Corner Mixed-Use
New
For Sale
$1,600,000
216 Main St, Hackettstown, NJ 07840
Restaurant space and two upstairs apartments create a combined commercial and residential layout.
Property Size3,487 SF
Days on Market2
Property Features for 216 Main St
General Information
Standard status
Active
Size
3,487 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$9,540
Building Details
Building Size
3,487 SF
Year Built
1895
Buildings
1
Stories
2
Units
3
Listing Agency:
Listed By:
RONNY GUTIERREZ
Source:
Elliman
Added: Aug 8
Changed: Aug 9
Last Checked: Aug 9 at 6:18AM
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 RONNY GUTIERREZ
Investment Insights
Based on property information with market context.
Built in 1895, this corner mixed-use property combines a ground-floor restaurant with two upper-level apartments. Each residence contains 4 bedrooms and 1 bathroom and is accessed through a separate private entrance. One apartment includes a balcony, while the other is owner-occupied; the balcony unit is tenant-occupied.
The property is located in downtown Hackettstown at 216 Main St, with an 80 walk score and 58 bike score. Its corner position places the commercial and residential uses within a walkable downtown setting.
The property is located in downtown Hackettstown at 216 Main St, with an 80 walk score and 58 bike score. Its corner position places the commercial and residential uses within a walkable downtown setting.
Key Highlights
- Ground‑floor restaurant with two upper‑level apartments
- Two 4‑bedroom, 1‑bath apartments, each with a private entrance
- Rear apartment includes a balcony and is tenant‑occupied
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
$51,370
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
3.21%
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%
$1,027,400
$1.0M
Cap Rate 7%
$733,857
$733.9K
Cap Rate 9%
$570,778
$570.8K
Market Conditions
NOI Build-Up for 3,487 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
$77.4K $22.20/SF
− Vacancy
−$4.0K −$1.15/SF
EGI
$73.4K $21.05/SF
− OpEx
−$22.0K −$6.31/SF
NOI
$51.4K $14.73/SF
Area
Warren County, NJ
Vacancy
5.20%
Lease Rate
$22.20 /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%
$1,027,400
Cap Rate 7%
$733,857
Cap Rate 9%
$570,778
Alternative Uses
Best Use
Multifamily LT 5
$733.9K
$642.1K – $856.2K
NOI $51,370 @ 7.0% cap · market cap 3.21%
Second Best
Mixed Use
$720.6K
$630.5K – $840.7K
NOI $50,439 @ 7.0% cap · market cap 3.15%
Theoretical Best
Warehouse
$1.32M
$1.15M – $1.53M
NOI $92,088 @ 7.0% cap · market cap 5.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
708
Businesses Nearby
Explore this area
Business Placement
Demographics for 07840, NJ
31,255
Population
12,974
Households
2.4
Avg Household Size
43
Median Age
49%
College-Educated
96%
High-School Grad
37.3 sq mi
ZIP Area
838
Density / Sq Mi
$107,956
Median Household Income
$54,886
Median Earnings
$1,469
Median Rent
$373,000
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - Restaurant space and two upstairs apartments create a combined commercial and residential layout.
Where is this mixed-use property located?
The property is located at 216 Main St Hackettstown, NJ.
What is the asking price?
The asking price for this property is $1,600,000.
What are key features of this property?
This property features: Ground‑floor restaurant with two upper‑level apartments; Two 4‑bedroom, 1‑bath apartments, each with a private entrance; Rear apartment includes a balcony and is tenant‑occupied
