Duplex with Detached
For Sale
$849,900
266 Main St, Whitehouse Station, NJ 08889
Legal two-family property with separate kitchens, renovated interiors, a wraparound porch, and flexible auxiliary space.
Property Size4,686 SF
Price / SF$181.37
Days on Market36
Property Features for 266 Main St
General Information
Standard status
Active
Size
4,686 SF
Total Parking Spaces
3
Property subtype
Multi-Family
Zoning
VC
Additional Details
Public Transit
Yes
Multifamily Units
2
Amenities
wraparound porch
large basement
finished bonus room
Building Details
Year Built
1890
Listing Agency:
COLDWELL BANKER REALTY
(973) 319-7842
Listed By:
TERRI J. GRANHOLM
Source:
Luminancerealty
Added: Jul 27
Changed: Aug 29
Last Checked: Aug 30 at 8:23PM
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 COLDWELL BANKER REALTY
Investment Insights
Based on property information with market context.
This legal two-family residence combines historic character with extensive interior improvements. Built in 1890, the property includes 6 bedrooms, 2 full baths, 2 kitchens, living and dining rooms, original woodwork, refinished hardwood floors, updated kitchens and baths, a wraparound porch, and a large basement. A detached 3-car garage adds a finished bonus room above, expanding the property's usable space.
The property is located at 266 Main St in Readington Township's Whitehouse Station area, near downtown, NJ Transit, shopping, restaurants, and major commuter routes. Village Commercial (VC) zoning applies, and the garage's upper room may accommodate a home office, studio, workshop, storage, or other permitted uses. The configuration supports either owner occupancy with a second unit or leasing both units.
The property is located at 266 Main St in Readington Township's Whitehouse Station area, near downtown, NJ Transit, shopping, restaurants, and major commuter routes. Village Commercial (VC) zoning applies, and the garage's upper room may accommodate a home office, studio, workshop, storage, or other permitted uses. The configuration supports either owner occupancy with a second unit or leasing both units.
Key Highlights
- Legal two‑family property with 6 bedrooms, 2 full baths, and 2 kitchens
- Detached 3‑car garage with finished bonus room above
- Village Commercial (VC) zoning district
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
$72,061
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
8.48%
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%
$1,441,220
$1.4M
Cap Rate 7%
$1,029,443
$1.0M
Cap Rate 9%
$800,678
$800.7K
Market Conditions
NOI Build-Up for 4,686 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
$140.6K $30.00/SF
− Vacancy
−$9.6K −$2.04/SF
EGI
$131.0K $27.96/SF
− OpEx
−$59.0K −$12.58/SF
NOI
$72.1K $15.38/SF
Area
Hunterdon 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%
$1,441,220
Cap Rate 7%
$1,029,443
Cap Rate 9%
$800,678
Alternative Uses
Best Use
Multifamily LT 5
$1.12M
$980.3K – $1.31M
NOI $78,426 @ 7.0% cap · market cap 9.23%
Second Best
Apartment 5plus
$1.03M
$900.8K – $1.20M
NOI $72,061 @ 7.0% cap · market cap 8.48%
Theoretical Best
Office A
$1.22M
$1.07M – $1.43M
NOI $85,653 @ 7.0% cap · market cap 10.08%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
269
Businesses Nearby
Explore this area
Business Placement
Demographics for 08889, NJ
9,928
Population
4,449
Households
2.2
Avg Household Size
50
Median Age
61%
College-Educated
98%
High-School Grad
23.1 sq mi
ZIP Area
430
Density / Sq Mi
$147,048
Median Household Income
$78,772
Median Earnings
$1,458
Median Rent
$523,100
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Legal two-family property with separate kitchens, renovated interiors, a wraparound porch, and flexible auxiliary space.
Where is this duplex located?
The property is located at 266 Main St Whitehouse Station, NJ.
What is the asking price?
The asking price for this property is $849,900.
What are key features of this property?
This property features: Legal two‑family property with 6 bedrooms, 2 full baths, and 2 kitchens; Detached 3‑car garage with finished bonus room above; Village Commercial (VC) zoning district
