Prime Mendham Commercial Building For
For Sale
$1,600,000
19 E Main St, Mendham, NJ 07945
Freestanding commercial building in Mendham's vibrant downtown business district.
Property Size5,490 SF
Price / SF$291.44
Days on Market96
Property Features for 19 E Main St
General Information
Standard status
Active
Size
5,490 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$25,222
Amenities
Central air
Additional Parking
Baseboard - Hotwater Heating
Central Air Cooling
Composition Shingle Roof
Off-Street Parking
Parking Lot-Exclusive
Building Details
Year Built
1967
Listing Agency:
COMPASS NEW JERSEY, LLC
(973) 315-8180
Listed By:
COURTNEY ORLANDO
Source:
Corcoran
Added: May 26
Changed: Aug 28
Last Checked: Aug 29 at 6:39AM
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 COMPASS NEW JERSEY, LLC
Investment Insights
Based on property information with market context.
Located at 19 East Main Street in downtown Mendham, this freestanding commercial building offers a rare opportunity for ownership. The property features exceptional exposure and curb appeal on Main Street. The flexible commercial space is suitable for professional offices, boutique retail, medical, wellness, or a variety of service-oriented businesses. Approximately two-thirds of the building is currently leased, providing immediate income for investors. The remaining suite offers an ideal opportunity for an owner-occupant or the ability to generate additional rental income. The flexible layout allows for multiple business uses and provides long-term investment potential. A standout feature is the abundance of parking, including two separate parking lots providing convenient access for employees, clients, and customers. One of the parking lots is partially leased to a neighboring business, creating an additional income stream. The property is situated in the center of Mendham's vibrant downtown business district, surrounded by established businesses, restaurants, and upscale residential neighborhoods. The property size is 5,490 square feet.
Key Highlights
- Prime location in the heart of desirable downtown Mendham with high visibility and exceptional exposure.
- Immediate income from existing leases covering approximately two‑thirds of the building.
- Abundant parking with two separate lots, one partially leased for additional income.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$83,997
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.25%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,679,940
$1.7M
Cap Rate 7%
$1,199,957
$1.2M
Cap Rate 9%
$933,300
$933.3K
Market Conditions
NOI Build-Up for 5,490 SF
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.
Gross rent
$164.7K $30.00/SF
− Vacancy
−$52.7K −$9.60/SF
EGI
$112.0K $20.40/SF
− OpEx
−$28.0K −$5.10/SF
NOI
$84.0K $15.30/SF
Area
Morris 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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,679,940
Cap Rate 7%
$1,199,957
Cap Rate 9%
$933,300
Alternative Uses
Best Use
Office B
$1.20M
$1.05M – $1.40M
NOI $83,997 @ 7.0% cap · market cap 5.25%
Second Best
Retail
$1.12M
$979.5K – $1.31M
NOI $78,360 @ 7.0% cap · market cap 4.90%
Theoretical Best
Office A
$1.43M
$1.25M – $1.67M
NOI $100,348 @ 7.0% cap · market cap 6.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
82
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 07945, NJ
9,875
Population
3,651
Households
2.7
Avg Household Size
46
Median Age
78%
College-Educated
99%
High-School Grad
19.5 sq mi
ZIP Area
506
Density / Sq Mi
$243,665
Median Household Income
$101,620
Median Earnings
$3,432
Median Rent
$894,200
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Storefront property - Freestanding commercial building in Mendham's vibrant downtown business district.
Where is this storefront property located?
The property is located at 19 E Main St Mendham, NJ.
What is the asking price?
The asking price for this property is $1,600,000.
What are key features of this property?
This property features: Prime location in the heart of desirable downtown Mendham with high visibility and exceptional exposure.; Immediate income from existing leases covering approximately two‑thirds of the building.; Abundant parking with two separate lots, one partially leased for additional income.
