Boonton Commercial Property with
305 W Main St Boonton, NJ 07005
305 W Main St, Boonton, NJ, 07005
$1,300,000
For Sale
$1,300,000
Highly visible commercial property in Boonton's business district.
Property Size4,690 SF
Price / SF$277.19
Days on Market94
Property Features for 305 W Main St
General Information
- Standard status
- Active
- Size
- 4,690 SF
- Property subtype
- Commercial
Building Details
- Year Built
- 1880
Listing agency
EXP REALTY, LLC
(866) 201-6210
Listed by
CLAUDIA PATTERSON
Source
Corcoran
Added: Apr 20 Updated: Jul 10 at 3:55PM Checked: Jul 22 at 8:11AM
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 EXP REALTY, LLC
Investment Insights
Based on property information with market context.
This highly visible commercial property, situated in the heart of Boonton's business district within the supply-constrained Morris County submarket, offers 4,690 square feet of multi-level space. The property is currently 100% occupied and configured as two units, each with a separate entrance, providing flexibility for investors or future owner-users. The layout includes private offices, conference rooms, dedicated workspaces, and a kitchenette, making it suitable for a variety of professional uses. A significant advantage is the inclusion of 15 private on-site parking spaces. Zoning allows for medical, professional, retail, vocational, dog grooming, and service uses such as salons and spas, with the potential for mixed-use conversion subject to town approvals. The property presents an investment opportunity with in-place income at a 6.7% cap rate and low operating expenses supported by tenant reimbursements. There is clear rent growth potential, as rents have not increased in over three years. Recent capital improvements include a new fire suppression system scheduled for 2025, along with updated driveway and windows, minimizing near-term capital expenditures. The property is ideally located within walking distance to downtown Boonton, with access to shopping, restaurants, NYC transit, nearby medical offices, and a strong surrounding residential base.
Key Highlights
- High‑visibility commercial property in Boonton's business district with strong frontage and 15 private on‑site parking spaces.
- 100% occupied, multi‑level asset (4,690 SF) configured as two units with separate entrances, offering flexibility for investors or owner‑users.
- Zoning allows for a wide range of uses (medical, professional, retail, etc.) with potential for mixed‑use conversion.
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $140.7k | $30.00 |
| − Vacancy | −$45.0k | −$9.60 |
| EGI | $95.7k | $20.40 |
| − OpEx | −$23.9k | −$5.10 |
| NOI | $71.8k | $15.30 |
4,690 SF · lease $30.00/SF/yr · vacancy 32.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$1.03M
$897.0K – $1.20M
NOI $71,757 @ 7.0% cap · market cap 5.52%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.22M
$1.07M – $1.43M
NOI $85,726 @ 7.0% cap · market cap 6.59%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Office Units
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FAQs
What type of property is this?
Office units - Highly visible commercial property in Boonton's business district.
Where is this office units located?
The property is located at 305 W Main St Boonton, NJ.
What is the asking price?
The asking price for this property is $1,300,000.
What are key features of this property?
This property features: High‑visibility commercial property in Boonton's business district with strong frontage and **15 private on‑site parking spaces**.; 100% occupied, multi‑level asset (4,690 SF) configured as two units with separate entrances, offering flexibility for investors or owner‑users.; Zoning allows for a wide range of uses (medical, professional, retail, etc.) with potential for mixed‑use conversion.
