Triplex with On-Site
For Sale
$1,100,000
126 Wilson St, Boonton, NJ 07005
Multi-Family, 2-Two Story, Triplex, Boonton Town, NJ
Property Size2,896 SF
Lot Size0.21 Acres
Price / SF$379.83
Days on Market40
Property Features for 126 Wilson St
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Zoning
R-3A
Bedrooms
6
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 1, Bathroom 2, Bedroom 2, Bathroom 1, Basement, Bathroom 3, Bathroom 4, Bedroom 6, Bedroom 4, Bedroom 3, Bedroom 5
Parking
7
Patio and Porch features
Patio, Porch
Interior features
Carbon Monoxide Detector, Cedar Closets, Fire Extinguisher, Smoke Detector, Tile Floors, Vinyl-Linoleum Floors, Walk-In Closet, Wood Floors
Exterior features
Curbs, Enclosed Porch(es), Partially Fenced, Patio, Sidewalk, Storage Shed, Storm Door(s), Storm Window(s), Thermal Windows/Doors
Fencing
Partial
Subdivision
Flats
Lot features
Level Lot
Elementary school
School St.
Middle school
John Hill
High school
Boonton
Directions
Vreeland Avenue to Park Avenue or Lathrop Avenue to Wilson Street
Standard status
Active
Size
2,896 SF
Lot size
0.21 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
13936
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Baseboard, Hot Water(Heating)
Water source
Public
Building Details
Year built
1915
Floors in Building
2
Number of units
3
Roof type
Shingle
Architectural style
Other
Additional Structures
Storage
Listing Agency:
KELLER WILLIAMS PROSPERITY REALTY · Keller Williams Realty
(973) 696-0077
Listed By:
ROBERT E GANNON
(908) 867-2050
Added: Aug 12
Changed: Sep 15
Last Checked: Sep 20 at 11:06AM
MLS# 4046441
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.
Investment Insights
Based on property information with market context.
Located at 126 Wilson St in Boonton Town, this three-unit property contains 2896 square feet and was built in 1915. The arrangement includes a larger residence with three to four bedrooms, a second unit with a finished basement and additional living areas, and an upper apartment with a bedroom, living room, kitchen, bath, and walk-up attic storage.
The property includes separate utilities for each unit, public water, public sewer, baseboard and hot-water heating, and on-site parking for 7 cars. Unit 128A and Unit 128B have newer heating and hot-water systems. Additional features include laundry rooms, storage areas, wood and tile flooring, enclosed porch space, a patio, a storage shed, partial fencing, and thermal windows and doors. The property is zoned R-3A and is near downtown Boonton's shops, dining, and NJ Transit station.
The property includes separate utilities for each unit, public water, public sewer, baseboard and hot-water heating, and on-site parking for 7 cars. Unit 128A and Unit 128B have newer heating and hot-water systems. Additional features include laundry rooms, storage areas, wood and tile flooring, enclosed porch space, a patio, a storage shed, partial fencing, and thermal windows and doors. The property is zoned R-3A and is near downtown Boonton's shops, dining, and NJ Transit station.
Key Highlights
- Three‑unit triplex at 126 Wilson St, Boonton Town, NJ 07005‑2235
- 2896 square feet on a 0.21‑acre lot
- Separate utilities serving all units
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
$48,468
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
4.41%
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%
$969,360
$969.4K
Cap Rate 7%
$692,400
$692.4K
Cap Rate 9%
$538,533
$538.5K
Market Conditions
NOI Build-Up for 2,896 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
$74.0K $25.56/SF
− Vacancy
−$4.8K −$1.65/SF
EGI
$69.2K $23.91/SF
− OpEx
−$20.8K −$7.17/SF
NOI
$48.5K $16.74/SF
Area
Morris County, NJ
Vacancy
6.46%
Lease Rate
$25.56 /SF/Yr
Expense Ratio
30.00%
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%
$969,360
Cap Rate 7%
$692,400
Cap Rate 9%
$538,533
Alternative Uses
Best Use
Multifamily LT 5
$692.4K
$605.9K – $807.8K
NOI $48,468 @ 7.0% cap · market cap 4.41%
Second Best
Apartment 5plus
$636.2K
$556.7K – $742.3K
NOI $44,535 @ 7.0% cap · market cap 4.05%
Theoretical Best
Office A
$756.2K
$661.7K – $882.2K
NOI $52,934 @ 7.0% cap · market cap 4.81%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
790
Businesses Nearby
Explore this area
Business Placement
Demographics for 07005, NJ
15,985
Population
6,115
Households
2.6
Avg Household Size
43
Median Age
56%
College-Educated
96%
High-School Grad
18.3 sq mi
ZIP Area
873
Density / Sq Mi
$126,411
Median Household Income
$66,198
Median Earnings
$1,779
Median Rent
$565,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Triplex - Three separately serviced units offer varied layouts, storage, laundry areas, and newer heating and hot-water systems in two apartments.
Where is this triplex located?
The property is located at 126 Wilson St Boonton, NJ.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: Three‑unit triplex at 126 Wilson St, Boonton Town, NJ 07005‑2235; 2896 square feet on a 0.21‑acre lot; Separate utilities serving all units
