113 S Warren St
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113 S Warren St
3,500 SF 100% Leased Retail Building Trenton, NJ 08608 $749,815 CAD ($214 CAD/SF) 9% Cap Rate
Investment Highlights
- Mixed Use property in rapidly redeveloping area.
Executive Summary
Now showing! Mixed Use property in the heart of downtown
Trenton’s central business district! Lots of pedestrian traffic from nearby office buildings and residential
neighborhoods. Restaurant tenant on the first floor. Leased through mid-2025. 1 bedroom apartments on
each of the 2nd and 3rd floors are move-in ready. Property in excellent condition. First floor tenant has
profitable business (not included in sale). Stabilized property pro forma shows a cap rate of 9%. New owners
can occupy the apartments or choose their own qualified tenants. First floor interior restaurant space is
approx. 1400 SF of commercial space, plus basement. 1 bedroom apartments are approx. 700SF each. All
units are separately metered for cooking gas and electric. Restaurant has central AC and an 11’ cooking
hood. Apartments have ductless mini splits newly installed for cooling and additional heat. Owner’s utility bill
is less than $300 per month and will go down now that the new mini splits are installed. Apartments feature their
own washer/dryers for the convenience of the tenants. Redevelopment area! The Property is part of the
downtown business improvement district that includes programming for extra cleaning and safety, plus
marketing and tourism. Local government is in the process of creating a “restaurant row” district and
making capital improvements, including sidewalk upgrades, on the block. For new business owners, City of
Trenton has grants available for exterior upgrades and improvements and Trenton Downtown Association can
help with marketing. Several new development projects in the immediate neighborhood including Van Sciver
building (138 new apartments +parking), 200 block of E State St (+/- 600 apartments approved/in pipeline; 50
completed and occupied already), Taxation building redevelopment (see Capital City Redevelopment
Corporation site) and the Trenton Parking Authority’s Front Street Garage, which is receiving expressions of
interest. Easy access to property from Routes 29, 129, 195, 295, 206, and 31. One mile from Trenton Transit
Center One block from Mill Hill Park. 3 blocks from NJ Statehouse and legislature.
Trenton’s central business district! Lots of pedestrian traffic from nearby office buildings and residential
neighborhoods. Restaurant tenant on the first floor. Leased through mid-2025. 1 bedroom apartments on
each of the 2nd and 3rd floors are move-in ready. Property in excellent condition. First floor tenant has
profitable business (not included in sale). Stabilized property pro forma shows a cap rate of 9%. New owners
can occupy the apartments or choose their own qualified tenants. First floor interior restaurant space is
approx. 1400 SF of commercial space, plus basement. 1 bedroom apartments are approx. 700SF each. All
units are separately metered for cooking gas and electric. Restaurant has central AC and an 11’ cooking
hood. Apartments have ductless mini splits newly installed for cooling and additional heat. Owner’s utility bill
is less than $300 per month and will go down now that the new mini splits are installed. Apartments feature their
own washer/dryers for the convenience of the tenants. Redevelopment area! The Property is part of the
downtown business improvement district that includes programming for extra cleaning and safety, plus
marketing and tourism. Local government is in the process of creating a “restaurant row” district and
making capital improvements, including sidewalk upgrades, on the block. For new business owners, City of
Trenton has grants available for exterior upgrades and improvements and Trenton Downtown Association can
help with marketing. Several new development projects in the immediate neighborhood including Van Sciver
building (138 new apartments +parking), 200 block of E State St (+/- 600 apartments approved/in pipeline; 50
completed and occupied already), Taxation building redevelopment (see Capital City Redevelopment
Corporation site) and the Trenton Parking Authority’s Front Street Garage, which is receiving expressions of
interest. Easy access to property from Routes 29, 129, 195, 295, 206, and 31. One mile from Trenton Transit
Center One block from Mill Hill Park. 3 blocks from NJ Statehouse and legislature.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
3,500 SF
Building Class
C
Year Built
1920
Price
$749,815 CAD
Price Per SF
$214 CAD
Cap Rate
9%
NOI
$67,483 CAD
Percent Leased
100%
Tenancy
Multiple
Building Height
3 Stories
Building FAR
1.15
Land Acres
0.07 AC
Opportunity Zone
Yes
Zoning
HIST
MAJOR TENANTS Click Here to Access
- Tenant
- Industry
- SF OCCUPIED
- RENT/SF
- Lease Type
- Lease End
- Skil-lit
- Retailer
-
99,999 SF
-
$9.99
-
Lorem Ipsum
-
Jan 0000
| Tenant | Industry | SF OCCUPIED | RENT/SF | Lease Type | Lease End | |
| Skil-lit | Retailer | 99,999 SF | $9.99 | Lorem Ipsum | Jan 0000 |
Walk Score ®
Very Walkable (88)
PROPERTY TAXES
| Parcel Number | 11-00107-0000-00011-01 | Improvements Assessment | $179,848 CAD |
| Land Assessment | $70,811 CAD | Total Assessment | $250,658 CAD |
PROPERTY TAXES
Parcel Number
11-00107-0000-00011-01
Land Assessment
$70,811 CAD
Improvements Assessment
$179,848 CAD
Total Assessment
$250,658 CAD
-
Roland Pott - Pott Real Estate LLC
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113 S Warren St
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