Mixed-Use Property in
167-169 N Main Street Milltown, NJ 08850
167-169 N Main Street, Milltown, NJ, 08850
$749,000
Pending
For Sale
$749,000
Pending
Mixed-use property with office spaces and residential apartment.
Property Size2,352 SF
Days on Market106
Property Features for 167-169 N Main Street
General Information
- Standard status
- Pending
- Size
- 2,352 SF
- Property subtype
- Commercial
Building Details
- Year Built
- 1963
Listing Agency
KELLER WILLIAMS REALTY WEST MONMOUTH
(732) 536-9010
Listed by
VALENTYNA V LEW · License #1325118
Source
Corcoran
Added: Apr 7 Updated: Jul 10 at 3:54 pm Checked: Jul 20 at 4:04 am
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 KELLER WILLIAMS REALTY WEST MONMOUTH
Investment Insights
Based on property information with market context.
This mixed-use property is located in Milltown and features six office spaces suitable for medical practices, attorneys, accountants, or owner-occupants seeking to operate their own business. The property also includes an updated three-bedroom, two-bath apartment on the upper level, complete with a private balcony. Additional features include basement storage, a laundry area, newer water heaters, and AC units. Parking is available for up to 10 cars in the back. The property has a total size of 2352 square feet and offers income potential.
Key Highlights
- Mixed‑use property with 6 office spaces and a 3‑bedroom apartment.
- Strong income potential from office rentals ($2,500/unit) and apartment.
- Updated 3‑bedroom, 2‑bath apartment with private balcony.
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $70.6k | $30.00 |
| − Vacancy | −$22.6k | −$9.60 |
| EGI | $48.0k | $20.40 |
| − OpEx | −$12.0k | −$5.10 |
| NOI | $36.0k | $15.30 |
2,352 SF · lease $30.00/SF/yr · vacancy 32.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$514.1K
$449.8K – $599.8K
NOI $35,986 @ 7.0% cap · market cap 4.80%
Second Best
Mixed Use
$290.7K
$254.4K – $339.2K
NOI $20,351 @ 7.0% cap · market cap 2.72%
Theoretical Best
Office A
$614.2K
$537.4K – $716.5K
NOI $42,991 @ 7.0% cap · market cap 5.74%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Office Units
Similar For Sale Nearby
FAQs
What type of property is this?
Mixed-use property - Mixed-use property with office spaces and residential apartment.
Where is this mixed-use property located?
The property is located at 167-169 N Main Street Milltown, 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: Mixed‑use property with 6 office spaces and a 3‑bedroom apartment.; Strong income potential from office rentals ($2,500/unit) and apartment.; Updated 3‑bedroom, 2‑bath apartment with **private balcony**.
