Renovated Mixed-Use
New
For Sale
$899,000
310 Main St, Boonton, NJ 07005
Commercial space and two apartments combine within a maintained, flexible-use property near downtown amenities and transit.
Property Size4,232 SF
Days on Market6
Property Features for 310 Main St
General Information
Standard status
Active
Size
4,232 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$14,628
Building Details
Building Size
4,232 SF
Year Built
1920
Stories
3
Units
4
Listing Agency:
COMPASS NEW JERSEY, LLC
(973) 315-8180
Listed By:
MARY C. MENARD
Source:
Elliman
Added: Aug 26
Changed: Aug 28
Last Checked: Aug 30 at 7:32PM
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 COMPASS NEW JERSEY, LLC
Investment Insights
Based on property information with market context.
Renovated in 2007, this 4,200-square-foot mixed-use building combines commercial and residential components. The first floor contains a 1,300-square-foot office with hardwood flooring and two potential suite layouts, each with a half bath. A separate 1,500-square-foot lower-level workspace includes high ceilings, large windows, a full bath, and a kitchenette.
The upper level provides two apartments: a 650-square-foot one-bedroom and a 750-square-foot two-bedroom. Both feature hardwood floors, full baths, and hookups for in-unit laundry. The property is located at 310 Main St in Boonton Town, near local boutiques, restaurants, NJ Transit, and access to Routes 80 and 287.
The upper level provides two apartments: a 650-square-foot one-bedroom and a 750-square-foot two-bedroom. Both feature hardwood floors, full baths, and hookups for in-unit laundry. The property is located at 310 Main St in Boonton Town, near local boutiques, restaurants, NJ Transit, and access to Routes 80 and 287.
Key Highlights
- 4,200‑square‑foot mixed‑use building at 310 Main St, Boonton Town, NJ 07005
- Renovated in 2007
- 1,300‑square‑foot first‑floor office with potential for two suites
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
$65,080
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
7.24%
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%
$1,301,600
$1.3M
Cap Rate 7%
$929,714
$929.7K
Cap Rate 9%
$723,111
$723.1K
Market Conditions
NOI Build-Up for 4,232 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
$127.0K $30.00/SF
− Vacancy
−$8.6K −$2.04/SF
EGI
$118.3K $27.96/SF
− OpEx
−$53.2K −$12.58/SF
NOI
$65.1K $15.38/SF
Area
Morris 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%
$1,301,600
Cap Rate 7%
$929,714
Cap Rate 9%
$723,111
Alternative Uses
Best Use
Apartment 5plus
$929.7K
$813.5K – $1.08M
NOI $65,080 @ 7.0% cap · market cap 7.24%
Second Best
Office B
$925.0K
$809.4K – $1.08M
NOI $64,750 @ 7.0% cap · market cap 7.20%
Theoretical Best
Office A
$1.11M
$966.9K – $1.29M
NOI $77,354 @ 7.0% cap · market cap 8.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
62
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
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Commercial space and two apartments combine within a maintained, flexible-use property near downtown amenities and transit.
Where is this mixed-use property located?
The property is located at 310 Main St Boonton, NJ.
What is the asking price?
The asking price for this property is $899,000.
What are key features of this property?
This property features: 4,200‑square‑foot mixed‑use building at 310 Main St, Boonton Town, NJ 07005; Renovated in 2007; 1,300‑square‑foot first‑floor office with potential for two suites
