Mixed-Use Property with Highway
For Sale
$899,000
241-243 Us Highway 206, Stanhope, NJ 07874
Multi-Family, 2-Two Story, Stanhope Boro, NJ
Property Size3,873 SF
Lot Size0.69 Acres
Price / SF$232.12
Days on Market137
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
Bedroom 1, Bathroom 3, Basement, Bathroom 1, Bedroom 2, Bathroom 2, 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
Baseboard, Hot Water(Heating)
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
(973) 575-6700
Added: May 7
Changed: Sep 12
Last Checked: Sep 20 at 7:06AM
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.
This mixed-use property contains 3,873 SF within a two-story building constructed in 1948. 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 property also includes a basement, baseboard and hot-water heating, public water, public sewer, and shingle roofing. Zoning is PIC.
Positioned at 241-243 US Highway 206 in Stanhope Boro, the property has frontage along the Route 206 corridor and parking for up to 15 vehicles. Interstate 80 is located nearby, providing access to Sussex County and Morris County destinations. The current business is not included in the sale and is expected to relocate within Sussex County; a leaseback arrangement may be considered by the owner.
Positioned at 241-243 US Highway 206 in Stanhope Boro, the property has frontage along the Route 206 corridor and parking for up to 15 vehicles. Interstate 80 is located nearby, providing access to Sussex County and Morris County destinations. The current business is not included in the sale and is expected to relocate within Sussex County; a leaseback arrangement may be considered by the owner.
Key Highlights
- 3,873 SF mixed‑use building on a two‑story layout
- 1,248 SF three‑bedroom apartment
- 2,665 SF commercial/light industrial area
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
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Open Analytics
Current Use
Lease Details
1
Residential units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
218
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in Northeast region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Two-story building combines a residential apartment with commercial/light industrial space and on-site parking.
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 a two‑story layout; 1,248 SF three‑bedroom apartment; 2,665 SF commercial/light industrial area
