Automotive Garage with Leased
For Sale
$685,000
805 Amboy Ave, Perth Amboy, NJ 08861
Successful garage includes an upstairs tenant with an active lease through March 2025.
Property Size3,236 SF
Price / SF$211.68
Days on Market927
Property Features for 805 Amboy Ave
General Information
Standard status
Active
Size
3,236 SF
Additional Details
Business Included
Yes
Taxes and HOA fees
Annual Taxes
$11,664
Listing Agency:
J.J. ELEK REALTY CO.
(732) 634-9100
Listed By:
JEFFREY C. STEUBER
Source:
Exprealty
Added: Feb 21, 2024
Changed: Aug 20
Last Checked: Sep 4 at 10:31AM
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.
This for-sale automotive garage has been in operation for over 25 years and features a second-level leased space. The upstairs tenant is currently under lease through March 2025, providing an income stream during the ownership period. Tenant payments are $1,300 per month, plus utilities.
The property is located at 805 Amboy Ave in Perth Amboy, New Jersey.
With the combination of an operating garage and a leased upstairs tenant, the property offers a two-level setup designed to support both business continuity and rental income.
The property is located at 805 Amboy Ave in Perth Amboy, New Jersey.
With the combination of an operating garage and a leased upstairs tenant, the property offers a two-level setup designed to support both business continuity and rental income.
Key Highlights
- Successful garage business operating for over 25 years
- Upstairs tenant has an active lease through March 2025
- Tenant rent is $1,300 per month, plus utilities
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
$46,188
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
6.74%
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%
$923,760
$923.8K
Cap Rate 7%
$659,829
$659.8K
Cap Rate 9%
$513,200
$513.2K
Market Conditions
NOI Build-Up for 3,236 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
$69.9K $21.60/SF
− Vacancy
−$3.9K −$1.21/SF
EGI
$66.0K $20.39/SF
− OpEx
−$19.8K −$6.12/SF
NOI
$46.2K $14.27/SF
Area
Middlesex County, NJ
Vacancy
5.60%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
30.00%
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%
$923,760
Cap Rate 7%
$659,829
Cap Rate 9%
$513,200
Alternative Uses
Best Use
Retail
$659.8K
$577.4K – $769.8K
NOI $46,188 @ 7.0% cap · market cap 6.74%
Second Best
Industrial
$518.9K
$454.0K – $605.4K
NOI $36,322 @ 7.0% cap · market cap 5.30%
Theoretical Best
Office A
$845.0K
$739.4K – $985.8K
NOI $59,149 @ 7.0% cap · market cap 8.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
860
Businesses Nearby
85k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 69%
Dining 31%
QuickChek
Shops & Services
33,456 visits/mo
0.4 miles
Wendy's
Dining
26,087 visits/mo
0.4 miles
Bank of America
Shops & Services
13,126 visits/mo
0.5 miles
QuikStop
Shops & Services
6,749 visits/mo
0.1 miles
Speedway
Shops & Services
5,113 visits/mo
0.3 miles
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 Retail in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Auto shop - Successful garage includes an upstairs tenant with an active lease through March 2025.
Where is this auto shop located?
The property is located at 805 Amboy Ave Perth Amboy, NJ.
What is the asking price?
The asking price for this property is $685,000.
What are key features of this property?
This property features: Successful garage business operating for over 25 years; Upstairs tenant has an active lease through March 2025; Tenant rent is $1,300 per month, plus utilities
