A three-story building in downtown Perth Amboy sold for $2,983,334. The 13,600-square-foot, mixed-use asset is located at 112-114 Smith Street at the bustling Five Corners Intersection. The property comprises 10 apartments and one retail space on the ground floor.
Brent Hyldahl and Alan Cafiero of Marcus & Millichap represented the seller, 112 Smith Street Realty Trust. The team also located a buyer for the Perth Amboy property, 112-114 Smith Street, LLC.
“We’re pleased to announce the sale of 112–114 Smith St. in downtown Perth Amboy,” noted Marcus & Millichap’s Hyldahl. “This transaction highlights the continued demand for stabilized mixed-use assets in walkable downtown cores across New Jersey.”
The building’s 10 residences include two studios, six one-bedroom units, and two two-bedroom units. Alex Diamonds currently leases the ground-floor retail space. The property is fully occupied at the time of sale.
In addition to its prime downtown location, the Middlesex County property offers easy access to the Garden State Parkway, New Jersey Turnpike, and US-9, and is also moments from the Outerbridge Crossing connecting Staten Island and New Jersey.
