NJ > Franklin Twp.
Franklin Twp., NJ 08867,371 Pittstown Rd
Franklin Twp., NJ 08867,371 Pittstown Rd
Franklin Twp., NJ 08867,371 Pittstown Rd
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$749,000
Est. payment /mo
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7,238 SqFt
Price Dropped by $50K

371 Pittstown Rd Franklin Twp., NJ 08867

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Jonathan Greene

Jonathan Greene

+1(973) 873-0734

UPDATED:

Key Details

Property Type Single Family Home

Sub Type Mixed Use

Listing Status Active

Purchase Type For Sale

Square Footage 7,238 sqft

Price per Sqft $103

MLS Listing ID 3972269

Year Built 1887

Annual Tax Amount $17,473

Tax Year 2024

Lot Size 0.770 Acres

Property Sub-Type Mixed Use

Property Description

Outstanding Investment Opportunity in Hunterdon County! Historic 7,238 SF mixed-use brick building (circa 1887) with strong cash flow and upside. Set on 0.77 acres with ample parking, 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 with scheduled rent increases ($3,165/mo current, $3,695/mo by Year 5). Second commercial space is leased to a dental office ($2,100/mo) through October, creating opportunity to re-tenant at market ($2,400+/mo). Upstairs, a 2BR rents for $1,525/mo and a 3BR is newly updated and projected at $2,000/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.Projected stabilized gross income $109K with expenses around $43.5K. NOI $65.6K equates to an attractive 8.75% cap rate at the $749,000 list price. A rare chance to acquire a fully functioning, income-generating asset with historic charm in a desirable rural-suburban market. See the video tour with drone footage!

Location

State NJ

County Hunterdon

Zoning Mixed Use

Rooms

Basement Unfinished

Interior

Heating Oil Tank Above Ground - Inside

Cooling 3 Units

Equipment Kitchen Area, Smoke Detector

Heat Source Oil Tank Above Ground - Inside

Exterior

Exterior Feature Brick/Block

Utilities Available See Remarks

Roof Type Asphalt Shingle

Building

Story 2

Sewer Septic

Water Well

Others

Ownership Fee Simple

Garden State MLS(GSMLS)
Information deemed reliable but not guaranteed. Copyright © 2025 Garden State Multiple Listing Service, L.L.C. All rights reserved.
Listed by ARC REAL ESTATE

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Jonathan Greene

Jonathan Greene

Broker of Record | License ID: 1433604

+1(973) 873-0734

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