Corner Lot Commercial
For Sale
$430,000
2 Main St, Netcong, NJ 07857
Highly visible commercial property in commuter-friendly Morris County borough.
Property Size1,492 SF
Lot Size0.25 Acres
Price / SF$288.20
Days on Market202
Property Features for 2 Main St
General Information
Standard status
Active
Size
1,492 SF
Lot size
0.25 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$7,163
Amenities
Central air
2 Units Cooling
2 Units Heating
Central Air Cooling
Corner
Flat Roof
Level Lot
Off-Street Parking
Building Details
Year Built
1942
Listing Agency:
REALTY EXECUTIVES EXCEPTIONAL
(973) 347-3700
Listed By:
STACEY MICHELMAN
Source:
Corcoran
Added: Jan 23
Changed: Aug 13
Last Checked: Aug 13 at 7:33AM
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 REALTY EXECUTIVES EXCEPTIONAL
Investment Insights
Based on property information with market context.
This highly-visible corner lot commercial property is located directly on Main Street. Originally constructed in 1942, the building offers the character and presence of a classic Main Street structure. The property benefits from strong visibility, a walkable downtown environment, and proximity to major transportation routes. The property's location and zoning create a versatile foundation for long-term value, making it suitable for a wide range of commercial uses, including retail, professional office, or service-oriented business. The property is accessible from I80, Route 46 and Netcong Train Station. The building has a size of 1492 square feet and is located in Netcong Boro, NJ.
Key Highlights
- Highly visible corner lot on Main Street.
- Located in a commuter‑friendly borough with easy access to major transportation routes (I80, Route 46, Netcong Train Station).
- Versatile zoning suitable for retail, office, or service‑oriented businesses.
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
$21,296
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
4.95%
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%
$425,920
$425.9K
Cap Rate 7%
$304,229
$304.2K
Cap Rate 9%
$236,622
$236.6K
Market Conditions
NOI Build-Up for 1,492 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
$32.2K $21.60/SF
− Vacancy
−$1.8K −$1.21/SF
EGI
$30.4K $20.39/SF
− OpEx
−$9.1K −$6.12/SF
NOI
$21.3K $14.27/SF
Area
Morris County, NJ
Vacancy
5.60%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
30.00%
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%
$425,920
Cap Rate 7%
$304,229
Cap Rate 9%
$236,622
Alternative Uses
Best Use
Retail
$304.2K
$266.2K – $354.9K
NOI $21,296 @ 7.0% cap · market cap 4.95%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$389.6K
$340.9K – $454.5K
NOI $27,271 @ 7.0% cap · market cap 6.34%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
353
Businesses Nearby
48k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 62%
Dining 35%
Hotels & Casinos 3%
Chili's Grill & Bar
Dining
16,206 visits/mo
0.4 miles
Dollar Tree
Shops & Services
14,360 visits/mo
0.4 miles
Shell
Shops & Services
13,259 visits/mo
0.3 miles
Firestone Complete Auto Care
Shops & Services
1,683 visits/mo
0.2 miles
Extended Stay America - Mt. Olive - Budd Lake
Hotels & Casinos
1,383 visits/mo
0.4 miles
Demographics for 07857, NJ
3,397
Population
1,973
Households
1.7
Avg Household Size
41
Median Age
39%
College-Educated
94%
High-School Grad
1.0 sq mi
ZIP Area
3,397
Density / Sq Mi
$92,596
Median Household Income
$60,578
Median Earnings
$1,396
Median Rent
$344,300
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Similar Off Market Nearby
- Netcong Village Florist — 49 Main St, Netcong, NJ 07857
Frequently Asked Questions
What type of property is this?
Storefront property - Highly visible commercial property in commuter-friendly Morris County borough.
Where is this storefront property located?
The property is located at 2 Main St Netcong, NJ.
What is the asking price?
The asking price for this property is $430,000.
What are key features of this property?
This property features: Highly visible corner lot on Main Street.; Located in a commuter‑friendly borough with easy access to major transportation routes (I80, Route 46, Netcong Train Station).; Versatile zoning suitable for retail, office, or service‑oriented businesses.
