Brick Mixed-Use
For Sale
$725,000
721-725 State Street, Perth Amboy, NJ 08861
The property combines a grocery-occupied commercial unit with three apartments and five garage spaces.
Property Size4,921 SF
Price / SF$147.33
Days on Market11
Property Features for 721-725 State Street
General Information
Standard status
Active
Size
4,921 SF
Total Parking Spaces
5
Property subtype
Commercial
Zoning
C-1
Units
Unit Mix
1 x 3BR, 1 x 1BR, 1 x Studio
Multifamily Units
3
Additional Details
Gross Income
$72,000
Tenant in Place
Yes
Taxes and HOA fees
Annual Taxes
$14,437
Building Details
Building Size
4,921 SF
Year Built
1931
Stories
2
Construction
brick
Listing Agency:
J.J. ELEK REALTY CO.
Listed By:
Angel W. Soto
(732) 634-9100
Source:
Lacerdarealtors
Added: Oct 16
Changed: Oct 25
Last Checked: Oct 26 at 4:02AM
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 J.J. ELEK REALTY CO.
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This brick mixed-use property, built in 1931, includes one commercial space currently occupied by a grocery store, three apartments, an additional room, and five garage spaces. The building also has a billboard and is zoned C-1.
Key Highlights
- Commercial unit currently leased to a grocery store
- Three apartments: one 3‑bedroom, one 1‑bedroom, and one studio
- Five garage spaces, including one occupied by the owner
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$42,579
Cap Rate
5.87%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$851,580
$851.6K
Cap Rate 7%
$608,271
$608.3K
Cap Rate 9%
$473,100
$473.1K
Market Conditions
NOI Build-Up for 4,921 SF
Gross rent
$77.9K $15.84/SF
− Vacancy
−$9.8K −$2.00/SF
EGI
$68.1K $13.84/SF
− OpEx
−$25.5K −$5.19/SF
NOI
$42.6K $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 Rate 5%
$851,580
Cap Rate 7%
$608,271
Cap Rate 9%
$473,100
Alternative Uses
Best Use
Apartment 5plus
$1.08M
$945.9K – $1.26M
NOI $75,675 @ 7.0% cap · market cap 10.44%
Second Best
Specialty Retail
$1.08M
$940.7K – $1.25M
NOI $75,256 @ 7.0% cap · market cap 10.38%
Theoretical Best
Office A
$1.28M
$1.12M – $1.50M
NOI $89,948 @ 7.0% cap · market cap 12.41%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
528
Businesses Nearby
Explore this area
Business Placement
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 Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Mixed-use property - The property combines a grocery-occupied commercial unit with three apartments and five garage spaces.
Where is this mixed-use property located?
The property is located at 721-725 State Street Perth Amboy, NJ.
What is the asking price?
The asking price for this property is $725,000.
What are key features of this property?
This property features: Commercial unit currently leased to a grocery store; Three apartments: one 3‑bedroom, one 1‑bedroom, and one studio; Five garage spaces, including one occupied by the owner
