Victorian Residential Income
New
For Sale
$699,000
96 Broad St, Flemington, NJ 08822
Licensed community-residence property with zoning supporting single-family or two-family residential use by right.
Property Size3,415 SF
Lot Size0.46 Acres
Price / SF$204.69
Days on Market7
Property Features for 96 Broad St
General Information
Standard status
Active
Size
3,415 SF
Lot size
0.46 Acres
Property subtype
Commercial
Zoning
TR
Amenities
Central air
Baseboard - Hotwater Heating
Blacktop Driveway
Central Air Cooling
Composition Shingle Roof
Driveway-Exclusive
Off-Street Parking
Parking Lot-Exclusive
Building Details
Year Built
1905
Construction
Victorian
Listing Agency:
REALTY MARK CENTRAL
(609) 716-8400
Listed By:
AMITKUMAR SHAH
Source:
Corcoran
Added: Sep 14
Changed: Sep 20
Last Checked: Sep 20 at 8:47AM
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 REALTY MARK CENTRAL
Investment Insights
Based on property information with market context.
This 3,415-square-foot residential income property occupies a 0.46-acre lot in Flemington Boro. Built in 1905, the building features Victorian architecture and is currently licensed as a Cooperative Sober Living Residence under a Class F Facility License issued by the New Jersey Department of Community Affairs, Bureau of Rooming and Boarding House Standards.
The property is zoned TR (Transition Residential), permitting single-family or two-family residential use by right. Similar licensed community-residence applications, including sober living or transitional housing, may be possible subject to independent confirmation with the applicable licensing authority and local zoning requirements. The site is located at 96 Broad St and is described as walkable to Main Street shops, dining, and the historic district. It is also within Flood Zone X.
The property is zoned TR (Transition Residential), permitting single-family or two-family residential use by right. Similar licensed community-residence applications, including sober living or transitional housing, may be possible subject to independent confirmation with the applicable licensing authority and local zoning requirements. The site is located at 96 Broad St and is described as walkable to Main Street shops, dining, and the historic district. It is also within Flood Zone X.
Key Highlights
- 3,415 SF residential income property on a 0.46‑acre lot
- 1905 construction with Victorian architectural character
- Currently licensed as a Cooperative Sober Living Residence under a Class F Facility License
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
$52,516
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
7.51%
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%
$1,050,320
$1.1M
Cap Rate 7%
$750,229
$750.2K
Cap Rate 9%
$583,511
$583.5K
Market Conditions
NOI Build-Up for 3,415 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
$102.5K $30.00/SF
− Vacancy
−$7.0K −$2.04/SF
EGI
$95.5K $27.96/SF
− OpEx
−$43.0K −$12.58/SF
NOI
$52.5K $15.38/SF
Area
Hunterdon County, NJ
Vacancy
6.80%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
45.00%
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%
$1,050,320
Cap Rate 7%
$750,229
Cap Rate 9%
$583,511
Alternative Uses
Best Use
Apartment 5plus
$750.2K
$656.5K – $875.3K
NOI $52,516 @ 7.0% cap · market cap 7.51%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$891.7K
$780.3K – $1.04M
NOI $62,421 @ 7.0% cap · market cap 8.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,601
Businesses Nearby
Explore this area
Business Placement
Demographics for 08822, NJ
31,844
Population
12,274
Households
2.6
Avg Household Size
44
Median Age
57%
College-Educated
94%
High-School Grad
64.7 sq mi
ZIP Area
492
Density / Sq Mi
$137,698
Median Household Income
$67,198
Median Earnings
$1,685
Median Rent
$513,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Residential income property - Licensed community-residence property with zoning supporting single-family or two-family residential use by right.
Where is this residential income property located?
The property is located at 96 Broad St Flemington, NJ.
What is the asking price?
The asking price for this property is $699,000.
What are key features of this property?
This property features: 3,415 SF residential income property on a 0.46‑acre lot; 1905 construction with Victorian architectural character; Currently licensed as a Cooperative Sober Living Residence under a Class F Facility License
