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378 George St 6,801 SF 100% Leased Retail Building New Brunswick, NJ 08901 $3,391,953 CAD ($498.74 CAD/SF) 6.73% Cap Rate
Investment Highlights
- Walkable downtown
- Walking distance to train station
- Fully renovated building
Executive Summary
Strong 6.77% 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.
Financial Summary (Actual - 2025) Click Here to Access |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2025) Click Here to Access
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Storefront Retail/Residential
Building Size
6,801 SF
Building Class
C
Year Built/Renovated
1990/2006
Price
$3,391,953 CAD
Price Per SF
$498.74 CAD
Cap Rate
6.73%
NOI
$228,199 CAD
Percent Leased
100%
Tenancy
Multiple
Building Height
3 Stories
Building FAR
3.12
Lot Size
0.05 AC
Opportunity Zone
Yes
Zoning
C-4 - Nonrestricted Commercial
Exceptionally walkable
100/100
Very drivable
80/100
Exceptional public transit
90/100
Fairly bikeable
50/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 13-00015-0000-00019 | Total Assessment | $2,667,791 CAD |
| Land Assessment | $563,977 CAD | Annual Taxes | -$1 CAD ($0.00 CAD/SF) |
| Improvements Assessment | $2,103,814 CAD | Tax Year | 2025 |
Property Taxes
Parcel Number
13-00015-0000-00019
Land Assessment
$563,977 CAD
Improvements Assessment
$2,103,814 CAD
Total Assessment
$2,667,791 CAD
Annual Taxes
-$1 CAD ($0.00 CAD/SF)
Tax Year
2025
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378 George St
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