Business Placement
Demographics for 08611, NJ
31,531
Population
11,638
Households
2.7
Avg Household Size
32
Median Age
16%
College-Educated
70%
High-School Grad
2.9 sq mi
ZIP Area
10,873
Density / Sq Mi
$50,806
Median Household Income
$29,185
Median Earnings
$1,300
Median Rent
$142,400
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Five-unit mixed-use building with four residences and one restaurant/corner store space, professionally managed and income producing.
Where is this mixed-use property located?
The property is located at 685-691 S CLINTON AVE Trenton, NJ.
What is the asking price?
The asking price for this property is $629,000.
What are key features of this property?
This property features: 5‑unit mixed‑use building built in 1950 with four residential units plus one restaurant/corner store space; Residential mix includes two 2‑bedroom units, one 1‑bedroom unit, and one studio; Newly updated apartment 3 with a new kitchen
