Four-Unit Medical Office
For Sale
$1,100,000
280 Newton Sparta Rd, Newton, NJ 07860
Four-unit office condo complex with flexible layouts, three leased units, and one available for owner occupancy.
Property Size6,267 SF
Lot Size2.36 Acres
Price / SF$175.52
Days on Market242
Property Features for 280 Newton Sparta Rd
General Information
Standard status
Active
Size
6,267 SF
Total Parking Spaces
66
Lot size
2.36 Acres
Property subtype
Commercial
Zoning
Community Business Medical, Prof Offices
Site & Location
Highway Access
Yes
Road Access
Yes
Additional Details
Office Units
4
Taxes and HOA fees
Annual Taxes
$5,224
Amenities
Central air
Asphalt Shingle Roof
4+ Units Cooling
4+ Units Heating
Blacktop Driveway
Central Air Cooling
Forced Hot Air Heating
Level Lot
Parking Lot-Shared
Building Details
Year Built
1989
Tenancy
Multi
Listing Agency:
WEICHERT REALTORS
(973) 729-2700
Listed By:
MARY SMITH · License #275238
(973) 219-5355
Source:
Corcoran
Added: Feb 19
Changed: Oct 16
Last Checked: Oct 16 at 9:16AM
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 WEICHERT REALTORS
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Investment Insights
Based on property information with market context.
This four-unit office condo complex is well maintained and configured for medical or professional office use. The property comprises approximately 6,267 square feet across multiple units, with a flexible layout that can support a range of professional office requirements. Three of the units are currently leased, and one unit is available for owner occupancy or additional rental income.
The property is situated on 2.36 acres with easy access to major roadways including 15, 80, 206, 94, and 181. It is located on Newton Sparta Road and benefits from visibility along a heavily traveled corridor.
On-site parking totals 66 spaces. The property is described as zoned for Community Business Medical and professional offices.
The property is situated on 2.36 acres with easy access to major roadways including 15, 80, 206, 94, and 181. It is located on Newton Sparta Road and benefits from visibility along a heavily traveled corridor.
On-site parking totals 66 spaces. The property is described as zoned for Community Business Medical and professional offices.
Key Highlights
- Four‑unit office condo complex with flexible layouts and CB (Community Business) zoning
- 3 units currently leased; 1 unit available for owner occupancy or additional rental income
- Approximately 6,267 SF total building area on 2.36 acres
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$95,885
Cap Rate
8.72%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,917,700
$1.9M
Cap Rate 7%
$1,369,786
$1.4M
Cap Rate 9%
$1,065,389
$1.1M
Market Conditions
NOI Build-Up for 6,267 SF
Gross rent
$188.0K $30.00/SF
− Vacancy
−$60.2K −$9.60/SF
EGI
$127.8K $20.40/SF
− OpEx
−$32.0K −$5.10/SF
NOI
$95.9K $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 Rate 5%
$1,917,700
Cap Rate 7%
$1,369,786
Cap Rate 9%
$1,065,389
Alternative Uses
Best Use
Office B
$1.37M
$1.20M – $1.60M
NOI $95,885 @ 7.0% cap · market cap 8.72%
Second Best
Healthcare Medical
$1.33M
$1.17M – $1.56M
NOI $93,313 @ 7.0% cap · market cap 8.48%
Theoretical Best
Office A
$1.64M
$1.43M – $1.91M
NOI $114,551 @ 7.0% cap · market cap 10.41%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
4
Office units
Multi-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
134
Businesses Nearby
Explore this area
Business Placement
Demographics for 07860, NJ
25,704
Population
11,473
Households
2.2
Avg Household Size
46
Median Age
40%
College-Educated
95%
High-School Grad
100.2 sq mi
ZIP Area
257
Density / Sq Mi
$104,113
Median Household Income
$53,509
Median Earnings
$1,437
Median Rent
$336,600
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Office building - Four-unit office condo complex with flexible layouts, three leased units, and one available for owner occupancy.
Where is this office building located?
The property is located at 280 Newton Sparta Rd Newton, NJ.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: Four‑unit office condo complex with flexible layouts and CB (Community Business) zoning; 3 units currently leased; 1 unit available for owner occupancy or additional rental income; Approximately 6,267 SF total building area on 2.36 acres
