Four-Unit Office Condo
For Sale
$1,100,000
280 Newton Sparta Rd #5-8, Newton, NJ 07860
Three suites are leased, with another available for occupancy or leasing.
Property Size6,267 SF
Lot Size2.36 Acres
Price / SF$175.52
Days on Market246
Property Features for 280 Newton Sparta Rd #5-8
General Information
Standard status
Active
Size
6,267 SF
Total Parking Spaces
66
Lot size
2.36 Acres
Property subtype
Commercial
Zoning
CB
Site & Location
Highway Access
Yes
Road Access
Yes
Additional Details
Office Units
4
Building Details
Building Size
6,267 SF
Year Built
1989
Stories
2
Units
4
Tenancy
Multi
Listing Agency:
Weichert Realtors
(973) 729-2700
Listed By:
Mary Smith · License #275238
(973) 903-2805
Source:
Cammarotarealestate
Added: Feb 19
Changed: Oct 22
Last Checked: Oct 22 at 2:34PM
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
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This four-unit office condominium complex totals 6,267 square feet on 2.36 acres. Built in 1989, the property is zoned CB for community business, medical, and professional office use. Three units are leased, while the remaining unit is available for occupancy or leasing. The site includes 66 parking spaces.
The property fronts Newton Sparta Road and has access to routes 15, 80, 206, 94, and 181.
The property fronts Newton Sparta Road and has access to routes 15, 80, 206, 94, and 181.
Key Highlights
- Four office condominium units totaling 6,267 square feet
- Three units leased; one unit available for occupancy or leasing
- 2.36‑acre site with 66 parking spaces
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.
How Realmo checks its estimates
Property Analytics
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
Market
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Office building - Three suites are leased, with another available for occupancy or leasing.
Where is this office building located?
The property is located at 280 Newton Sparta Rd #5-8 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 office condominium units totaling 6,267 square feet; Three units leased; one unit available for occupancy or leasing; 2.36‑acre site with 66 parking spaces
