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    The Largest CRE Database in the US with Over 1 Million Listings

    154 Main St Butler, NJ 07405

    Sponsored
    For Sale
    $529,000

    Commercial - Butler Boro, NJ

    Property size:
    8,000 SF
    Lot size:
    0.18 Acres
    Days on Market:
    28
    Last Refresh:
    Feb 12 at 6:06 pm

    Property Features for 154 Main St

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    Zoning
    CBD
    Rooms
    Basement
    Basement Y/N
    1
    Size
    8,000 SF
    Lot size
    0.18 Acres

    Utilities

    Cooling system
    Central Air, None (Cooling)

    Building Details

    Year built
    1903
    Floors in Building
    3
    Flooring type
    Laminate
    Building materials
    Block, Brick, Concrete, Vinyl Siding
    Roof type
    Rubber
    Architectural style
    Other

    We can help!

    Listing Contact
    DEBRA ZYSKOWSKI

    Terrie O'Connor Realtors (201) 334-5730

    Listing agent DEBRA ZYSKOWSKI (201) 334-5730

    Listing date Jan 16, 2026

    MLS# 3992143 Listing URL

    Copyright © 2026 Garden State MLS, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Butler Boro Mixed-Use Development Opportunity

    This large commercial building, originally constructed in 1903, presents a development opportunity in Butler's Main Street Business District. Previously known as Louis Levine's Clothing and originally built as Goldstein Brothers Department Store, the property features two finished commercial storefront units on the first floor, one of which is currently rented. The other is owner-occupied. These units boast high ceilings. The two upper floors are unfinished, offering various possibilities. The owner has plans for six two-bedroom apartments, subject to town approval and potential variances. This property is suited for a builder or investor looking to collect rent from the commercial spaces on the first floor while exploring development options for the upper floors. The owner believes the building once had an additional floor, evidenced by existing stairs, though this fourth floor is no longer present. The property is situated on a lot of 0.18 acres and the building size is approximately 8,000 square feet.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Storefront properties

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Butler
    County
    Morris
    State
    New Jersey
    Longitude
    -74.34013
    Latitude
    41.00264

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    FAQs

    What type of property is this?
    Mixed-use property - Large commercial building with development potential in Butler's Main Street.
    Where is this mixed-use property located?
    The property is located at 154 Main St Butler, NJ.
    What is the asking price?
    The asking price for this property is $529,000.
    What are key features of this property?
    This property features: - Prime development opportunity in Butler Main Street Business District.; - Large 3-story commercial building with endless possibilities.; - **Two finished and rentable commercial storefront units on the first floor.**
    (201) 334-5730
    Request Owner's contact information
    154 Main St Butler, NJ 07405
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    Butler, NJ 07405
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    154 Main St Butler, NJ 07405
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    We can help!
    Listing Contact
    DEBRA ZYSKOWSKI
    (201) 334-5730 (973) 838-0100 (201) 247-6334
    Learn more
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