Mixed-Use Brick
721 State St Perth Amboy, NJ 08861
721 State St, Perth Amboy, NJ, 08861
$725,000
For Sale
$725,000
Well-maintained brick building on an approximately 75-by-100 lot with a leased grocery store and three apartments plus garage spaces.
Property Size4,921 SF
Price / SF$147.33
Days on Market78
Property Features for 721 State St
General Information
- Standard status
- Active
- Size
- 4,921 SF
Listing agency
J.J. ELEK REALTY CO.
Listed by
ANGEL W. SOTO
Source
Exprealty
Added: May 6 Updated: Jul 21 at 12:36PM Checked: Jul 21 at 12:36PM
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.
Investment Insights
Based on property information with market context.
Well-maintained brick building on an approximately 75-by-100 lot. The property includes one commercial space currently leased as a grocery store, along with three apartments and an additional room. Also included are five garage spaces, four of which are rented and one garage is owner occupied.
The building’s commercial and residential income streams are supported by a provided rent roll, including the grocery store and separate apartment rents, along with rental income from four garages and a small billboard income item. Approximate yearly gross income and stated annual expenses for property taxes, hazard insurance, water/sewer, and gas are included with the remarks.
This is a mixed-use asset configured to support both retail and residential occupancy within a single brick building, with on-site garage parking available through the included garage spaces.
The building’s commercial and residential income streams are supported by a provided rent roll, including the grocery store and separate apartment rents, along with rental income from four garages and a small billboard income item. Approximate yearly gross income and stated annual expenses for property taxes, hazard insurance, water/sewer, and gas are included with the remarks.
This is a mixed-use asset configured to support both retail and residential occupancy within a single brick building, with on-site garage parking available through the included garage spaces.
Key Highlights
- Brick mixed‑use building on an approx. 75x100 lot with 1 commercial space and 3 apartments
- Commercial grocery store space currently leased
- Apartment unit rents include 3BR at $1,350/month, 1BR at $1,150/month, and studio at $800/month
Local Financial Insights For Mixed Use
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $77.9k | $15.84 |
| − Vacancy | −$9.8k | −$2.00 |
| EGI | $68.1k | $13.84 |
| − OpEx | −$25.5k | −$5.19 |
| NOI | $42.6k | $8.65 |
4,921 SF · lease $15.84/SF/yr · vacancy 12.60% · expense 37.50%
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 local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Grocery and convenience stores
Similar For Sale Nearby
FAQs
What type of property is this?
Mixed-use property - Well-maintained brick building on an approximately 75-by-100 lot with a leased grocery store and three apartments plus garage spaces.
Where is this mixed-use property located?
The property is located at 721 State St 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: Brick mixed‑use building on an approx. 75x100 lot with 1 commercial space and 3 apartments; Commercial grocery store space currently leased; Apartment unit rents include 3BR at $1,350/month, 1BR at $1,150/month, and studio at $800/month
