Flex Space With
For Sale
$1,050,000
302 Boonton Ave, Boonton, NJ 07005
Two-level commercial property combining shop, office, restroom, parking, and supplemental storage areas.
Property Size3,145 SF
Days on Market48
Property Features for 302 Boonton Ave
General Information
Standard status
Active
Size
3,145 SF
Total Parking Spaces
4
Property subtype
Commercial
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$18,759
Building Details
Building Size
3,145 SF
Year Built
1946
Stories
2
Units
1
Listing Agency:
VILLAGE SQUARE REALTORS
Listed By:
WILLIAM LEY
(201) 315-5042
Source:
Elliman
Added: Sep 16
Changed: Oct 25
Last Checked: Nov 1 at 7:27AM
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 VILLAGE SQUARE REALTORS
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Investment Insights
Based on property information with market context.
Built in 1946, this two-level flex property combines shop and office areas on each floor, with bathrooms serving both levels. A loft provides additional storage space, while the property includes 4 parking bays. The furnace was installed in 2012.
The property is located at 302 Boonton Ave in Boonton, New Jersey, near Walmart and Acme. Access to Route 287 and the Montclair/Boonton Line places the site within reach of regional road and public transportation connections. The configuration supports a range of commercial operations, including contractor, detailing, studio, showroom, retail, and landscaping uses as identified in the property information.
The property is located at 302 Boonton Ave in Boonton, New Jersey, near Walmart and Acme. Access to Route 287 and the Montclair/Boonton Line places the site within reach of regional road and public transportation connections. The configuration supports a range of commercial operations, including contractor, detailing, studio, showroom, retail, and landscaping uses as identified in the property information.
Key Highlights
- Two‑level flex property with shop and office areas on both floors
- 4 parking bays
- Loft with additional storage space
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$49,675
Cap Rate
4.73%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$993,500
$993.5K
Cap Rate 7%
$709,643
$709.6K
Cap Rate 9%
$551,944
$551.9K
Market Conditions
NOI Build-Up for 3,145 SF
Gross rent
$84.9K $27.00/SF
− Vacancy
−$8.5K −$2.70/SF
EGI
$76.4K $24.30/SF
− OpEx
−$26.7K −$8.50/SF
NOI
$49.7K $15.80/SF
Area
Morris County, NJ
Vacancy
10.00%
Lease Rate
$27.00 /SF/Yr
Expense Ratio
35.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$993,500
Cap Rate 7%
$709,643
Cap Rate 9%
$551,944
Alternative Uses
Best Use
Flex RnD
$709.6K
$620.9K – $827.9K
NOI $49,675 @ 7.0% cap · market cap 4.73%
Second Best
Retail
$641.3K
$561.1K – $748.2K
NOI $44,889 @ 7.0% cap · market cap 4.28%
Theoretical Best
Office A
$821.2K
$718.6K – $958.1K
NOI $57,486 @ 7.0% cap · market cap 5.47%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
62
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 07005, NJ
15,985
Population
6,115
Households
2.6
Avg Household Size
43
Median Age
56%
College-Educated
96%
High-School Grad
18.3 sq mi
ZIP Area
873
Density / Sq Mi
$126,411
Median Household Income
$66,198
Median Earnings
$1,779
Median Rent
$565,900
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in Northeast region
Frequently Asked Questions
What type of property is this?
Flex space - Two-level commercial property combining shop, office, restroom, parking, and supplemental storage areas.
Where is this flex space located?
The property is located at 302 Boonton Ave Boonton, NJ.
What is the asking price?
The asking price for this property is $1,050,000.
What are key features of this property?
This property features: Two‑level flex property with shop and office areas on both floors; 4 parking bays; Loft with additional storage space
