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    175 N Main St Wharton, NJ 07885

    View on Map
    Sponsored
    For Sale
    $2,800,000

    Commercial - Wharton Boro, NJ

    Property size:
    20,000 SF
    Lot size:
    1.51 Acres
    Days on Market:
    3
    Last Refresh:
    Mar 28 at 7:06 pm

    Property Features for 175 N Main St

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    Zoning
    CBD & Res
    Rooms
    Basement
    Parking features
    Parking Lot
    Basement Y/N
    1
    Size
    20,000 SF
    Lot size
    1.51 Acres

    Utilities

    Heating system
    Electric (Heating), Forced Air
    Cooling system
    Central Air, Ductless, Electric, Multi Units

    Building Details

    Year built
    1885
    Floors in Building
    2
    Number of units
    13
    Flooring type
    Carpet, Concrete, Tile, Wood
    Building materials
    Block, Brick
    Roof type
    Asphalt, Shingle
    Architectural style
    Other

    We can help!

    Listing Contact
    Lidia S. Gabinelli

    Kienlen Lattmann Sotheby's International Realty

    Listing agent LIDIA S. GABINELLI

    Listing date Mar 26, 2026

    MLS# 4017047 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

    Mixed-Use Building with Liquor License

    This 20,000 square foot brick building, situated on 1.51 acres, presents an investment opportunity. The mixed-use property includes office spaces and a restaurant, complete with a liquor license. Originally constructed in 1885 as a silk mill, the building is located on Washington Forge Pond, featuring a dam alongside the structure. Office spaces range from 250 to 4500 square feet. Existing tenants include architects, a photography studio, an art studio, an engineering group, a training group, psychologists, and a religious group. The building incorporates 14-foot ceilings, column spacing from 15 to 25 inches, and exposed brick walls. The second level has the potential to be converted into residential rentals or condos. An easement exists for a decommissioned water tower licensed for cellular antennas. The property includes 50 surface parking spaces and is located near Route 80, Route 46, and Route 15, with proximity to the Dover and Mt. Arlington Train Stations and NYC Buses. The restaurant has a security and sprinkler system. The zoning is CBD & Res.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    IronCut Fitness Gym & Fitness Center Peraton Corporate Office CJ Steakhouse Restaurant DHPC Technologies, Inc Corporate Office Bainbridge Counseling Services Crisis Center

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Wharton
    County
    Morris
    State
    New Jersey
    Longitude
    -74.57793
    Latitude
    40.90392

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    • Contact for pricing
      1,296 SF

      Main Street Mixed-Use Property

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    FAQs

    What type of property is this?
    Mixed-use property - 20,000 sq ft mixed-use building with restaurant and offices.
    Where is this mixed-use property located?
    The property is located at 175 N Main St Wharton, NJ.
    What is the asking price?
    The asking price for this property is $2,800,000.
    What are key features of this property?
    This property features: - 20,000 sq ft brick building on 1.51 acres with mixed-use zoning.; - Includes a liquor license currently used by the restaurant.; - **Potential for residential conversion (rentals or condos) on the 2nd level.**
    (908) 719-2500
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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
    175 N Main St Wharton, NJ 07885
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    Lidia S. Gabinelli
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