124 William St 11 Unit Apartment Building $1,800,000 ($163,636/Unit) 7.84% Cap Rate Perth Amboy, NJ 08861

Welcome to 475 State Street/124 William Street, a fully leased mixed-use commercial building located in the heart of Perth Amboy, New Jersey, on the corner of two busy, high-visibility streets. This property offers a prime opportunity for entrepreneurs and investors looking to establish themselves in a thriving and bustling neighborhood. The 6,000-square-foot, multi-tenant building features three levels of railroad-style apartment rental spaces and comes separately metered. The building is 100% leased with a well-known long-term storefront tenant with annual rental increases through July of 2026 and 10 residential apartments. Several apartments have updated kitchens and new hot water heaters installed in the past three years. Additionally, the building has a large basement for plenty of storage space.

The building is in a prime locale, with easy access to major highways, transportation hubs, restaurants, and shops. Perth Amboy is a thriving community with a rich cultural heritage and a diverse population, making it an ideal location for businesses that cater to a wide range of customers and clients. Eight of 10 residential apartments are one-bedroom units, while the remaining two are studios. This building offers a wonderful opportunity to steady financial gains and own a versatile and profitable commercial mixed-use property in one of New Jersey's most vibrant communities.