371 Pittstown Rd

Franklin Twp., NJ 08867

Outstanding Investment Opportunity in Hunterdon County! This 7,238 SF mixed-use brick building, circa 1887, offers steady income, upside, and historic character. Situated on 0.77 acres with ample parking, it includes two commercial units on the first floor and two residential apartments above. Zoned NB (Neighborhood Business), the location has excellent visibility near Routes 78, 22, 287, and 31 ideal for commuters and businesses.Fully rented except one updated unit. A well-established Italian restaurant occupies one commercial space with a 5-year lease and scheduled increases: Year 2 (current): $3,165/mo ($38,028/year). The second commercial unit, approx. 1,440 SF, is leased to a dental office at $2,100/mo, with negotiations targeting $2,400/mo. Upstairs, a 2-bedroom unit rents at $1,525/mo, and a 3-bedroom unit is expected to rent for $2,000/mo after renovations.Heat is included (oil-fired radiator), tenants pay electric. Commercial spaces have central air, residential units have window A/Cs. Served by private well and septic.Projected gross annual income exceeds $103,000 with operating expenses around $43,500, offering a 6.65% cap rate at list price. Income, expenses, survey, and leases available upon request. Don't miss this chance to own an income-generating asset in a desirable rural-suburban market.