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

    85 Mill St Newton, NJ 07860

    View on Map
    For Sale
    $1,900,000

    Commercial - Newton Town, NJ

    Property size:
    9,999 SF
    Lot size:
    1.80 Acres
    Added:
    Feb 20, 2026
    Days on Market:
    42
    Last Refresh:
    Apr 3 at 5:06 am

    Property Features for 85 Mill St

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    T-4
    Rooms
    Basement
    Basement Y/N
    1
    Standard status
    Active
    Size
    9,999 SF
    Lot size
    1.80 Acres

    Utilities

    Heating system
    Baseboard, Hot Water (Heating)
    Cooling system
    Central Air

    Building Details

    Year built
    1940
    Floors in Building
    1
    Number of units
    1
    Building materials
    Concrete
    Roof type
    Flat
    Architectural style
    Other

    We can help!

    Listing Contact
    BRIAN WEATHERWALKS

    Listing agent BRIAN WEATHERWALKS

    Listing office REALTY EXECUTIVES EXCEPTIONAL 54 WOODPORT ROAD, Fairfield, NJ

    Listing date Feb 20, 2026

    MLS# 4010894 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

    Newton VFW Commercial Opportunity

    The property, currently home to the Newton VFW, presents a unique commercial opportunity. Situated on a 1.8-acre lot, the property is zoned T-4, allowing for various mixed-use purposes. The site includes multiple outbuildings and features 100 parking spots. This property may be of interest to investors or developers.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Specialty properties

    Suggested Use

    Real Estate Agency Restaurant Law Firm 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
    Newton
    County
    Sussex
    State
    New Jersey
    Longitude
    -74.7549043
    Latitude
    41.0639108

    Nearby Similar for Sale

    • $380,000
      4,096 SF

      Renovated Office Building in Newton

      Newly renovated office building with flexible configuration options and excellent visibility.
      11 High St, Newton Town, NJ 07860-1752
      View Details
    • $1,100,000
      6,267 SF

      Four-Unit Condo Complex For Sale

      Four-unit condo complex suited for medical or professional office use.
      280 Newton Sparta Rd, Andover Twp., NJ 07860-2775
      View Details
    • $399,000

      Multi-Unit Property with Storefront Potential

      Two-unit property with storefront option in Stillwater Twp., NJ.
      917 Main St, Stillwater Twp., NJ 07860
      View Details
    • $475,000

      Two-Family Home Near Downtown Newton

      Well-kept two-family home near downtown Newton, great investment opportunity.
      88 Trinity St, Newton Town, NJ 07860-2220
      View Details
    • $654,900
      3,794 SF

      Upgraded Brick Building in Newton

      Three-story building in Newton Town with flexible use options.
      14 Church St, Newton Town, NJ 07860-1715
      View Details
    • $600,000
      5,767 SF

      Downtown Newton Redevelopment Opportunity

      Prime commercial building for rehabilitation in thriving downtown Newton.
      132 Spring St, Newton Town, NJ 07860-2009
      View Details
    • $728,000

      Mixed-Use Property with Rental Income

      Mixed-use property featuring a country store, apartment, and rental units.
      735 State Route 94, Frelinghuysen Twp., NJ 07860
      View Details
    • $375,000
      1,800 SF

      Newton Duplex with Income Potential

      Two-unit duplex near downtown Newton with tenant-paid utilities.
      36 Mount View St, Newton Town, NJ 07860
      View Details
    • $475,000

      Well-Kept Two-Family Home

      Two-family home near downtown Newton with separate utilities.
      88 Trinity St, Newton, NJ 07860-2220
      View Details
    • Contact for pricing
      1,990 SF

      Former Bank Branch For Sale

      1,990 SF former bank branch on a .22 acre lot.
      197 Main Street, Newton, NJ, 07860
      View Details
    • $185,000
      8,000 SF

      Commercial Building with Storage Rentals

      Stand-alone building with garage bays and storage rentals.
      291 Spring St, Newton, NJ
      View Details

    FAQs

    What type of property is this?
    Specialty property - 1.8 acre lot with mixed-use potential in Newton Town.
    Where is this specialty property located?
    The property is located at 85 Mill St Newton, 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: 1.8 Acre Lot in T‑4 Zone; Ideal for Mixed‑Use Purposes; Features 100 Parking Spots
    (973) 575-6700
    We can help!
    Listing Contact
    BRIAN WEATHERWALKS
    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!