Maintained Office Building with
New
For Sale
$1,400,000
29 Trinity St, Newton, NJ 07860
Turnkey office property with an active lease and walkable access to downtown shops, restaurants, services, and community amenities.
Property Size7,000 SF
Days on Market4
Property Features for 29 Trinity St
General Information
Standard status
Active
Size
7,000 SF
Total Parking Spaces
37
Property subtype
Commercial
Zoning
T5
Taxes and HOA fees
Annual Taxes
$22,214
Building Details
Building Size
7,000 SF
Year Built
1970
Buildings
1
Stories
2
Units
1
Tenancy
Single
Abandoned
No
Listing Agency:
COLDWELL BANKER REALTY
Listed By:
CHRISTOPHER OHAB · License #301258
(973) 729-6111
Source:
Elliman
Added: Sep 22
Last Checked: Sep 24 at 11:16AM
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 COLDWELL BANKER REALTY
Investment Insights
Based on property information with market context.
This office building, constructed in 1970, is maintained for continued use and currently operates with an active lease/sublease. The property includes more than half an acre and a dedicated 37-space parking lot, providing substantial on-site parking for the existing office operation.
The property is located at 29 Trinity St in Newton, within the T5 zoning district and within walking distance of downtown. A Walk Score of 87 and Bike Score of 59 reflect pedestrian- and bicycle-accessible surroundings. Future apartment or mixed-use development may be considered, subject to applicable zoning and municipal approvals.
The property is located at 29 Trinity St in Newton, within the T5 zoning district and within walking distance of downtown. A Walk Score of 87 and Bike Score of 59 reflect pedestrian- and bicycle-accessible surroundings. Future apartment or mixed-use development may be considered, subject to applicable zoning and municipal approvals.
Key Highlights
- 37‑space dedicated parking lot
- Over half an acre of land
- T5 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
$107,100
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
7.65%
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%
$2,142,000
$2.1M
Cap Rate 7%
$1,530,000
$1.5M
Cap Rate 9%
$1,190,000
$1.2M
Market Conditions
NOI Build-Up for 7,000 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
$210.0K $30.00/SF
− Vacancy
−$67.2K −$9.60/SF
EGI
$142.8K $20.40/SF
− OpEx
−$35.7K −$5.10/SF
NOI
$107.1K $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%
$2,142,000
Cap Rate 7%
$1,530,000
Cap Rate 9%
$1,190,000
Alternative Uses
Best Use
Office B
$1.53M
$1.34M – $1.79M
NOI $107,100 @ 7.0% cap · market cap 7.65%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.83M
$1.60M – $2.13M
NOI $127,949 @ 7.0% cap · market cap 9.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,016
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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Market
Vacancy Rate% for Office in Northeast region
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Frequently Asked Questions
What type of property is this?
Office building - Turnkey office property with an active lease and walkable access to downtown shops, restaurants, services, and community amenities.
Where is this office building located?
The property is located at 29 Trinity St Newton, NJ.
What is the asking price?
The asking price for this property is $1,400,000.
What are key features of this property?
This property features: 37‑space dedicated parking lot; Over half an acre of land; T5 zoning district
