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    203 S Main St Manville, NJ 08835

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    For Lease
    $950 /Mo

    Versatile 800 sq ft space in Manville's business district.

    Lot size:
    0.24 Acres

    Property Features for 203 S Main St

    General Information

    Standard status
    Active
    Lot size
    0.24 Acres

    Building Details

    Year built
    1915

    We can help!

    Listing Contact
    Bruce Mcdonald Jr.
    Source: Corcoran

    Listing Agency: MASTER KEY REALTORS Listing Agent: Bruce Mcdonald Jr.

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Manville Retail/Office Space Available

    An 800 sq ft office/retail space is available in the heart of Manville's Main Street business district. This versatile unit offers an open floor plan with large storefront windows, providing excellent natural light and prime signage opportunities for maximum visibility. It is ideal for a variety of uses, including professional offices such as real estate, insurance, accounting, and consulting, as well as medical and wellness services like therapy, chiropractic, massage, and nutrition. Retail businesses such as boutiques, convenience stores, and electronics shops are also suitable, as are service-based businesses like salons, barbers, tutoring centers, and printing services. The property is surrounded by established businesses and residential neighborhoods, creating strong foot and vehicle traffic. Convenient municipal parking lots nearby provide easy access for both clients and staff. The location provides excellent exposure and accessibility, just minutes from Route 206, Route 22, and major surrounding roadways. This is a great opportunity to establish or expand your business in a visible Main Street location.
    Location Intelligence

    Current Use by Public Records

    Howard Jennifer M ... Physician Bobby Robison Chamber Law Firm EURO ARTS Spiritual Center Margot’s Medicare Solutions Insurance Agency

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Skin Care Clinic

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Manville
    County
    Somerset
    State
    New Jersey
    Longitude
    -74.5874228
    Latitude
    40.5408314

    Nearby Similar for Lease

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    • $1,700 /Mo

      High-Traffic Retail/Office Space Available

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    • $2,350 /Mo
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      Downtown Manville Office/Retail Space

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      3,311 SF

      Manville Retail Building - Redevelopment Opportunity

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    FAQs

    What type of property is this?
    Retail space - Versatile 800 sq ft space in Manville's business district.
    Where is this retail space located?
    The property is located at 203 S Main St Manville, NJ.
    What is the lease rate?
    The lease rate is $950 /Mo.
    What are key features of this property?
    This property features: - Prime Main Street location in Manville with high visibility and foot/vehicle traffic.; - Versatile 800 sq ft space suitable for office, retail, medical/wellness, or service-based businesses.; - Large storefront windows offering excellent natural light and signage opportunities.
    (732) 629-7111
    Request Owner's contact information
    203 S Main St Manville, NJ 08835
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    Manville, NJ 08835
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    203 S Main St Manville, NJ 08835
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    We can help!
    Listing Contact
    Bruce Mcdonald Jr.
    (732) 629-7111 (732) 752-2222
    Learn more
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