Six-Office Mixed-Use
New
For Sale
$699,000
167 N Main St N 169, Milltown, NJ 08850
Commercial workspaces occupy the lower level, with an updated apartment above and parking at the rear.
Property Size2,352 SF
Days on Market1
Property Features for 167 N Main St N 169
General Information
Standard status
Active
Size
2,352 SF
Total Parking Spaces
10
Property subtype
Commercial
Additional Details
Floor
First Level
Road Access
Yes
Office Units
6
Taxes and HOA fees
Annual Taxes
$13,228
Building Details
Building Size
2,352 SF
Year Built
1963
Stories
2
Units
1
Listing Agency:
Keller Williams Realty East Monmouth
Listed By:
LILLY SHAMAM
(732) 225-3599
Source:
Elliman
Added: Oct 19
Last Checked: Oct 19 at 2:00PM
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 East Monmouth
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Investment Insights
Based on property information with market context.
Built in 1963, this mixed-use property places six professional office spaces on the first floor and a three-bedroom, two-bath apartment on the second. The apartment has updated interiors, living areas, and a private balcony. A full basement, laundry area, newer water heaters and A/C units, and rear parking add practical building features.
The property is on Main Street in Milltown, near local businesses, restaurants, shopping, and major commuter routes. Its combination of office space and residential accommodation supports a range of ownership and occupancy arrangements.
The property is on Main Street in Milltown, near local businesses, restaurants, shopping, and major commuter routes. Its combination of office space and residential accommodation supports a range of ownership and occupancy arrangements.
Key Highlights
- Six professional office spaces on the first floor
- Updated second‑floor apartment with 3 bedrooms, 2 bathrooms, and a private balcony
- Full basement and dedicated laundry area
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$35,986
Cap Rate
5.15%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$719,720
$719.7K
Cap Rate 7%
$514,086
$514.1K
Cap Rate 9%
$399,844
$399.8K
Market Conditions
NOI Build-Up for 2,352 SF
Gross rent
$70.6K $30.00/SF
− Vacancy
−$22.6K −$9.60/SF
EGI
$48.0K $20.40/SF
− OpEx
−$12.0K −$5.10/SF
NOI
$36.0K $15.30/SF
Area
Middlesex County, NJ
Vacancy
32.00%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$719,720
Cap Rate 7%
$514,086
Cap Rate 9%
$399,844
Alternative Uses
Best Use
Office B
$514.1K
$449.8K – $599.8K
NOI $35,986 @ 7.0% cap · market cap 5.15%
Second Best
Mixed Use
$290.7K
$254.4K – $339.2K
NOI $20,351 @ 7.0% cap · market cap 2.91%
Theoretical Best
Office A
$614.2K
$537.4K – $716.5K
NOI $42,991 @ 7.0% cap · market cap 6.15%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
6
Office units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
552
Businesses Nearby
Explore this area
Business Placement
Demographics for 08850, NJ
8,325
Population
3,165
Households
2.6
Avg Household Size
42
Median Age
46%
College-Educated
96%
High-School Grad
2.3 sq mi
ZIP Area
3,620
Density / Sq Mi
$127,331
Median Household Income
$60,938
Median Earnings
$1,520
Median Rent
$436,600
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Commercial workspaces occupy the lower level, with an updated apartment above and parking at the rear.
Where is this mixed-use property located?
The property is located at 167 N Main St N 169 Milltown, NJ.
What is the asking price?
The asking price for this property is $699,000.
What are key features of this property?
This property features: Six professional office spaces on the first floor; Updated second‑floor apartment with 3 bedrooms, 2 bathrooms, and a private balcony; Full basement and dedicated laundry area
