378 George Street, New Brunswick NJ 08901, 1213 - New Brunswick, NJ 08901
- $2,495,000
- 5
- BA
- 6,120
- SqFt
- List Price
- $2,495,000
- Days on Market
- 93
- Status
- ACTIVE UNDER CONTRACT
- MLS#
- 2614844R
- Bathrooms
- 5
- Living Area
- 6,120
- Lot Size (Acres)
- 0.0482
- Year Built
- 1905
Property Description
Strong 6.68% Cap Rate on a fully leased asset delivering reliable cash flow from day one. Discover this beautifully renovated and meticulously maintained mixed-use building in one of New Brunswick's most dynamic and sought-after locations. Perfectly positioned on vibrant George Street, this turn-key property offers immediate income in a designated Opportunity Zone. Anchored by Casa Ragazzi, an upscale restaurant featuring a seasonal menu crafted by Michelin-star-trained chefs. This premier tenant draws consistent foot traffic and enhances the property's prestige in the bustling George St corridor. Above it are 3 spacious apartments, each with impressive high ceilings that create an open, airy feel. These generously sized units (including a standout 4-bedroom, 2.5-bath unit of approximately 2,000 sq ft) appeal to nearly every type of tenant when you combine its location to Rutgers University, the train to NYC and downtown amenities. Approximately 6,800 sq ft of thoughtfully designed space blending commercial vibrancy with residential comfort. 378 George St is updated, continuously maintained and delivers modern systems, quality finishes, and minimal deferred maintenance for a true turn-key operation. Prime Location Benefits: Steps from Rutgers University, cultural venues, dining, transit, and major employers. George Street's high visibility and walkability ensure strong tenant demand and long-term appreciation. Oh, did we mention its in an Opportunity Zone as well? That only adds to the cherry on top of this property. Whether you're an investor seeking stable returns or looking to add a trophy property to your portfolio, 378 George Street represents an exceptional opportunity in New Jersey's thriving educational and economic hub. This is a rare chance to own a fully operational, income-producing building in an unbeatable downtown setting.
Additional Information
- Area
- 1213 - New Brunswick
- Basement Desc
- Full, Storage Space, Utility Room
- Utilities
- Gas In Street
- Taxes
- $51,450
- Lot Size
- 2,100
- Parking Driveway
- See Remarks
- Lot Description
- Near Shopping, Near Train
- Water
- Public
- Basement
- Yes
- Levels
- 3
- Heat Fuel
- Forced Air
- Cooling
- A/C Central - All, Unit 1(A/C Central), Unit 2(A/C Central), Unit 3(A/C Central)
- Water Sewer
- Public Sewer
- Interior
- Unit 1(4 Bedrooms,Kitchen,Living Room,2+ Baths), Unit 2(2 Bedrooms,Kitchen,1 Bath,Living Room), Unit 3(2 Bedrooms,Kitchen,1 Bath,Living Room), Unit 4(See Remarks)
- Rooms
- 14
- Roof
- Flat
- Stories
- 3
- Show Address
- Yes
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Listing courtesy of TVERDOV HOUSING.
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