371 Pittstown Rd , Franklin Twp., Hunterdon 08867-4166

  • $649,000

Description

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!

  • Address: 371 Pittstown Rd
  • City: Franklin Twp.
  • State/county: Hunterdon
  • Zip/Postal Code: 08867-4166

Details

Updated on December 21, 2025 at 12:00 pm
  • Property ID HZ3972269
  • Price $649,000
  • Property Size 7238 Sqft
  • Land Area 0.77 Acres
  • Garage Size x x
  • Year Built 1887

Additional details

  • Roof Asphalt Shingle
  • Utilities See Remarks
  • Sewer Septic
  • Cooling 3 Units
  • Heating 1 Unit, Radiant - Hot Water
  • County Hunterdon
  • Property Type MixedUse

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