Building Details

Year Built 1967

Listing Agency: COMPASS NEW JERSEY, LLC

Listed By: COURTNEY ORLANDO Show Phone

Source: Luminancerealty

Added: May 27 Changed: Oct 2 Last Checked: Oct 5 at 9:55PM

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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 / Yr

$83,997

Cap Rate

5.25%

Suggested Prices Based on Cap Rates

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

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 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 (±1% cap)

NOI $83,997 @ 7.0% cap · market cap 5.25%

Second Best

Retail

$1.12M

$979.5K – $1.31M (±1% cap)

NOI $78,360 @ 7.0% cap · market cap 4.90%

Theoretical Best

Office A

$1.43M

$1.25M – $1.67M (±1% cap)

NOI $100,348 @ 7.0% cap · market cap 6.27%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Mendham Medical Group Medical Clinic Audrey I Prefer, ... Physician Gregg Marella, MD, ... Physician Luciana Skin Care Alternative Medicine Practice

Suggested Use

Top Pick Restaurant Auto Repair Shop Auto Parts Store Hair Salon Spa & Massage Center Nail Salon

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

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

13.1% 2019

15.4% 2020

17.6% 2021

19.1% 2022

20.2% 2023

20.9% 2024

19.9% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this storefront properties located? What is the asking price? Find similar properties What are key features of this property?

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.