Under contract

378 George St, New Brunswick, NJ 08901

Baths
5
Sqft
6,120

View property features, location on map, relevant school information and overview from seller's agent.

Listed byTVERDOV HOUSING
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Overview

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.

Location

Full feature list

Basic info

Property type
Multi-family
Number of stories
3
Number of bathrooms
5
Square feet
6,120
Lot size (acres)
0.05
Year built
1905

Interior features

Basement
Yes

Exterior features

Horse amenities
Stable

Utilities

Heating
Forced Air
Cooling
Central Air
Sewer
Public Sewer
Water
Public Water

Taxes

Tax Annual Amount (2024)
$51,450

Public schools

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Disclaimer: Certain information displayed on this listing has been derived from parties other than Final Offer, LLC. Information provided and their sources have been deemed reliable, but accuracy of information is not guaranteed and therefore should be independently verified.

Sourced from: Central Jersey MLS MLS®#: 2614844R Last checked:

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