Mixed-Use Property with 6
For Sale
$749,000
167 N Main St N Unit 169, Milltown, NJ 08850
Combines multiple office suites with an updated apartment, storage, laundry facilities, and rear parking.
Property Size2,352 SF
Price / SF$318.45
Days on Market48
Property Features for 167 N Main St N Unit 169
General Information
Standard status
Active
Size
2,352 SF
Total Parking Spaces
10
Units
Unit Mix
1 x 3BR/2BA
Multifamily Units
1
Office Units
6
Amenities
private balcony
basement storage
laundry area
Building Details
Year Built
1963
Tenancy
Multi
Listing Agency:
KELLER WILLIAMS WEST MONMOUTH
Listed By:
VALENTYNA LEW · License #1325118
(732) 857-7387
Source:
Luminancerealty
Added: Sep 2
Changed: Oct 13
Last Checked: Oct 19 at 12:25PM
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 WEST MONMOUTH
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Investment Insights
Based on property information with market context.
This mixed-use property combines six office spaces with an updated upstairs apartment containing three bedrooms and two bathrooms. The residential component also includes a private balcony, while the property provides basement storage and a designated laundry area. Newer water heaters and AC units are included among the building improvements.
The rear of the property accommodates parking for 10 cars. Built in 1963, the asset offers both commercial workspace and residential accommodation within one property, with the office configuration suitable for an owner-occupant or multiple professional users.
The rear of the property accommodates parking for 10 cars. Built in 1963, the asset offers both commercial workspace and residential accommodation within one property, with the office configuration suitable for an owner-occupant or multiple professional users.
Key Highlights
- Six office spaces configured for professional use
- Updated upstairs apartment with 3 bedrooms, 2 bathrooms, and a private balcony
- Basement storage and dedicated laundry area
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$36,169
Cap Rate
4.83%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$723,380
$723.4K
Cap Rate 7%
$516,700
$516.7K
Cap Rate 9%
$401,878
$401.9K
Market Conditions
NOI Build-Up for 2,352 SF
Gross rent
$70.6K $30.00/SF
− Vacancy
−$4.8K −$2.04/SF
EGI
$65.8K $27.96/SF
− OpEx
−$29.6K −$12.58/SF
NOI
$36.2K $15.38/SF
Area
Middlesex 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%
$723,380
Cap Rate 7%
$516,700
Cap Rate 9%
$401,878
Alternative Uses
Best Use
Apartment 5plus
$516.7K
$452.1K – $602.8K
NOI $36,169 @ 7.0% cap · market cap 4.83%
Second Best
Office B
$514.1K
$449.8K – $599.8K
NOI $35,986 @ 7.0% cap · market cap 4.80%
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 authorities.
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Property Analytics
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Current Use
Lease Details
6
Office units
1
Residential units
Multi-tenant
Tenancy
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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Market
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Combines multiple office suites with an updated apartment, storage, laundry facilities, and rear parking.
Where is this mixed-use property located?
The property is located at 167 N Main St N Unit 169 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: Six office spaces configured for professional use; Updated upstairs apartment with 3 bedrooms, 2 bathrooms, and a private balcony; Basement storage and dedicated laundry area
