Mixed-Use Property with Four
For Sale
$629,000
685 685-691 S Clinton Ave, Trenton, NJ 08611
Four residential units accompany a restaurant and corner-store component in a professionally managed, income-producing property.
Property Size3,468 SF
Price / SF$181.37
Days on Market15
Property Features for 685 685-691 S Clinton Ave
General Information
Standard status
Active
Size
3,468 SF
Property subtype
Multi-Family
Building Details
Year Built
1950
Tenancy
Multi
Listing Agency:
BHHS Fox & Roach - Robbinsville
(609) 954-8669
Listed By:
Anthony McAnany · License #1752745
Source:
Soldbypattie
Added: Aug 17
Changed: Aug 29
Last Checked: Aug 30 at 7:54PM
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 mixed-use property combines four residential units with a restaurant and corner-store component. The residential mix includes two two-bedroom apartments, one one-bedroom apartment, and one studio. Apartment 3 has been updated with a new kitchen. The property was built in 1950 and includes an income-producing billboard, along with current city registration and a certificate of occupancy.
The property spans 685-691 S Clinton and 125 Dye St in Trenton, New Jersey. Professional management is in place, and showings are scheduled by appointment around tenant availability. Interior access requires buyer verification and proof of funds.
The property spans 685-691 S Clinton and 125 Dye St in Trenton, New Jersey. Professional management is in place, and showings are scheduled by appointment around tenant availability. Interior access requires buyer verification and proof of funds.
Key Highlights
- Four residential units: two 2‑bedroom, one 1‑bedroom, and one studio
- Restaurant and corner‑store component included
- Apartment 3 updated 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
Multifamily LT 5
$875.5K
$766.1K – $1.02M
NOI $61,285 @ 7.0% cap · market cap 9.74%
Second Best
Specialty Retail
$793.8K
$694.6K – $926.1K
NOI $55,565 @ 7.0% cap · market cap 8.83%
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
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
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
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Four residential units accompany a restaurant and corner-store component in a professionally managed, income-producing property.
Where is this mixed-use property located?
The property is located at 685 685-691 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: Four residential units: two 2‑bedroom, one 1‑bedroom, and one studio; Restaurant and corner‑store component included; Apartment 3 updated with a new kitchen
