Mixed-Use Building on Prominent
For Sale
$550,000
691 Inman Avenue, Colonia, NJ 07067
Mixed-use building with office space and apartment in desirable location.
Property Size1,314 SF
Price / SF$418.57
Days on Market394
Property Features for 691 Inman Avenue
General Information
Standard status
Active
Size
1,314 SF
Taxes and HOA fees
Annual Taxes
$10,299
Building Details
Year Built
1952
Listing Agency:
COLDWELL BANKER REALTY
Listed By:
HEATHER RODRIGUEZ
Source:
Corcoran
Added: Jul 25, 2025
Changed: Mar 16
Last Checked: Mar 16 at 9:09AM
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 COLDWELL BANKER REALTY
Investment Insights
Based on property information with market context.
This mixed-use building is situated on a prominent double-line road with high visibility and heavy traffic flow. The property features a ground-floor office space suitable for various professional uses, and a 3-bedroom apartment in mint condition. The apartment is suitable for an owner-occupant or as a rental income source. The property is set on a nicely sized lot and offers curb appeal and potential for future expansion. The building size is 1314 square feet.
Key Highlights
- Prime location on a prominent, high‑traffic road offering exceptional visibility for business exposure.
- Mixed‑use building provides both ground‑floor office space and a mint‑condition 3‑bedroom apartment.
- Ideal for owner‑occupancy with rental income potential from either the office or apartment.
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
$20,104
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
3.66%
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%
$402,080
$402.1K
Cap Rate 7%
$287,200
$287.2K
Cap Rate 9%
$223,378
$223.4K
Market Conditions
NOI Build-Up for 1,314 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
$39.4K $30.00/SF
− Vacancy
−$12.6K −$9.60/SF
EGI
$26.8K $20.40/SF
− OpEx
−$6.7K −$5.10/SF
NOI
$20.1K $15.30/SF
Area
Middlesex County, NJ
Vacancy
32.00%
Lease Rate
$30.00 /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%
$402,080
Cap Rate 7%
$287,200
Cap Rate 9%
$223,378
Alternative Uses
Best Use
Office B
$287.2K
$251.3K – $335.1K
NOI $20,104 @ 7.0% cap · market cap 3.66%
Second Best
Mixed Use
$162.4K
$142.1K – $189.5K
NOI $11,370 @ 7.0% cap · market cap 2.07%
Theoretical Best
Office A
$343.1K
$300.2K – $400.3K
NOI $24,018 @ 7.0% cap · market cap 4.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
383
Businesses Nearby
Explore this area
Business Placement
Demographics for 07067, NJ
18,609
Population
6,243
Households
3
Avg Household Size
43
Median Age
47%
College-Educated
92%
High-School Grad
4.0 sq mi
ZIP Area
4,652
Density / Sq Mi
$134,301
Median Household Income
$67,393
Median Earnings
$1,964
Median Rent
$473,200
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Mixed-use building with office space and apartment in desirable location.
Where is this mixed-use property located?
The property is located at 691 Inman Avenue Colonia, NJ.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: Prime location on a prominent, high‑traffic road offering exceptional visibility for business exposure.; Mixed‑use building provides both ground‑floor office space and a mint‑condition 3‑bedroom apartment.; Ideal for owner‑occupancy with rental income potential from either the office or apartment.
