$2,392,500
$2,495,000
4.1%For more information regarding the value of a property, please contact us for a free consultation.
378 George ST New Brunswick, NJ 08901
6,120 SqFt
Key Details
Sold Price $2,392,500
Property Type Multi-Family
Sub Type 4 Family
Listing Status Sold
Purchase Type For Sale
Square Footage 6,120 sqft
Price per Sqft $390
MLS Listing ID 2614844R
Sold Date 08/20/26
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
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