Mixed-Use Building with
175 N Main St Wharton, NJ 07885
175 N Main St, Wharton, NJ, 07885
$2,800,000
For Sale
$2,800,000
20,000 SF mixed-use building with restaurant and office spaces.
Property Size20,000 SF
Lot Size1.51 Acres
Price / SF$140
Days on Market112
Property Features for 175 N Main St
General Information
- Standard status
- Active
- Size
- 20,000 SF
- Lot size
- 1.51 Acres
- Property subtype
- Commercial
Building Details
- Year Built
- 1885
Listing Agency
KL SOTHEBY'S INT'L. REALTY
(908) 719-2500
Listed by
LIDIA S. GABINELLI
Source
Corcoran
Added: Mar 27 Checked: Jul 16 at 6:40 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 KL SOTHEBY'S INT'L. REALTY
Investment Insights
Based on property information with market context.
This 20,000 square foot brick building, constructed in 1885, is situated on 1.51 acres. The mixed-use property includes office spaces and a restaurant, Norte175, which has a liquor license and a security sprinkler system. The building, formerly a silk mill, is located on Washington Forge Pond with a dam running alongside it. Office spaces range from 250 to 4500 square feet. Current tenants include architects, a photography studio, an art studio, an engineering group, a training group, psychologists, and a religious group. The building features 14-foot ceilings and column spacing from 15 to 25 inches, as well as brick walls. The second level has the potential to be converted into residential rentals or condos. There is an easement for a decommissioned water tower licensed for cellular antennas. The property is located close to Route 80, Route 46, and Route 15, and is near the Dover and Mt. Arlington Train Stations and NYC Buses. There are 50 surface parking spaces available.
Key Highlights
- Mixed‑use 20,000 sq ft brick building on 1.51 acres with office and restaurant spaces.
- Includes a liquor license currently used by the restaurant (Norte175).
- Potential for residential conversion (rentals or condos) on the 2nd level.
Local Financial Insights For Mixed Use
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 | $268.8k | $13.44 |
| − Vacancy | −$33.9k | −$1.69 |
| EGI | $234.9k | $11.75 |
| − OpEx | −$88.1k | −$4.40 |
| NOI | $146.8k | $7.34 |
20,000 SF · lease $13.44/SF/yr · vacancy 12.60% · expense 37.50%
Alternative Uses
Best Use
Office B
$4.37M
$3.83M – $5.10M
NOI $306,000 @ 7.0% cap · market cap 10.93%
Second Best
Mixed Use
$2.10M
$1.84M – $2.45M
NOI $146,832 @ 7.0% cap · market cap 5.24%
Theoretical Best
Office A
$5.22M
$4.57M – $6.09M
NOI $365,568 @ 7.0% cap · market cap 13.06%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
IronCut Fitness
Gym & Fitness Center
Peraton
Corporate Office
CJ Steakhouse
Restaurant
DHPC Technologies, Inc
Corporate Office
Bainbridge Counseling Services
Crisis Center
Similar For Sale Nearby
FAQs
What type of property is this?
Mixed-use property - 20,000 SF mixed-use building with restaurant and office spaces.
Where is this mixed-use property located?
The property is located at 175 N Main St Wharton, NJ.
What is the asking price?
The asking price for this property is $2,800,000.
What are key features of this property?
This property features: Mixed‑use 20,000 sq ft brick building on 1.51 acres with office and restaurant spaces.; Includes a liquor license currently used by the restaurant (Norte175).; Potential for residential conversion (rentals or condos) on the 2nd level.
