Under Contract

378 George Street

New Brunswick, NJ 08901

$2,495,000 $10,519/Mo

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Overview

Bed

Bath

6,120

Sqft

0.05

Acre(Lot)

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 app roximately 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.

Property Details

Property Type : Residential Income

Price : $2,495,000

AD Id : 77910848

MLS Id : 2614844R

Lot Size : 0.05 Acre

Living Area Size : 6,120

Year Built : 1905

County : Middlesex

Map

What's Nearby

Nearby Areas

Features

Bathroom Information

Total Baths: 5

Room Information

Rooms Total: 14 Has Basement: Yes Basement: Full, Storage Space
Roofing Information

Flat
Interior Features

Storage Roof: Flat Appliances: Range, Oven, Water Heater, Refrigerator, Washer
Heating & Cooling

Has Heating: Yes Heating: Forced Air Has Cooling: Yes Cooling: Central Air

Building Information

Year Built: 1905 Building Area Total: 6120 Construction Materials: Brick, Stucco Stories: 3 Private Pool: No

Lot Information

Lot Dimensions: 105.00 x 20.00 Main Square Feet: 0.0482 Acres Lot Size Acres: 0.0482 Lot Size Square Feet: 2100

Listing Price Information

Listing Price: $2495000

Tax Information

Parcel Number: 1300015000000019 Tax Lot: 19 Tax Block: 15 Tax Year: 2024 Annual Tax: $51450

Parking Information

See Remarks

Utility Information

Natural Gas Available
Location Information

Direction: On George St 1-2 blocks off of Route 27. WaterSource: Public

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Nearby Home Value

Address	Estimate	Bed	Bath	Sq. Ft	Lot Size
126 Jones Avenue, New Brunswick, NJ, 08901	$535,000	--	2	--
15 S Ward Street, New Brunswick, NJ, 08901	$515,000	4	2	1,760	1,760 SqFt
65 Hale Street, New Brunswick, NJ, 08901	$649,900	--	2	2,346	2,346 SqFt
75 Delavan Street, New Brunswick, NJ, 08901	$350,000	--	4	3,066	3,066 SqFt
181 Redmond Street, New Brunswick, NJ, 08901	$450,000	--	2	--
168 Throop Avenue, New Brunswick, NJ, 08901	$800,000	--	3	2,235	2,235 SqFt
183 Seaman Street, New Brunswick, NJ, 08901	$580,000	--	2	1,928	1,928 SqFt
135 Baldwin Street, New Brunswick, NJ, 08901	$519,000	--	2	2,184	2,184 SqFt
187 Hale Street, New Brunswick, NJ, 08901	$500,000	--	--	1,248	1,248 SqFt
187 Hale Street, New Brunswick, NJ, 08901	$500,000	4	2	--

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ByOwner last updated this listing 06/23/2026 @ 05:39

MLS: 2614844R LISTED BY: PETER TVERDOV, TVERDOV HOUSING SOURCE: Central Jersey MLS