Two-Story Office Building with
For Sale
$670,000
27 MAIN ST Unit 27, Sparta, NJ 07871
Private offices, an executive suite, and finished basement space support a versatile commercial layout.
Property Size1,846 SF
Price / SF$362.95
Days on Market177
Property Features for 27 MAIN ST Unit 27
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
Source:
Xome
Added: Mar 6
Changed: Aug 29
Last Checked: Aug 29 at 10:41PM
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.
Built in 1923, this office property provides a multi-level configuration with distinct work areas and practical support space. The first floor includes an entry foyer, kitchen, full bath, and two offices. Upstairs, three additional offices include an executive suite with custom built-ins and a cathedral ceiling. The building also has a finished basement, two baths, central air, and handicap access.
A detached 2-car garage accompanies the property, with driveway and off-street parking. Interior finishes include tile, vinyl, and carpet. The property is located at 27 Main St Unit 27 in Sparta, New Jersey, within the Central Business District.
A detached 2-car garage accompanies the property, with driveway and off-street parking. Interior finishes include tile, vinyl, and carpet. The property is located at 27 Main St Unit 27 in Sparta, New Jersey, within the Central Business District.
Key Highlights
- Two‑story office configuration with 5 offices across the first and second floors
- Executive suite with custom built‑ins and cathedral ceiling
- Finished basement and 2 baths
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 building - Private offices, an executive suite, and finished basement space support a versatile commercial layout.
Where is this office building located?
The property is located at 27 MAIN ST Unit 27 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: Two‑story office configuration with 5 offices across the first and second floors; Executive suite with custom built‑ins and cathedral ceiling; Finished basement and 2 baths
