Mixed-Use Property with
For Sale
$1,175,000
Pending
847 Hamilton Street, Franklin, NJ 08873
Multi-Family, Franklin, NJ
Property Size3,360 SF
Lot Size0.11 Acres
Days on Market124
Property Features for 847 Hamilton Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning description
Mixed
Bedrooms
5
Bathrooms
5
Full bathrooms
5
Rooms
Bedroom 5, Bathroom 2, Bedroom 2, Bathroom 5, Bathroom 1, Bedroom 3, Bedroom 1, Bathroom 3, Bathroom 4, Bedroom 4, Basement
Basement
Full
Middle school
Sampson G. Smith
High school
Franklin
Directions
Franklin Rd to Hamilton Ave
Standard status
Pending
APN
08-00230-0000-00009
Size
3,360 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
9844
Utilities
Sewer type
Public Sewer
Cooling system
Central Air
Water source
Public
Building Details
Floors in Building
2
Number of units
5
Building materials
Brick
Roof type
Shingle
Listing Agency:
Real Broker, LLC- Fairfield
(855) 450-0442
Listed By:
John Natale · License #278939
(855) 450-0442
Added: Apr 24
Changed: Aug 20
Last Checked: Aug 25 at 4:06AM
MLS# 22611540
Copyright © 2026 More MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This mixed-use property contains three residential apartments and two commercial store units within a 3,360-square-foot building on 0.11 acres. The structure is constructed of brick and includes central air conditioning, a shingle roof, and a basement. The configuration brings residential and commercial components together in one asset.
Located at 847 Hamilton Street in Franklin, New Jersey, the property is served by public water and public sewer. Its five total bathrooms and five listed bedrooms support the residential portion, while the commercial units provide separate space for storefront-oriented operations.
Located at 847 Hamilton Street in Franklin, New Jersey, the property is served by public water and public sewer. Its five total bathrooms and five listed bedrooms support the residential portion, while the commercial units provide separate space for storefront-oriented operations.
Key Highlights
- Three residential apartments within the property
- Two commercial store units
- 3,360 square feet on 0.11 acres
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$51,670
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.40%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,033,400
$1.0M
Cap Rate 7%
$738,143
$738.1K
Cap Rate 9%
$574,111
$574.1K
Market Conditions
NOI Build-Up for 3,360 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$100.8K $30.00/SF
− Vacancy
−$6.9K −$2.04/SF
EGI
$93.9K $27.96/SF
− OpEx
−$42.3K −$12.58/SF
NOI
$51.7K $15.38/SF
Area
Sussex County, NJ
Vacancy
6.80%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,033,400
Cap Rate 7%
$738,143
Cap Rate 9%
$574,111
Alternative Uses
Best Use
Apartment 5plus
$738.1K
$645.9K – $861.2K
NOI $51,670 @ 7.0% cap · market cap 4.40%
Second Best
Retail
$685.1K
$599.5K – $799.3K
NOI $47,958 @ 7.0% cap · market cap 4.08%
Theoretical Best
Office A
$877.4K
$767.7K – $1.02M
NOI $61,415 @ 7.0% cap · market cap 5.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
643
Businesses Nearby
Explore this area
Business Placement
Demographics for 08873, NJ
55,500
Population
22,142
Households
2.5
Avg Household Size
42
Median Age
54%
College-Educated
93%
High-School Grad
32.1 sq mi
ZIP Area
1,729
Density / Sq Mi
$117,866
Median Household Income
$61,727
Median Earnings
$1,942
Median Rent
$438,600
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Brick building combines residential apartments with commercial storefront space and on-site basement area.
Where is this mixed-use property located?
The property is located at 847 Hamilton Street Franklin, NJ.
What is the asking price?
The asking price for this property is $1,175,000.
What are key features of this property?
This property features: Three residential apartments within the property; Two commercial store units; 3,360 square feet on 0.11 acres
