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    224 Smith St Perth Amboy, NJ 08861

    Sponsored
    For Sale
    $9,586,160

    Transit-adjacent industrial & retail gem.

    Property size:
    57,685 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional mixed-use property at 224 Smith Street in Perth Amboy, NJ, presents a compelling investment opportunity. The 57,685-square-foot building, constructed in 1929, boasts a prime location directly across from the NJ Transit Perth Amboy Rail Station, offering unparalleled accessibility. The four-story structure features a blend of industrial warehouse space and ground-floor retail, providing versatility for a variety of uses. The warehouse component includes 12-foot clear ceilings, one freight elevator, and one loading dock. The building is divided into four units with varying square footage: basement (14,685 sq ft), ground floor retail (12,500 sq ft), second floor (7,000 sq ft), third floor (11,000 sq ft), and fourth floor (12,500 sq ft). The property sits on a 0.31-acre lot with a 5.09 FAR and benefits from C2 zoning. Currently, the occupancy rate is 21%, offering significant potential for increased revenue. The asking price is $9,586,160, representing a pro-forma cap rate of 6.25% and a pro-forma NOI of $599,135. Its strategic location is further enhanced by its proximity to major transportation hubs: 18.5 miles from Newark International Airport and 22 miles from Port Newark/Port Elizabeth. This fee-simple ownership opportunity is ideal for owner-users seeking a high-return investment in a thriving New Jersey market. The property's strong fundamentals and advantageous location make it an attractive prospect for both immediate income generation and long-term appreciation.

    Property Features for 224 Smith St

    General Information

    Property type
    Individual retail properties
    Square Feet
    57,685 SF
    Class
    C
    Lot Size
    13,504 SF

    Building Details

    Year Built
    1929
    Buildings
    1
    Stories
    4
    Units
    4

    HighLights

    • 12‑foot clear ceiling heights.
    • Freight elevator included.
    • Located in an Opportunity Zone.
    • 18.5 miles from Newark Liberty International Airport.
    • 22 miles from Port Newark‑Elizabeth Marine Terminal.
    • Building offers a mix of retail and office space totaling approximately 57,685 rentable square feet, distributed across five floors (including basement).
    Property Profile Location Intelligence

    Current Use by Public Records

    TRTC Testosterone Replacement ... Health Counselor Magdady Super Store Wholesaler Elwir's Furniture Furniture Store

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Perth Amboy
    County
    Middlesex
    State
    New Jersey
    Longitude
    -74.2722637
    Latitude
    40.510235

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    FAQs

    What type of property is this?
    Individual retail property - Transit-adjacent industrial & retail gem.
    Where is this individual retail property located?
    The property is located at 224 Smith St Perth Amboy, NJ.
    What is the asking price?
    The asking price for this property is $9,586,160.
    What are key features of this property?
    This property features: 12-foot clear ceiling heights.; Freight elevator included.; Located in an Opportunity Zone.
    Request Owner's contact information
    224 Smith St Perth Amboy, NJ 08861
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    Perth Amboy, NJ 08861
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    224 Smith St Perth Amboy, NJ 08861
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