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$2,495,000
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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.
Full Property Details
Full Property Details for 378 George St
General
- Price: $2,495,000
- Taxes: $51,450 (2024)
- Status: Under Contract
- Type: Multi-Family
- Source: Middlesex
- MLS ID: 2614844R
- Updated: 6/5/2026
- Added to Site: 74 day(s) ago
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)
- Appliances: 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)
Rooms
Bathrooms
- Total Bathrooms: 5
Other Rooms
- Living Room: 6,120 Sq. Ft.
Parking
- Parking Features: See Remarks
- Parking: See Remarks
Location
- County: Middlesex
Heating & Cooling
- Cooling Type: A/C Central - All, Unit 1(A/C Central), Unit 2(A/C Central), Unit 3(A/C Central)
- Heating Type: Forced Air
Utilities
- Gas: Natural Gas
- Sewer: Public Sewer
- Water: Public
- Utility Description: Gas in Street
Structural Information
- Basement Desc.: Full, Storage Space, Utility Room
- Roof: Flat
- Stories/Levels: 3
- Square Feet: 6,120
- Year Built: 1905
Lot Features
- Lot Size (Acres): 0.0482
- Lot Size (Sq. Ft.): 2,100
- Lot Dimensions: 105.00 x 20.00
- Lot Features: Near Shopping, Near Train
- Zoning: C-4
- Lot Description: Near Shopping, Near Train
Financial Considerations
- Tax Amount: $51,450
- Tax Year: 2024
Disclosures and Reports
- Property ID: 1300015000000019
Listed by Tverdov Housing
Get Pre-Approved Today
Schools
Schools serving 378 George St
School District:New Brunswick City School District
| Name | Grades | Distance |
|---|---|---|
Roosevelt Elementary School, New Brunswick, NJ 83 Livingston Avenue, New Brunswick, NJ 08901 | K-5 | 0.4 mi |
New Brunswick Middle School 1125 Livingston Avenue, New Brunswick, NJ 08901 | 6-8 | 2.1 mi |
New Brunswick High School 1000 Somerset Street, New Brunswick, NJ 08901 | 9-12 | 2.2 mi |
Disclaimer:
School attendance boundaries provided by ATTOM Data Solutions and are for reference only. Contact the school directly to verify enrollment eligibility.
Price & Sales History for 378 George St
Date
Details
Price
Change
Source
5/01/2026
Listed
$2,495,000
18.16%
MLS
9/17/2021
Sold
$2,111,500
—
Public Record
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
Tax History
Tax History for 378 George St
Year
Property Taxes
Change
Tax Assessment
Change
2025
$52,806
3%
$1,964,500
—
2024
$51,450
3%
$1,964,500
—
2023
$49,957
2%
$1,964,500
—
2022
$48,896
22%
$1,964,500
—
2022
$40,219
-19%
$1,964,500
—
2021
$49,437
34%
$1,964,500
—
2021
$37,011
-22%
$1,964,500
—
2019
$47,600
2%
$1,964,500
—
2018
$46,519
-14%
$1,964,500
-17%
2017
$53,794
90%
$2,365,600
390%
2016
$28,309
2%
$482,600
—
2015
$27,634
2%
$482,600
—
2014
$27,141
—
$482,600
—
Disclaimer: Historical tax information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
Estimate the Cost
Estimate the Cost for 378 George St
378 George Street, New Brunswick, NJ 08901 (MLS# 2614844R) is a Multi-Family property with units containing 0 bedrooms and 0 full bathrooms. 378 George Street is currently listed for $2,495,000 and was received on May 01, 2026. Want to learn more about 378 George Street? Do you have questions about finding other Multi-Family real estate for sale in New Brunswick? You can browse all New Brunswick real estate or contact a Coldwell Banker agent to request more information.

