Mixed-Use Building with Garage
210 3rd Ave Phillipsburg, NJ 08865
210 3rd Ave, Phillipsburg, NJ, 08865
$675,000
For Sale
$675,000
Two-story commercial building with garage bays and office space.
Property Size4,320 SF
Price / SF$156.25
Days on Market108
Property Features for 210 3rd Ave
General Information
- Standard status
- Active
- Size
- 4,320 SF
- Property subtype
- Commercial
Building Details
- Year Built
- 2004
Listing Agency
RE/MAX SUPREME
(908) 213-2828
Listed by
BRENT FRANKLIN · License #7843613
Source
Corcoran
Added: Apr 1 Checked: Jul 17 at 2:45 am
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 RE/MAX SUPREME
Investment Insights
Based on property information with market context.
This two-story commercial building features two large garage bays suitable for loading and storage, encompassing approximately 1200 square feet. The first floor includes open-space offices, a bathroom, and a kitchen, also covering approximately 1200+ square feet. The second floor is partially finished, offering approximately 1200 square feet of open-space office area and an additional approximately 1200 square feet of unfinished storage space. The property is equipped with central air conditioning, gas heat, and a parking lot. Situated in a high-traffic area, the building offers great visibility. The seller suggests the building could be converted into all residential apartments. The property's total size is 4320 square feet.
Key Highlights
- High visibility location in a high traffic area
- Two large garage bays for loading and storage
- Potential for conversion to all residential apartments
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $108.9k | $25.20 |
| − Vacancy | −$4.9k | −$1.13 |
| EGI | $104.0k | $24.07 |
| − OpEx | −$46.8k | −$10.83 |
| NOI | $57.2k | $13.24 |
4,320 SF · lease $25.20/SF/yr · vacancy 4.50% · expense 45.00%
Alternative Uses
Best Use
Warehouse
$1.63M
$1.43M – $1.90M
NOI $114,087 @ 7.0% cap · market cap 16.90%
Second Best
Industrial
$1.34M
$1.17M – $1.57M
NOI $93,954 @ 7.0% cap · market cap 13.92%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Office Units
Similar For Sale Nearby
FAQs
What type of property is this?
Mixed-use property - Two-story commercial building with garage bays and office space.
Where is this mixed-use property located?
The property is located at 210 3rd Ave Phillipsburg, NJ.
What is the asking price?
The asking price for this property is $675,000.
What are key features of this property?
This property features: High visibility location in a high traffic area; Two large garage bays for loading and storage; Potential for conversion to all residential apartments
