Building Details

Building Size 1,300 SF

Year Built 1950

Buildings 1

Stories 3

Units 3

Tenancy Multi

Listing Agency: Burgdorff Era Show Phone

Listed By: Karin White

Source: Cammarotarealestate

Added: Aug 17 Changed: Oct 22 Last Checked: Oct 22 at 2:33PM

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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 Burgdorff Era

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Investment Insights

Based on property information with market context.

The mixed-use property contains three rental units: two apartments and one commercial space. The apartments are occupied, while the commercial unit is offered separately for rent. The commercial area has an open layout, large front windows, and wood flooring. A third-floor apartment has been renovated and features high ceilings and natural light. Heating is provided by propane and electricity.

The property is in Blairstown and is zoned VN. Parking includes a small area at the rear, with additional on-street parking nearby.

Key Highlights

• Three rental units: two residential apartments and one commercial space
• Both apartments have tenants; the commercial space is offered separately for rent
• Third‑floor apartment features high ceilings and natural light

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$18,804

Cap Rate

4.04%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$376,080 $376.1K

Cap Rate 7%

$268,629 $268.6K

Cap Rate 9%

$208,933 $208.9K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,300 SF

Gross rent

$38.4K $29.52/SF

− Vacancy

−$8.3K −$6.38/SF

EGI

$30.1K $23.14/SF

− OpEx

−$11.3K −$8.68/SF

NOI

$18.8K $14.46/SF

Area

Warren County, NJ

Vacancy

21.60%

Lease Rate

$29.52 /SF/Yr

Expense Ratio

37.50%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$376,080

Cap Rate 7%

$268,629

Cap Rate 9%

$208,933

Alternative Uses

Best Use

Mixed Use

$268.6K

$235.1K – $313.4K (±1% cap)

NOI $18,804 @ 7.0% cap · market cap 4.04%

Second Best

Apartment 5plus

$245.8K

$215.1K – $286.8K (±1% cap)

NOI $17,207 @ 7.0% cap · market cap 3.70%

Theoretical Best

Warehouse

$490.5K

$429.2K – $572.2K (±1% cap)

NOI $34,332 @ 7.0% cap · market cap 7.38%

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

Property Analytics

Current Use

Storefront properties

Suggested Use

Top Pick Dental Office HVAC Service Big Box & Wholesale Store Storage Facility Parking Lot & Garage (Bike/Boat/Book/etc) Store

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

Lease Details

2

Residential units

Multi-tenant

Tenancy

Location Intelligence

Trade Area within ½ mile

174

Businesses Nearby

Explore this area Business Placement

Demographics for 07825, NJ

9,314

Population

3,704

Households

2.5

Avg Household Size

49

Median Age

41%

College-Educated

93%

High-School Grad

84.9 sq mi

ZIP Area

110

Density / Sq Mi

$123,355

Median Household Income

$58,053

Median Earnings

$1,692

Median Rent

$410,700

Median Home Value

Market

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

Frequently Asked Questions

What type of property is this?

Mixed-use property - Three rental units combine two apartments with a commercial space in a Village Neighborhood-zoned property.

Where is this mixed-use property located?

The property is located at 21 Main St #o Blairstown, NJ.

What is the asking price?

The asking price for this property is $465,000.

What are key features of this property?

This property features: Three rental units: two residential apartments and one commercial space; Both apartments have tenants; the commercial space is offered separately for rent; Third‑floor apartment features high ceilings and natural light