Two-Home Multifamily
For Sale
$749,000
163 W Main St #A & B, Rockaway, NJ 07866
NC zoning designation offers a potential neighborhood-commercial dimension, subject to borough review and applicable approvals.
Property Size2,350 SF
Price / SF$318.72
Days on Market21
Property Features for 163 W Main St #A & B
General Information
Standard status
Active
Size
2,350 SF
Property subtype
Commercial
Zoning
NC
Property Condition
Severity
Repairs Needed
Evidence
in need of updating
Units
Unit Mix
1 x 4BR/2BA, 1 x 2BR
Multifamily Units
2
Building Details
Building Size
2,350 SF
Year Built
1927
Stories
2
Units
2
Listing Agency:
Townsquare Realtors
Listed By:
Susan Zabransky
(973) 983-8001
Source:
Cammarotarealestate
Added: Oct 5
Changed: Oct 22
Last Checked: Oct 22 at 2:19PM
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 Townsquare Realtors
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Investment Insights
Based on property information with market context.
Built in 1927, this 2,350-square-foot multifamily property in Rockaway Borough comprises two residential structures. The front home has four bedrooms and two full bathrooms and needs updating; it also has a new roof and a newer furnace. The rear home includes two bedrooms, a living room, kitchen, and washer and dryer, and is currently tenant occupied.
A three-car garage is presently used by a lawn care specialist. The property also has off-street parking. Its NC zoning designation is a consideration for prospective uses, with zoning, permitted uses, occupancy, rental requirements, and any approvals subject to independent review with the Borough of Rockaway. The property is being sold in its present condition.
A three-car garage is presently used by a lawn care specialist. The property also has off-street parking. Its NC zoning designation is a consideration for prospective uses, with zoning, permitted uses, occupancy, rental requirements, and any approvals subject to independent review with the Borough of Rockaway. The property is being sold in its present condition.
Key Highlights
- Two residential structures totaling 2,350 square feet
- Front home has 4 bedrooms and 2 full baths; updating needed
- Rear home has 2 bedrooms and is tenant occupied
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$36,138
Cap Rate
4.82%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$722,760
$722.8K
Cap Rate 7%
$516,257
$516.3K
Cap Rate 9%
$401,533
$401.5K
Market Conditions
NOI Build-Up for 2,350 SF
Gross rent
$70.5K $30.00/SF
− Vacancy
−$4.8K −$2.04/SF
EGI
$65.7K $27.96/SF
− OpEx
−$29.6K −$12.58/SF
NOI
$36.1K $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 Rate 5%
$722,760
Cap Rate 7%
$516,257
Cap Rate 9%
$401,533
Alternative Uses
Best Use
Apartment 5plus
$516.3K
$451.7K – $602.3K
NOI $36,138 @ 7.0% cap · market cap 4.82%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$613.6K
$536.9K – $715.9K
NOI $42,954 @ 7.0% cap · market cap 5.73%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
21
Businesses Nearby
Explore this area
Business Placement
Demographics for 07866, NJ
22,965
Population
8,863
Households
2.6
Avg Household Size
44
Median Age
50%
College-Educated
97%
High-School Grad
23.0 sq mi
ZIP Area
998
Density / Sq Mi
$123,828
Median Household Income
$70,340
Median Earnings
$1,604
Median Rent
$434,200
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Multifamily property - NC zoning designation offers a potential neighborhood-commercial dimension, subject to borough review and applicable approvals.
Where is this multifamily property located?
The property is located at 163 W Main St #A & B Rockaway, NJ.
What is the asking price?
The asking price for this property is $749,000.
What are key features of this property?
This property features: Two residential structures totaling 2,350 square feet; Front home has 4 bedrooms and 2 full baths; updating needed; Rear home has 2 bedrooms and is tenant occupied
