371 Pittstown Rd - Storefront Retail/Residential FOR SALE


Pittstown, NJ 08867
$899,000 USD
609-731-4265
371 Pittstown Rd, Pittstown, NJ for Sale
$899,000 USD
Storefront Retail/Residential - FOR SALE
1/32
null | Request Cap Rate

371 Pittstown Rd
Pittstown, NJ 08867


HIGHLIGHTS

  • Fully-Leased Mixed-Use Asset – 7,238 SF historic brick building (circa 1887)
  • Established Tenants in Place – Includes a popular Italian restaurant on a 5-year lease and a dental office with active lease negotiations.
  • Strong Income Potential – Projected gross annual income over $103,000 with operating expenses around $43,500; estimated 6.65% cap rate.
  • Desirable Location – Zoned NB (Neighborhood Business) with excellent visibility and access to Routes 78, 22, 287, and 31.
  • On-Site Parking & Utilities – Ample on-site parking; oil heat included, tenants pay electric.
  • Value-Add Upside – Renovated 3-bedroom unit expected to rent for $2,000/mo; potential to increase NOI through rent growth and leasing the final unit.

OVERVIEW

: Outstanding Investment Opportunity in Hunterdon County! This 7,238 SF mixed-use brick building, circa 1887, offers steady income, upside, and historic character. Situated on 0.77 acres with ample parking, it includes two commercial units on the first floor and two residential apartments above. Zoned NB (Neighborhood Business), the location has excellent visibility near Routes 78, 22, 287, and 31 ideal for commuters and businesses.Fully rented except one updated unit. A well-established Italian restaurant occupies one commercial space with a 5-year lease and scheduled increases: Year 2 (current): $3,165/mo ($38,028/year). The second commercial unit, approx. 1,440 SF, is leased to a dental office at $2,100/mo, with negotiations targeting $2,400/mo. Upstairs, a 2-bedroom unit rents at $1,525/mo, and a 3-bedroom unit is expected to rent for $2,000/mo after renovations.Heat is included (oil-fired radiator), tenants pay electric. Commercial spaces have central air, residential units have window A/Cs. Served by private well and septic.Projected gross annual income exceeds $103,000 with operating expenses around $43,500, offering a 6.65% cap rate at list price. Income, expenses, survey, and leases available upon request. Don't miss this chance to own an income-generating asset in a desirable rural-suburban market.

FOR SALE DETAILS

PRICE

$899,000 USD

PRICE/SF

$124 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront Retail/Residential

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1887

SPRINKLERS

-

PARKING SPACES

9

LAND DETAILS

LAND ACRES

0.69 AC

LAND SF

30,056 SF

ZONING

M

APN/PARCEL ID

10-00026-0000-00010

ASK ABOUT THIS PROPERTY

Sean MulliganARC Real EstateMore Info
609-731-4265

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Sean MulliganARC Real EstateMore Info
609-731-4265

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.