Corner Storefront
For Sale
$3,250,000
228-236 Main Street, Chatham, NJ 07928
A full, unfinished walk-out area and natural gas service add functional features to this B-2-zoned storefront.
Property Size10,252 SF
Days on Market36
Property Features for 228-236 Main Street
General Information
Standard status
Active
Size
10,252 SF
Zoning
B-2
Additional Details
Corner Location
Yes
Liquor License
No
Taxes and HOA fees
Annual Taxes
$33,795
Amenities
Natural Gas
Full, Unfinished, Walk-Out Access
Building Details
Building Size
10,252 SF
Year Built
1910
Listed By:
MARY T. WEICHERT
(201) 532-0788
Source:
Evrealestate
Added: Sep 8
Changed: Oct 7
Last Checked: Oct 11 at 6:26AM
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 MARY T. WEICHERT
Investment Insights
Based on property information with market context.
This storefront property dates to 1910 and includes a full, unfinished area with walk-out access. Natural gas service is also present, and the property is zoned B-2.
The building occupies the corner of Main Street and N Passaic Ave in Chatham Boro, Morris County.
The building occupies the corner of Main Street and N Passaic Ave in Chatham Boro, Morris County.
Key Highlights
- Corner location at Main Street and N Passaic Ave
- B‑2 zoning
- Full, unfinished area with walk‑out access
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$146,330
Cap Rate
4.50%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,926,600
$2.9M
Cap Rate 7%
$2,090,429
$2.1M
Cap Rate 9%
$1,625,889
$1.6M
Market Conditions
NOI Build-Up for 10,252 SF
Gross rent
$221.4K $21.60/SF
− Vacancy
−$12.4K −$1.21/SF
EGI
$209.0K $20.39/SF
− OpEx
−$62.7K −$6.12/SF
NOI
$146.3K $14.27/SF
Area
Morris County, NJ
Vacancy
5.60%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,926,600
Cap Rate 7%
$2,090,429
Cap Rate 9%
$1,625,889
Alternative Uses
Best Use
Retail
$2.09M
$1.83M – $2.44M
NOI $146,330 @ 7.0% cap · market cap 4.50%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.68M
$2.34M – $3.12M
NOI $187,390 @ 7.0% cap · market cap 5.77%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
994
Businesses Nearby
33k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 64%
Dining 36%
Dunkin' Donuts
Dining
10,792 visits/mo
0.3 miles
Bank of America
Shops & Services
10,777 visits/mo
0.1 miles
TD Bank
Shops & Services
4,868 visits/mo
0.4 miles
Shell
Shops & Services
4,141 visits/mo
0.4 miles
Citizens Bank
Shops & Services
1,064 visits/mo
0.2 miles
Demographics for 07928, NJ
19,778
Population
6,837
Households
2.9
Avg Household Size
42
Median Age
83%
College-Educated
99%
High-School Grad
9.3 sq mi
ZIP Area
2,127
Density / Sq Mi
$236,000
Median Household Income
$101,563
Median Earnings
$2,441
Median Rent
$965,800
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Exotic Flowers Inc — 30 Commerce St, Chatham, NJ 07928
- Bloomers — 221 Main St, Chatham, NJ 07928
- Sunnywoods Florist — 251 Main St, Chatham, NJ 07928
Frequently Asked Questions
What type of property is this?
Storefront property - A full, unfinished walk-out area and natural gas service add functional features to this B-2-zoned storefront.
Where is this storefront property located?
The property is located at 228-236 Main Street Chatham, NJ.
What is the asking price?
The asking price for this property is $3,250,000.
What are key features of this property?
This property features: Corner location at Main Street and N Passaic Ave; B‑2 zoning; Full, unfinished area with walk‑out access
