Building Details

Year Built 1890

Listing Agency: ERA BONIAKOWSKI REAL ESTATE

Listed By: THOMAS BONIAKOWSKI · License #212020 Show Phone

Source: Corcoran

Added: Jun 11, 2025 Changed: Mar 16 Last Checked: Mar 16 at 9:09AM

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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 ERA BONIAKOWSKI REAL ESTATE

Investment Insights

Based on property information with market context.

This renovated Victorian Colonial in Whitehouse Station offers an exceptional mixed-use investment opportunity. The property is brimming with character and versatility. Currently, both floors are utilized as office space. The main level, originally a kitchen design showroom, is beautifully finished and ADA-compliant. The second floor features a luxurious, state-of-the-art two-bedroom, two-bath apartment with laundry facilities, a private entrance, and attic storage. Extensive renovations include newer cedar siding and a roof on the main house, updated plumbing and electrical systems, a new well, new Anderson windows, dual-zone HVAC systems, custom bathrooms and kitchens, white oak flooring, and a partially finished basement with an additional storage room. A detached two-story barn with four garage bays and second-floor storage is also included. The property offers dual access from both Main Street (Rt. 523) and James Street, and provides plenty of off-street parking. The property size is 2744 square feet. This property delivers endless possibilities for a savvy investment, a prime location for your business, or a unique residence.

Key Highlights

• Fully renovated, mixed‑use Victorian Colonial in the heart of Whitehouse Station, offering versatile investment or business opportunities.
• Luxurious, state‑of‑the‑art two‑bedroom, two‑bath apartment with private entrance, laundry, and attic storage.
• Detached two‑story barn with four garage bays and second‑floor storage.

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$42,197

Cap Rate

5.11%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$843,940 $843.9K

Cap Rate 7%

$602,814 $602.8K

Cap Rate 9%

$468,856 $468.9K

Market Conditions

NOI Build-Up for 2,744 SF

Gross rent

$82.3K $30.00/SF

− Vacancy

−$5.6K −$2.04/SF

EGI

$76.7K $27.96/SF

− OpEx

−$34.5K −$12.58/SF

NOI

$42.2K $15.38/SF

Area

Hunterdon 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 Rate 5%

$843,940

Cap Rate 7%

$602,814

Cap Rate 9%

$468,856

Alternative Uses

Best Use

Apartment 5plus

$602.8K

$527.5K – $703.3K (±1% cap)

NOI $42,197 @ 7.0% cap · market cap 5.11%

Second Best

Office B

$599.8K

$524.8K – $699.7K (±1% cap)

NOI $41,983 @ 7.0% cap · market cap 5.09%

Theoretical Best

Office A

$716.5K

$627.0K – $835.9K (±1% cap)

NOI $50,156 @ 7.0% cap · market cap 6.08%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

One World DMG Corporate Office Kohlmann Blau LLC Hardware & Home Improvement

Suggested Use

Top Pick Real Estate Agency Law Firm Big Box & Wholesale Store Electrical Service Parking Lot & Garage Auto Parts Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

328

Businesses Nearby

Explore this area Business Placement

Demographics for 08889, NJ

9,928

Population

4,449

Households

2.2

Avg Household Size

50

Median Age

61%

College-Educated

98%

High-School Grad

23.1 sq mi

ZIP Area

430

Density / Sq Mi

$147,048

Median Household Income

$78,772

Median Earnings

$1,458

Median Rent

$523,100

Median Home Value

Market

Vacancy Rate% for Office in Northeast region

13.1% 2019

15.4% 2020

17.6% 2021

19.1% 2022

20.2% 2023

20.9% 2024

19.9% 2025

Questions? Ask Rey

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What type of property is this? Where is this mixed-use properties located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Mixed-use property - Fully renovated mixed-use property in Whitehouse Station with endless possibilities.

Where is this mixed-use property located?

The property is located at 131 Main St Whitehouse Station, NJ.

What is the asking price?

The asking price for this property is $825,000.

What are key features of this property?

This property features: Fully renovated, mixed‑use Victorian Colonial in the heart of Whitehouse Station, offering versatile investment or business opportunities.; Luxurious, state‑of‑the‑art two‑bedroom, two‑bath apartment with private entrance, laundry, and attic storage.; Detached two‑story barn with four garage bays and second‑floor storage.