Mixed-Use Property with
For Sale
$1,300,000
240 Demarest Rd, Sparta, NJ 07871
Building includes a residential component, storage, garage, and on-site parking.
Property Size7,000 SF
Lot Size9.00 Acres
Price / SF$185.71
Days on Market48
Property Features for 240 Demarest Rd
General Information
Standard status
Active
Size
7,000 SF
Total Parking Spaces
20
Lot size
9.00 Acres
Additional Details
Road Access
Yes
Building Details
Year Built
2003
Buildings
1
Listing Agency:
WEICHERT REALTORS
Listed By:
MARY SMITH · License #275238
(973) 903-2805
Source:
Luminancerealty
Added: Sep 13
Changed: Oct 25
Last Checked: Oct 5 at 10:01PM
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 WEICHERT REALTORS
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Investment Insights
Based on property information with market context.
This mixed-use property includes a 7,000-square-foot building completed in 2003, with a two-bedroom apartment, substantial storage, an attached two-car garage, and parking for 20 vehicles. The site previously operated as a train museum, providing a distinctive existing use within the property’s history.
The property encompasses nearly 9 acres at 240 Demarest Rd in Sparta Township, New Jersey, positioned just off Route 15. A farm assessment is also associated with the property, adding an agricultural classification to the overall property profile.
The property encompasses nearly 9 acres at 240 Demarest Rd in Sparta Township, New Jersey, positioned just off Route 15. A farm assessment is also associated with the property, adding an agricultural classification to the overall property profile.
Key Highlights
- Nearly 9‑acre property just off Route 15
- 7,000‑square‑foot building completed in 2003
- Two‑bedroom apartment with substantial storage
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$69,300
Cap Rate
5.33%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,386,000
$1.4M
Cap Rate 7%
$990,000
$990.0K
Cap Rate 9%
$770,000
$770.0K
Market Conditions
NOI Build-Up for 7,000 SF
Gross rent
$126.0K $18.00/SF
− Vacancy
−$15.1K −$2.16/SF
EGI
$110.9K $15.84/SF
− OpEx
−$41.6K −$5.94/SF
NOI
$69.3K $9.90/SF
Area
Sussex County, NJ
Vacancy
12.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,386,000
Cap Rate 7%
$990,000
Cap Rate 9%
$770,000
Alternative Uses
Best Use
Mixed Use
$990.0K
$866.3K – $1.16M
NOI $69,300 @ 7.0% cap · market cap 5.33%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.83M
$1.60M – $2.13M
NOI $127,949 @ 7.0% cap · market cap 9.84%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
215
Businesses Nearby
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Business Placement
Demographics for 07871, NJ
20,992
Population
8,367
Households
2.5
Avg Household Size
43
Median Age
62%
College-Educated
98%
High-School Grad
38.2 sq mi
ZIP Area
550
Density / Sq Mi
$167,443
Median Household Income
$84,587
Median Earnings
$1,831
Median Rent
$462,900
Median Home Value
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Building includes a residential component, storage, garage, and on-site parking.
Where is this mixed-use property located?
The property is located at 240 Demarest Rd Sparta, NJ.
What is the asking price?
The asking price for this property is $1,300,000.
What are key features of this property?
This property features: Nearly 9‑acre property just off Route 15; 7,000‑square‑foot building completed in 2003; Two‑bedroom apartment with substantial storage
