224 Smith St Perth Amboy, NJ 08861

Property Details for 224 Smith St

Year built

1930

Construction

BRICK

Lot size

0.31 lot acres

Zone code

C-2

Property type

Commercial real estate

APN

16 00121-0000-00007

APU

1600121000000007

Description

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.

Location Insight

City

Perth Amboy

County

Middlesex

State

New Jersey

Longitude

-74.2723

Latitude

40.5103

CBSA code

35620

CBSA name

NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments