Flex Space with Four Parking
For Sale
$1,050,000
302 Boonton Ave #1, Boonton, NJ 07005
Two-level shop and office space includes storage loft, bathrooms on both floors, and B-1 B-2 zoning.
Property Size3,145 SF
Price / SF$333.86
Days on Market40
Property Features for 302 Boonton Ave #1
General Information
Standard status
Active
Size
3,145 SF
Total Parking Spaces
4
Property subtype
Commercial
Zoning
B-1 B-2
Lease Type
Net
Additional Details
Highway Access
Yes
Real Estate Included
Yes
Amenities
parking
shop area
offices
bathrooms
loft
Building Details
Building Size
3,145 SF
Year Built
1946
Stories
2
Units
1
Listing Agency:
Village Square Realtors
(973) 509-2222
Listed By:
William Ley
(201) 315-5042
Source:
Culturaunitedrealty
Added: Sep 15
Changed: Oct 23
Last Checked: Oct 23 at 4:30PM
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
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 3,145-square-foot flex property has shop and office areas on both levels, with bathrooms on each floor. A loft provides additional storage, and four parking bays are part of the property. The building dates to 1946, and its furnace was installed in 2012.
Zoned B-1 B-2, the property is near Walmart, Acme, Route 287, and the Montclair-Boonton Line. The configuration accommodates a mix of work and office areas within a two-level building.
Zoned B-1 B-2, the property is near Walmart, Acme, Route 287, and the Montclair-Boonton Line. The configuration accommodates a mix of work and office areas within a two-level building.
Key Highlights
- 3,145 square feet of flex space
- Shop and office areas on both floors, with bathrooms at each level
- Four parking bays and a loft for additional storage
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.
How Realmo checks its estimates
Property Analytics
Contact the owner directly
Get the owner's phone numbers and email
Open Analytics
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in Northeast region
Frequently Asked Questions
What type of property is this?
Flex space - Two-level shop and office space includes storage loft, bathrooms on both floors, and B-1 B-2 zoning.
Where is this flex space located?
The property is located at 302 Boonton Ave #1 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: 3,145 square feet of flex space; Shop and office areas on both floors, with bathrooms at each level; Four parking bays and a loft for additional storage
