Mixed-Use Property with
For Sale
Contact for pricing
69-71 NJ-156, Trenton, NJ 08620
Investment property featuring a restaurant and residential units.
Property Size4,700 SF
Price / SF$180.64
Days on Market1050
Property Features for 69-71 NJ-156
General Information
Standard status
Active
Size
4,700 SF
Property subtype
Retail
Zoning
R10
Building Details
Tenancy
Multi
Listing Agency:
Suburban City Commercial
Listed By:
Glenn Gaines · License #PA 330696
Source:
Crexi
Added: Sep 25, 2023
Changed: Aug 8
Last Checked: Aug 8 at 11:50AM
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 Suburban City Commercial
Investment Insights
Based on property information with market context.
This mixed-use property presents an opportunity to acquire an investment with a long-term tenant. The property includes a duplex with two residential units. Anchoring the parcel is a restaurant operated by an experienced operator with over 40 years in the business. The property size is 4700 square feet.
Key Highlights
- Long‑term tenant provides immediate income.
- Anchored by a long‑term, experienced restaurant operator (40+ years).
- Mixed‑use parcel offers diversified income potential.
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
$75,304
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
8.87%
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%
$1,506,080
$1.5M
Cap Rate 7%
$1,075,771
$1.1M
Cap Rate 9%
$836,711
$836.7K
Market Conditions
NOI Build-Up for 4,700 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
$105.5K $22.44/SF
− Vacancy
−$5.1K −$1.08/SF
EGI
$100.4K $21.36/SF
− OpEx
−$25.1K −$5.34/SF
NOI
$75.3K $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%
$1,506,080
Cap Rate 7%
$1,075,771
Cap Rate 9%
$836,711
Alternative Uses
Best Use
Specialty Retail
$1.08M
$941.3K – $1.26M
NOI $75,304 @ 7.0% cap · market cap 8.87%
Second Best
Mixed Use
$886.3K
$775.5K – $1.03M
NOI $62,040 @ 7.0% cap · market cap 7.31%
Theoretical Best
Warehouse
$1.51M
$1.32M – $1.76M
NOI $105,852 @ 7.0% cap · market cap 12.47%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
42
Businesses Nearby
Explore this area
Business Placement
Demographics for 08620, NJ
14,633
Population
4,195
Households
3.5
Avg Household Size
34
Median Age
29%
College-Educated
91%
High-School Grad
9.0 sq mi
ZIP Area
1,626
Density / Sq Mi
$108,732
Median Household Income
$43,958
Median Earnings
$1,490
Median Rent
$341,000
Median Home Value
Market
Vacancy Rate% for Retail 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?
Mixed-use property - Investment property featuring a restaurant and residential units.
Where is this mixed-use property located?
The property is located at 69-71 NJ-156 Trenton, NJ.
What is the asking price?
The asking price for this property is $849,000.
What are key features of this property?
This property features: Long‑term tenant provides immediate income.; Anchored by a long‑term, experienced restaurant operator (40+ years).; Mixed‑use parcel offers diversified income potential.
