Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    427 Central Ave Phillipsburg, NJ 08865

    Property Lookup

    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    427 Central Ave Phillipsburg, NJ 08865

    View on Map
    • Apartment buildings
    • 3,122 SF
    • 0.22 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Apartment buildings

    Property Details for 427 Central Ave

    Lot size
    0.22 lot acres
    Property size
    3,122 SF
    Property type
    Apartment buildings

    Description

    Exceptional investment opportunity awaits with this beautifully remodeled 5-unit apartment building in desirable Phillipsburg, New Jersey. This fee-simple property, situated on a 0.22-acre lot, boasts 3,122 square feet and features five units: three 1-bedroom, one 2-bedroom, and one 3-bedroom apartment. Completely renovated in 2024, the building showcases a brand-new roof, new water heaters, updated bathrooms, fresh paint throughout, and contemporary kitchens with new cabinets, countertops, and stainless-steel appliances. New carpeting and LVP flooring enhance the modern aesthetic. The exterior has been revitalized with new vinyl siding, shutters, and a freshly painted block facade. A newly installed paver patio and a stone off-street parking lot provide ample parking for residents. Each unit has its own entrance and separate electric meters for simplified management. The basement offers additional storage space, with potential for coin-operated laundry to increase revenue. The property is zoned R-4 and offers a strong 8.90% cap rate with a current NOI of $88,970. This turnkey investment property is ready for immediate occupancy and offers a hassle-free opportunity to capitalize on the thriving rental market. This is a remarkable property combining modern living with exceptional curb appeal. The asking price is $999,900.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Phillipsburg
    County
    Warren
    State
    New Jersey
    Longitude
    -75.1551
    Latitude
    40.6633

    Comparable in this City

    • Value Estimation by Request
      3,122 SF

      427 Central Ave

      Residential income properties • 3,122 SF
      427 Central Ave, Phillipsburg, NJ 08865
      View Details
    • Value Estimation by Request
      4,575 SF

      774 Main St

      Residential income properties • 4,575 SF
      774 Main St, Phillipsburg, NJ 08865
      View Details
    • Value Estimation
      $1,080,000
      0.08 Acres

      212 Main St

      APARTMENT HOUSE (UNDER 5 UNITS) • 0.08 Acres
      212 Main St, Phillipsburg, NJ 08865
      View Details
    • Value Estimation by Request
      0.14 Acres

      17 Memorial Pkwy

      APARTMENT HOUSE (UNDER 5 UNITS) • 0.14 Acres
      17 Memorial Pkwy, Phillipsburg, NJ 08865
      View Details
    • Value Estimation by Request
      3,608 SF

      201 Chambers St, Unit 207

      APARTMENT HOUSE (UNDER 5 UNITS) • 3,608 SF
      201 Chambers St, Phillipsburg, NJ 08865-2912
      View Details
    • Value Estimation
      $545,000
      3,632 SF

      79-81 Lewis St, Unit 81

      APARTMENT HOUSE (UNDER 5 UNITS) • 3,632 SF
      79-81 Lewis St, Phillipsburg, NJ 08865-2907
      View Details

    Similar Nearby for Sale

    • $675,000
      4,320 SF

      Mixed-Use Building with Garage Bays

      Two-story commercial building with garage bays and office space.
      210 3 Ave, Phillipsburg, NJ 08865
      View Details
    • $1,140,000

      Multi-Family Investment Opportunity

      Nine residential units and five garages for dependable cash flow.
      99 S Main St, Phillipsburg, NJ 08865
      View Details
    • $349,900
      3,560 SF

      Mixed-Use Building with Income Potential

      Versatile mixed-use building with rental income and business opportunities.
      105 Filmore St, Phillipsburg, NJ 08865
      View Details
    • $349,900
      999 SF

      Mixed-Use Building with Income Potential

      Versatile mixed-use building with rental income and business opportunities.
      105 Filmore St, Phillipsburg, NJ 08865
      View Details
    • $349,900
      999 SF

      Mixed-Use Building with Income Potential

      Versatile mixed-use building with income potential in Phillipsburg Town.
      105 Filmore St, Phillipsburg, NJ 08865
      View Details
    • Contact for pricing

      Well-Maintained Apartment Complex in Phillipsburg

      48-unit apartment complex with value-add opportunity in Phillipsburg, New Jersey.
      108 Arrowhead Ct, Phillipsburg, NJ 08865
      View Details

    Similar Nearby for Lease

    • $12 SF/Yr

      Phillipsburg Two-Bedroom Apartment For Rent

      Two-story, two-bedroom apartment with shared yard and off-street parking.
      189 Washington St, Phillipsburg, NJ 08865
      View Details
    • Contact for pricing

      Retail Space For Lease

      Retail space available for lease.
      1250 Us Highway 22, Phillipsburg, NJ 08865
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    427 Central Ave
    Phillipsburg, NJ 08865
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!