REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.

In-PersonVirtual Tour

Niraj Parikh

parikhrealty@gmail.com +1(848) 565-5006

$2,495,000

Est. payment - /mo

6,120 SqFt

Save Virtual Tour

UPDATED:

Key Details

Property Type Multi-Family

Sub Type 4 Family

Listing Status Under Contract

Purchase Type For Sale

Square Footage 6,120 sqft

Price per Sqft $407

MLS Listing ID 2614844R

Year Built 1905

Annual Tax Amount $51,450

Tax Year 2024

Lot Size 2,099 Sqft

Acres 0.0482

Lot Dimensions 105.00 x 20.00

Property Sub-Type 4 Family

Source CJMLS API

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.

Location

State NJ

County Middlesex

Zoning C-4

Rooms

Basement Full, Storage Space, Utility Room

Interior

Interior Features 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)

Heating Forced Air

Cooling A/C Central - All, Unit 1(A/C Central), Unit 2(A/C Central), Unit 3(A/C Central)

Appliance Water Heater(Electric, See Remarks), Water Heater, Unit 1(Dryer, Range/Oven, Refrigerator, Washer), Unit 2(Dryer, Range/Oven, Refrigerator, Washer), Unit 3(Dryer, Range/Oven, Refrigerator, Washer)

Heat Source Natural Gas

Exterior

Utilities Available Gas In Street

Roof Type Flat

Building

Lot Description Near Shopping, Near Train

Story 3

Sewer Public Sewer

Water Public

Others

Senior Community no

Tax ID 1300015000000019

Ownership Joint Venture

Energy Description Natural Gas

Virtual Tour https://www.propertypanorama.com/instaview/msx/2614844R

Read Less Info

Listed by TVERDOV HOUSING

NEARBY SCHOOLS & PROPERTIES

"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "

+1(848) 565-5006

parikhrealty@gmail.com

New Jersey, United States

GET MORE INFORMATION

QUICK SEARCH

378 George ST New Brunswick, NJ 08901