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    281 S Main St Wharton, NJ 07885

    For Sale
    $1,900,000

    Commercial - Wharton Boro, NJ

    Lot size:
    0.09 Acres
    Days on Market:
    124
    Last Refresh:
    Dec 13 at 1:06 pm

    Property Features for 281 S Main St

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    Zoning
    B
    Rooms
    Basement
    Basement Y/N
    1
    Lot size
    0.09 Acres

    Utilities

    Heating system
    Other (Heating), Steam

    Building Details

    Floors in Building
    3
    Number of units
    6
    Building materials
    Vinyl Siding
    Roof type
    Asphalt, Flat, Shingle
    Architectural style
    Other

    UNITED REAL ESTATE (888) 501-6953 [email protected]

    Listing agent EFRAIN GONZALEZ (888) 501-6953

    Listing date Aug 12, 2025

    MLS# 3980709 Listing URL

    Copyright © 2025 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

    High-Income Multifamily Investment Property

    This six-unit multifamily building is a high-performing asset located in downtown Wharton, New Jersey. The property is fully rented and generates six figures in annual income. The building features a mix of one to three-bedroom units, along with six private garages. A stand-up attic is ready to be converted into additional living space. The full basement can be transformed into a laundry facility, tenant storage, or a shared community area. The property includes a large, open lot with expansion possibilities. The property is positioned within walking distance of local restaurants, shops, and daily conveniences, and is just minutes from top-rated Wharton schools. It is also close to major highways, offering seamless access for commuters. Five newer water heaters were installed in 2023, and a newer boiler was installed in 2020. The property is located in one of Morris County's most competitive rental markets, where vacancies are rare and rental rates remain top-tier. The lot size is 0.09 acres. The property is zoned B.
    Property Profile Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Wharton
    County
    Morris
    State
    New Jersey
    Longitude
    -74.58015
    Latitude
    40.88946

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    FAQs

    What type of property is this?
    Apartment building - Six-unit multifamily property with garages in downtown Wharton, New Jersey.
    Where is this apartment building located?
    The property is located at 281 S Main St Wharton, NJ.
    What is the asking price?
    The asking price for this property is $1,900,000.
    What are key features of this property?
    This property features: - High Income: Generates six figures annually with a strong return from day one.; - Fully Rented: 100% occupancy in a competitive rental market.; - 6 Private Garages: Adds convenience and extra income potential.
    (888) 501-6953
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    Realmo Value Estimation

    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.

    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.

    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
    281 S Main St Wharton, NJ 07885
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