371 Pittstown Rd, Franklin Twp., NJ

About 371 Pittstown Rd

Outstanding Investment Opportunity in Hunterdon County!Historic 7,238 SF mixed-use brick building (circa 1887) offering strong cash flow and clear upside. Situated on 0.77 acres with ample parking, the property includes 2 first-floor commercial units and 2 upstairs apartments. Zoned NB (Neighborhood Business) with excellent visibility near Routes 78, 22, 287 & 31. Current tenants include a well-established Italian restaurant in Year 2 of a 5-year lease ($3,165/mo current, $3,695/mo by Year 5) and two occupied apartments?2BR at $1,525/mo and 3BR at $1,925/mo (one-year lease). The second commercial unit (approx. 1,440 SF) was previously leased to a dental office at $2,100/mo and is now vacant?ideal to re-tenant at market ($2,400+/mo). Building features oil-fired radiator heat (included in rent), tenant-paid electric, central A/C in commercial units, window A/Cs in apartments, private well & septic. Current in-place gross income ? $79.4K with expenses ? $43.5K producing a 5.3% cap rate at $679K list price; stabilized cap rate projected ? 9.6% once the vacancy is filled. A rare chance to own a fully functioning, income-generating asset with historic character in a desirable rural-suburban market. See video tour with drone footage!

Listing Map