Mixed-Use Property with Highway
For Sale
$899,000
241-243 Us Highway 206, Stanhope, NJ 07874
MULTI_FAMILY - Stanhope Boro, NJ
Property Size3,873 SF
Lot Size0.69 Acres
Price / SF$232.12
Days on Market94
Property Features for 241-243 Us Highway 206
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
PIC
Bedrooms
3
Bathrooms
3
Full bathrooms
2
Half bathrooms
1
Rooms
Basement, Bedroom 2, Bathroom 1, Bathroom 2, Bedroom 1, Bathroom 3, Bedroom 3
Parking
15
Lot features
Irregular Lot
Directions
From Route 80W, take exit 25 to US 206N toward Stanhope & Newton. 1.1 miles on right side.
Standard status
Active
Size
3,873 SF
Lot size
0.69 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
12046
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Hot Water(Heating), Baseboard
Water source
Public
Building Details
Year built
1948
Floors in Building
2
Number of units
2
Roof type
Shingle
Architectural style
Other
Listing Agency:
REALTY EXECUTIVES EXCEPTIONAL · Realty Executives International
(973) 696-8800
Listed By:
MICHAEL HAUCK · License #296451
Added: May 7
Changed: Aug 1
Last Checked: Aug 8 at 4:06PM
MLS# 4026035
Copyright © 2026 Garden State MLS, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Mixed-use building totaling 3,873 SF, built in 1948, combining residential and commercial/light industrial space under one roof. The residential component is a 1,248 SF three-bedroom apartment. The commercial/light industrial portion is 2,665 SF and is currently utilized for small engine repair, with suitability for a wide range of uses. The property provides parking for up to 15 vehicles and is served by baseboard heating and hot water heating, with a shingle roof. Utilities include public water and public sewer, with cable available.
The building is positioned along the heavily traveled Route 206 commercial corridor in Stanhope, with highway frontage on U.S. Route 206. The site is located just off Interstate 80, supporting strong accessibility and a prominent first-stop location along Route 206.
Please note: the current business is not for sale and will be relocating within Sussex County; the owner may consider a leaseback arrangement.
The building is positioned along the heavily traveled Route 206 commercial corridor in Stanhope, with highway frontage on U.S. Route 206. The site is located just off Interstate 80, supporting strong accessibility and a prominent first-stop location along Route 206.
Please note: the current business is not for sale and will be relocating within Sussex County; the owner may consider a leaseback arrangement.
Key Highlights
- 3,873 SF mixed‑use building built in 1948 with shingle roof
- 1,248 SF three‑bedroom apartment plus 2,665 SF commercial/light industrial space
- Commercial/light industrial area currently utilized for small engine repair
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
$59,559
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
6.63%
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%
$1,191,180
$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
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
$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 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%
$1,191,180
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
Retail
$789.7K
$691.0K – $921.3K
NOI $55,280 @ 7.0% cap · market cap 6.15%
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.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
198
Businesses Nearby
59k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 72%
Dining 28%
QuickChek
Shops & Services
25,496 visits/mo
0.4 miles
Dunkin' Donuts
Dining
16,624 visits/mo
0.4 miles
Phillips 66
Shops & Services
6,566 visits/mo
0.1 miles
Exxon
Shops & Services
5,058 visits/mo
0.1 miles
PNC Bank
Shops & Services
2,745 visits/mo
0.5 miles
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
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Mixed-use property zoned PIC with a three-bedroom apartment and commercial/light industrial space off US 206.
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 built in 1948 with shingle roof; 1,248 SF three‑bedroom apartment plus 2,665 SF commercial/light industrial space; Commercial/light industrial area currently utilized for small engine repair
