Downtown Office with Detached
For Sale
$670,000
27 MAIN ST, Sparta, NJ 07871
Office property in prime downtown location with detached two-car garage.
Property Size1,846 SF
Price / SF$362.95
Days on Market313
Property Features for 27 MAIN ST
General Information
Standard status
Active
Size
1,846 SF
Property subtype
Office
Taxes and HOA fees
Annual Taxes
$13,443
Amenities
Central Air
Tile, Vinyl, Carpet
3
Asphalt Shingle
TCM3B
Parking.
Driveway, Off Street.
Level
75X125 TCMSB, 75X125 TCMSB
Handicapped Access. Central Business District, Level.
Building Details
Year Built
1923
Listing Agency:
REALTY EXECUTIVES EXCEPTIONAL
(973) 729-7141
Listed By:
CATHERINE KUT
(973) 903-2908
Source:
Xome
Added: Oct 27, 2025
Changed: Sep 3
Last Checked: Sep 2 at 8:53PM
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
Investment Insights
Based on property information with market context.
This office property is located in a prime downtown location and includes a detached two-car garage. The building is handicap accessible and features two bathrooms. The finished basement provides additional space. The first floor includes an entry foyer, a full bath, a kitchen, and two offices. The second floor offers three offices, with the executive suite featuring custom built-ins and a cathedral ceiling. The property has a size of 1846 square feet. The property is multi-use.
Key Highlights
- Prime downtown location
- 2 car detached garage
- Handicap accessible
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
$28,244
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
4.22%
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%
$564,880
$564.9K
Cap Rate 7%
$403,486
$403.5K
Cap Rate 9%
$313,822
$313.8K
Market Conditions
NOI Build-Up for 1,846 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
$55.4K $30.00/SF
− Vacancy
−$17.7K −$9.60/SF
EGI
$37.7K $20.40/SF
− OpEx
−$9.4K −$5.10/SF
NOI
$28.2K $15.30/SF
Area
Sussex County, NJ
Vacancy
32.00%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
25.00%
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%
$564,880
Cap Rate 7%
$403,486
Cap Rate 9%
$313,822
Alternative Uses
Best Use
Office B
$403.5K
$353.1K – $470.7K
NOI $28,244 @ 7.0% cap · market cap 4.22%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$482.0K
$421.8K – $562.4K
NOI $33,742 @ 7.0% cap · market cap 5.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,080
Businesses Nearby
Explore this area
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
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Office property in prime downtown location with detached two-car garage.
Where is this office units located?
The property is located at 27 MAIN ST Sparta, NJ.
What is the asking price?
The asking price for this property is $670,000.
What are key features of this property?
This property features: Prime downtown location; 2 car detached garage; Handicap accessible
