Investment Overview

The Geller Group of Marcus & Millichap Real Estate Investment Services has been exclusively retained by ownership to present the opportunity to acquire 157 New Brunswick Ave Perth Amboy, NJ (The Subject Property) to qualified investors. The 60,063 Gross SF building and Net Rentable 52,101 SF Multi-Tenant Ground Floor Retail & Two Story Office building on .45 AC is in New Jersey's South Edison Retail Submarket. The mixed-use retail/office property is currently 92% leased, featuring a diverse tenant mix that includes State of NJ, County of Middlesex, and a mix of ground floor retail tenants. Located within the South Edison Submarket, the asset benefits from a highly constrained retail environment. As of Q3 2025, the submarket reports a low retail vacancy rate of just 2.9%, with no new retail construction underway and limited competitive development planned. This scarcity of available space underscores the property's strategic positioning and long-term leasing stability. Located along the North Jersey Coast Line, Perth Amboy is served by NJ TRANSIT’s commuter rail system, with the historic Perth Amboy Station acting as a key transit hub. The station, originally built in 1927, is undergoing a $63 million renovation to improve accessibility and modernize facilities. Upgrades include high-level platforms, elevators, ramps, and enhanced security features, all designed to meet ADA standards while preserving the station’s Renaissance Revival architecture. Beyond rail, Perth Amboy is connected by several major highways, including Route 35, Route 440, and the Garden State Parkway, offering regional access to New York City, Newark, and the Jersey Shore. The city also benefits from NJ TRANSIT bus routes, such as the 116, 48, and 815, which link Perth Amboy to surrounding municipalities and transit centers. The Office of Economic and Community Development (OECD) is spearheading initiatives to make Perth Amboy more pedestrian- and bike-friendly. As part of the “Healthier Perth Amboy” campaign, new bike racks funded by the Robert Wood Johnson Foundation are being installed throughout the city. These efforts aim to encourage eco-friendly transportation and reduce reliance on cars. In collaboration with Keep Middlesex Moving, the city is also launching a pedestrian safety campaign, which includes crosswalk art and “complete streets” designs to improve walkability and reduce traffic-related accidents. These enhancements are part of a broader strategy to make Perth Amboy a more equitable and accessible city for all. As Perth Amboy continues to evolve, its transit arteries are being reimagined not just as conduits for movement, but as vital components of community development and urban renewal. The subject property comprises an irregular parcel with an approximate area totaling approximately 0.45 acres in the heart of Perth Amboy, NJ. Situated on this parcel is a 57,000-square-foot office building with ground floor retail and two upper floors of office space. According to records from the City of Perth Amboy Department of Assessment, the original building was constructed circa 1918, reflecting the architectural character of the era. The building occupies the majority of the site and is bordered by municipal walkways and public right-of-ways, providing excellent pedestrian access and visibility. This configuration supports both commercial and institutional uses, making it a strategic asset in a tightly held submarket with limited development pipeline. The historic downtown district of Perth Amboy is experiencing a dynamic transformation, as city officials and local businesses work together to revitalize the area’s retail and cultural landscape. Centered around Smith Street, the city’s main commercial corridor, downtown Perth Amboy has long been home to a diverse mix of family-owned shops, ethnic restaurants, and specialty stores. Now, with new investments and development projects underway, the district is poised to become a regional destination for shopping, dining, and entertainment. One of the most ambitious efforts is the $110 million Gateway Redevelopment Project, a nine-acre mixed-use development at the intersection of Smith Street and Convery Boulevard. The project will feature retail spaces, a performing arts center, hospitality venues, and scenic trails along the Raritan River. City officials say the development will serve as a gateway to downtown and complement the existing retail corridor. “This is more than just construction—it’s a reflection of our city’s resilience and vision for the future,” said Mayor Helmin J. Caba. “We’re creating a space where people can live, work, shop, and connect.” In addition to large-scale development, local initiatives are helping to boost small businesses. The ShopDowntown.org Discount Card Program offers shoppers up to 15% off at participating stores when they donate to the American Cancer Society, encouraging community engagement and support for local entrepreneurs. The city is also investing in beautification and cultural programming, with plans to enhance public spaces through art installations, events, and community-driven projects. These efforts aim to reinforce downtown Perth Amboy’s identity as a vibrant, inclusive, and walkable district. As construction progresses and new businesses open their doors, residents and visitors alike are beginning to see the impact of these changes. From morning coffee at a local café to evening performances at the future arts center, downtown Perth Amboy is writing a new chapter—one rooted in tradition but looking boldly toward the future. The property’s location allows employees immediate access to many amenities, retail and restaurant options, and ease of access from anywhere in the Perth Amboy, NJ MSA.