Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    16 Main St Sparta, NJ 07871

    View on Map
    Claim this Listing
    Pending
    $495,000

    Lots and Land - Sparta Twp., NJ

    Added:
    Mar 20, 2025
    Days on Market:
    407
    Last Refresh:
    Apr 30 at 6:06 am

    Property Features for 16 Main St

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Pending

    Taxes and HOA fees

    Tax Year
    2024
    Tax Annual Amount
    405

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    MARC WEITZ

    Listing agent MARC WEITZ

    Listing office FAIRCLOUGH REALTORS 265 SPARTA, Sparta, NJ

    Listing date Mar 20, 2025

    MLS# 3951973 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.

    Overview

    Sparta Twp. Development Opportunity

    This 0.75-acre property is located in Sparta Twp., NJ, within Sussex County. Situated steps from the post office, supermarket, and other amenities, the land presents a development opportunity in a desirable market. Current plans allow for the construction of 22 condos (55+) as phase 2 of "The Hamlet." Alternatively, the land could be subdivided and redeveloped in a different fashion. The town is open to working with developers to create a meaningful project. Financing options are available.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Pharmacy

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

    Location Insight

    • Map
    • Local Demand
    City
    Sparta
    County
    Sussex
    State
    New Jersey
    Longitude
    -74.63609
    Latitude
    41.03767

    Nearby Similar for Sale

    • $649,000

      Versatile Warehouse/Office Space For Sale

      Flexible industrial unit with warehouse and office space.
      2 Wilson Dr, Sparta Twp., NJ 07871-3490
      View Details
    • $670,000
      1,846 SF

      Downtown Sparta Twp. Office Space

      Handicap accessible office building with detached garage in downtown Sparta.
      27 Main St, Sparta Twp., NJ 07871-1903
      View Details
    • $990,000
      2,262 SF

      Established Bar & Restaurant Opportunity

      Beloved bar and restaurant with expansion potential in Sparta, NJ.
      712 Woodport Rd, Sparta Twp., NJ 07871-3012
      View Details
    • $350,000
      1,200 SF

      Commercial Property in Prime Location

      High-visibility commercial building renovated in 2016, ideal for various businesses.
      151 Woodport Rd, Sparta Twp., NJ 07871-2318
      View Details
    • $79,900

      Residential Land in Prime Location

      Build your dream home on this beautiful piece of land.
      468 W Mountain Rd, Sparta Twp., NJ 07871
      View Details
    • $649,000
      3,276 SF

      Versatile Industrial Unit For Sale

      Flexible warehouse/office space with high ceilings and convenient access.
      2 Wilson Dr, Sparta Twp., NJ 07871
      View Details
    • $799,000

      Residential Land in Sparta Twp.

      9.6 acres of residential land in Sparta and Lafayette.
      236 Demarest Rd, Sparta Twp., NJ 07871-3481
      View Details
    • $350,000

      Commercial Land in Sparta Township

      Prime commercial property in Sparta's Economic Development District.
      304 Houses Corner Rd, Sparta Twp., NJ 07871
      View Details
    • $670,000
      1,846 SF

      Downtown Office with Detached Garage

      Office property in prime downtown location with detached two-car garage.
      27 Main St, Sparta Twp., NJ 07871
      View Details
    • $6,750

      Lake Mohawk Membership Opportunity

      Non-buildable lot with Lake Mohawk Country Club membership potential.
      52 Longview Rd, Sparta Twp., NJ 07871-2031
      View Details
    • $2,950,000
      9,529 SF

      Fully Leased Sparta Office Building

      Income-producing professional and medical office building in established business district.
      1 Wilson Dr, Sparta Twp., NJ 07871
      View Details
    • $695,000

      7.22 Acres Zoned ED

      7.22 acres of land zoned for economic development.
      460 Lafayette Rd, Sparta Twp., NJ 07871
      View Details

    FAQs

    What type of property is this?
    Residential land & home lot - 0.75 acres for development in desirable Sussex County market.
    Where is this residential land & home lot located?
    The property is located at 16 Main St Sparta, NJ.
    What is the asking price?
    The asking price for this property is $495,000.
    What are key features of this property?
    This property features: Prime Development Opportunity: .75 acres in highly desirable Sparta, NJ.; Approved for 22 Condos (55+): Ready for Phase 2 of "The Hamlet" development.; Re‑Development Potential: Opportunity to subdivide and re‑develop the land.
    (973) 726-7800
    We can help!
    Listing Contact
    MARC WEITZ
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!