Brick Mixed-Use
For Sale
Under Contract
$725,000
721-725 State Street, Perth Amboy, NJ 08861
Commercial Sale, Perth Amboy, NJ
Property Size4,921 SF
Lot Size0.17 Acres
Price / SF$147.33
Days on Market1801
Property Features for 721-725 State Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
C-1
Parking
5
Lot features
Business District
Directions
GPS to 721-725 State Street
Standard status
Active Under Contract
APN
160036000000000702
Size
4,921 SF
Lot size
0.17 Acres
Taxes and HOA fees
Tax Year
2020
Tax Annual Amount
14437
Utilities
Sewer type
Public Sewer
Heating system
Hot Water(Heating)
Water source
Public
Building Details
Year built
1931
Floors in Building
2
Building materials
Brick
Roof type
Flat
Listing Agency:
J.J. ELEK REALTY CO.
(732) 634-9100
Listed By:
Angel Soto
(732) 596-2118
Added: Nov 1, 2021
Changed: Sep 11
Last Checked: Oct 6 at 12:06PM
MLS# 2206205R
Copyright © 2026 All Jersey MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Built in 1931, this 4,921-square-foot mixed-use property contains one commercial space currently leased as a grocery store, three apartments, an additional room, and five garage spaces. One garage is owner occupied. The brick building has a flat roof, hot-water heating, public water, and public sewer, and sits on approximately 0.1687 acres. C-1 zoning is in place.
The property is located at 721-725 State Street in Perth Amboy, New Jersey 08861. Its configuration brings together commercial space, residential units, and garage areas within one building, with the existing grocery tenancy and apartment layout already established.
The property is located at 721-725 State Street in Perth Amboy, New Jersey 08861. Its configuration brings together commercial space, residential units, and garage areas within one building, with the existing grocery tenancy and apartment layout already established.
Key Highlights
- 4,921 SF mixed‑use building on approximately 0.1687 acres
- One commercial space currently leased as a grocery store
- Three apartments plus an additional room
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
Multifamily LT 5
$1.18M
$1.03M – $1.37M
NOI $82,359 @ 7.0% cap · market cap 11.36%
Second Best
Apartment 5plus
$1.08M
$945.9K – $1.26M
NOI $75,675 @ 7.0% cap · market cap 10.44%
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.
Property Analytics
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Current Use
Lease Details
Multi-tenant
Tenancy
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
Check the figures for this property
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 - The property combines a leased grocery storefront with three apartments, an additional room, 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: 4,921 SF mixed‑use building on approximately 0.1687 acres; One commercial space currently leased as a grocery store; Three apartments plus an additional room
