Main Street Corner
For Sale
Contact for pricing
560 Main St, Chatham, NJ
Premier location with redevelopment potential in Chatham Borough.
Property Size6,600 SF
Lot Size0.38 Acres
Price / SF$272.73
Days on Market548
Property Features for 560 Main St
General Information
Standard status
Active
Size
6,600 SF
Lot size
0.38 Acres
Property subtype
OFFICE
Listing Agency:
Newmark & Associates, Inc.
(973) 884-4444
Listed By:
Helene Elbaum
(201) 320-3430
Source:
Moodyscre
Added: Apr 30, 2025
Changed: Oct 26
Last Checked: Oct 28 at 9:27AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Newmark & Associates, Inc.
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This property is located in a premier location on Main Street in Chatham Borough. Situated on a .38 acre corner lot, the building features new windows, HVAC, and a hot water heater. The B-1 zoning allows for office, retail, childcare, and medical uses. Monument signage is available. On-site parking is provided, in addition to street parking. The property offers potential for redevelopment with a residential component. It is located within walking distance to shopping and restaurants and near major highways. A tax appeal was granted in 2024, resulting in a $21,000 per year reduction. The property is suitable for a user or investor with potential rental income. The building size is 6,600 square feet.
Key Highlights
- 2024 Tax appeal GRANTED, saving $21K per year
- Premier Main Street Chatham Borough location
- B‑1 Zoning allows for office, retail, childcare, and medical uses
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$100,980
Cap Rate
5.61%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,019,600
$2.0M
Cap Rate 7%
$1,442,571
$1.4M
Cap Rate 9%
$1,122,000
$1.1M
Market Conditions
NOI Build-Up for 6,600 SF
Gross rent
$198.0K $30.00/SF
− Vacancy
−$63.4K −$9.60/SF
EGI
$134.6K $20.40/SF
− OpEx
−$33.7K −$5.10/SF
NOI
$101.0K $15.30/SF
Area
Morris County, NJ
Vacancy
32.00%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,019,600
Cap Rate 7%
$1,442,571
Cap Rate 9%
$1,122,000
Alternative Uses
Best Use
Office B
$1.44M
$1.26M – $1.68M
NOI $100,980 @ 7.0% cap · market cap 5.61%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.72M
$1.51M – $2.01M
NOI $120,637 @ 7.0% cap · market cap 6.70%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
746
Businesses Nearby
Explore this area
Business Placement
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Office building - Premier location with redevelopment potential in Chatham Borough.
Where is this office building located?
The property is located at 560 Main St Chatham, NJ.
What is the asking price?
The asking price for this property is $1,799,999.
What are key features of this property?
This property features: 2024 Tax appeal GRANTED, saving $21K per year; Premier Main Street Chatham Borough location; B‑1 Zoning allows for office, retail, childcare, and medical uses
