Apartment Unit with Private
20 Main St # 3, Millburn, NJ 07041
For Sale
New
Contact for pricing
Two private balconies overlook downtown Millburn, with shared laundry available in the building.
Property Size850 SF
Price / SF$3.18
Days on Market2
Property Features for 20 Main St # 3
General Information
Standard status
Size
Property subtype
Additional Details
Public Transit
Multifamily Units
Amenities
hardwood floors
granite counters
dishwasher
central heat and air
shared laundry
private balconies
Tile,Wood
Electric,Gas-Natural
Breakfast Bar
2
In Building
Carbon Monoxide Detector,Fire Alarm Sys,Shades,Smoke Detector
City/Town Street
Public Water
50X100
0.11
Deck
Building Details
Year Built
Listing Agency:
(551) 239-8040
Listed By:
Reisha Baker
Source:
Skyrealtyintl
Added: Nov 8
Last Checked: Nov 9 at 10:06AM
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 Reisha Baker
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This apartment in Millburn includes hardwood floors, granite countertops, a dishwasher, and central heating and air conditioning. Two private balconies face downtown, and laundry is shared by three tenants in the building. The property was built in 2003.
The apartment is in downtown Millburn, within walking distance of local amenities and one block from the NJ Transit Midtown Direct train line to New York City.
The apartment is in downtown Millburn, within walking distance of local amenities and one block from the NJ Transit Midtown Direct train line to New York City.
Key Highlights
- Two private balconies overlooking downtown Millburn
- Hardwood floors, granite countertops, and a dishwasher
- Central heating and air conditioning
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$13,071
Suggested Prices Based on Cap Rates
Cap Rate 5%
$261,420
$261.4K
Cap Rate 7%
$186,729
$186.7K
Cap Rate 9%
$145,233
$145.2K
Market Conditions
NOI Build-Up for 850 SF
Gross rent
$25.5K $30.00/SF
− Vacancy
−$1.7K −$2.04/SF
EGI
$23.8K $27.96/SF
− OpEx
−$10.7K −$12.58/SF
NOI
$13.1K $15.38/SF
Area
Essex 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%
$261,420
Cap Rate 7%
$186,729
Cap Rate 9%
$145,233
Alternative Uses
Best Use
Apartment 5plus
$186.7K
$163.4K – $217.9K
NOI $13,071 @ 7.0% cap
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$222.0K
$194.2K – $259.0K
NOI $15,537 @ 7.0% cap
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
1,358
Businesses Nearby
Explore this area
Business Placement
Demographics for 07041, NJ
7,649
Population
2,843
Households
2.7
Avg Household Size
41
Median Age
81%
College-Educated
97%
High-School Grad
1.3 sq mi
ZIP Area
5,884
Density / Sq Mi
$220,923
Median Household Income
$109,375
Median Earnings
$1,969
Median Rent
$935,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Average Price Trend$/SF for Multifamily properties in Essex County, NJ
Properties on Market for Multifamily properties in Essex County
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Multifamily property - Two private balconies overlook downtown Millburn, with shared laundry available in the building.
Where is this multifamily property located?
The property is located at 20 Main St # 3 Millburn, NJ.
What are key features of this property?
This property features: Two private balconies overlooking downtown Millburn; Hardwood floors, granite countertops, and a dishwasher; Central heating and air conditioning
