Mixed-Use Property with
For Sale
$899,000
241-243 Us Highway 206, Stanhope, NJ 07874
Combines a three-bedroom apartment with commercial and light industrial space.
Property Size3,873 SF
Lot Size0.68 Acres
Price / SF$232.12
Days on Market47
Property Features for 241-243 Us Highway 206
General Information
Standard status
Active
Size
3,873 SF
Total Parking Spaces
15
Lot size
0.68 Acres
Property subtype
Multi-Family
Site & Location
Highway Access
Yes
Road Access
Yes
Units
Unit Mix
1 x 3BR
Multifamily Units
1
Building Details
Year Built
1948
Buildings
1
Listing Agency:
REALTY EXECUTIVES EXCEPTIONAL
Listed By:
MICHAEL HAUCK · License #296451
(973) 575-6700
Source:
Luminancerealty
Added: Sep 2
Changed: Oct 6
Last Checked: Oct 5 at 8:26PM
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 REALTY EXECUTIVES EXCEPTIONAL
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Investment Insights
Based on property information with market context.
This mixed-use property contains 3,873 SF of building area on 0.68 acres. The layout includes a 1,248 SF three-bedroom apartment and 2,665 SF of commercial/light industrial space currently used for small engine repair. The building dates to 1948 and includes parking for up to 15 vehicles.
The property has frontage along U.S. Route 206 in Stanhope Boro, NJ, with access just off Interstate 80. Its location places the building along the Route 206 commercial corridor, with connectivity to Sussex County and neighboring Morris County. The existing business is not included in the sale and is expected to relocate within Sussex County; the owner may consider a leaseback arrangement.
The property has frontage along U.S. Route 206 in Stanhope Boro, NJ, with access just off Interstate 80. Its location places the building along the Route 206 commercial corridor, with connectivity to Sussex County and neighboring Morris County. The existing business is not included in the sale and is expected to relocate within Sussex County; the owner may consider a leaseback arrangement.
Key Highlights
- 3,873 SF mixed‑use building on 0.68 acres
- 1,248 SF three‑bedroom residential apartment
- 2,665 SF commercial/light industrial space
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$59,559
Cap Rate
6.63%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,191,180
$1.2M
Cap Rate 7%
$850,843
$850.8K
Cap Rate 9%
$661,767
$661.8K
Market Conditions
NOI Build-Up for 3,873 SF
Gross rent
$116.2K $30.00/SF
− Vacancy
−$7.9K −$2.04/SF
EGI
$108.3K $27.96/SF
− OpEx
−$48.7K −$12.58/SF
NOI
$59.6K $15.38/SF
Area
Sussex County, NJ
Vacancy
6.80%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,191,180
Cap Rate 7%
$850,843
Cap Rate 9%
$661,767
Alternative Uses
Best Use
Apartment 5plus
$850.8K
$744.5K – $992.7K
NOI $59,559 @ 7.0% cap · market cap 6.63%
Second Best
Office B
$846.5K
$740.7K – $987.6K
NOI $59,257 @ 7.0% cap · market cap 6.59%
Theoretical Best
Office A
$1.01M
$884.9K – $1.18M
NOI $70,792 @ 7.0% cap · market cap 7.87%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
1
Residential units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
198
Businesses Nearby
Explore this area
Business Placement
Demographics for 07874, NJ
8,639
Population
3,325
Households
2.6
Avg Household Size
43
Median Age
39%
College-Educated
95%
High-School Grad
8.5 sq mi
ZIP Area
1,016
Density / Sq Mi
$125,517
Median Household Income
$59,407
Median Earnings
$1,735
Median Rent
$336,000
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Combines a three-bedroom apartment with commercial and light industrial space.
Where is this mixed-use property located?
The property is located at 241-243 Us Highway 206 Stanhope, NJ.
What is the asking price?
The asking price for this property is $899,000.
What are key features of this property?
This property features: 3,873 SF mixed‑use building on 0.68 acres; 1,248 SF three‑bedroom residential apartment; 2,665 SF commercial/light industrial space
