Multi-Unit Office Building with
305 W MAIN ST Unit ALL Boonton, NJ 07005
For Sale
$1,300,000
Multi-level office asset configured as two units with separate entrances and 15 private on-site parking spaces.
Property Size4,690 SF
Price / SF$277.19
Days on Market98
Property Features for 305 W MAIN ST Unit ALL
General Information
- Standard status
- Active
- Size
- 4,690 SF
- Property subtype
- General Commercial
Building Details
- Year Built
- 1880
Listing Agency:
EXP REALTY, LLC
(866) 201-6210
Listed By:
CLAUDIA PATTERSON
Source:
Xome
Added: Apr 17
Changed: Jul 23
Last Checked: Jul 23 at 11:34AM
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 multi-level commercial office property is configured as two separate units, each with its own entrance. The interior includes private offices, conference rooms, dedicated workspaces, and a kitchenette, supporting a range of professional uses. The asset is described as meticulously maintained and in turnkey condition, with 100% occupancy through July 31, 2026.
The property is positioned in the heart of Boonton’s business district with strong frontage. Parking is a notable differentiator, with 15 private on-site spaces. Zoning allows medical, professional, retail, vocational, and dog grooming and services (including salon and spa), with potential for mixed-use conversion subject to town approvals.
Operationally, the property is presented with low operating expenses supported by tenant reimbursements, along with current 6.7% cap rate metrics provided in the remarks. Recent capital improvements include a new fire suppression system in 2025, plus updated driveway and windows.
The property is positioned in the heart of Boonton’s business district with strong frontage. Parking is a notable differentiator, with 15 private on-site spaces. Zoning allows medical, professional, retail, vocational, and dog grooming and services (including salon and spa), with potential for mixed-use conversion subject to town approvals.
Operationally, the property is presented with low operating expenses supported by tenant reimbursements, along with current 6.7% cap rate metrics provided in the remarks. Recent capital improvements include a new fire suppression system in 2025, plus updated driveway and windows.
Key Highlights
- 4,690 SF multi‑level commercial asset configured as two units with separate entrances
- 100% occupied through July 31, 2026
- 15 private off‑street on‑site parking spaces on a 0.371‑acre corner lot in the Central Business District
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
Location Intelligence
Current Use by Public Records
Office Units
FAQs
What type of property is this?
Office units - Multi-level office asset configured as two units with separate entrances and 15 private on-site parking spaces.
Where is this office units located?
The property is located at 305 W MAIN ST Unit ALL 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: 4,690 SF multi‑level commercial asset configured as two units with separate entrances; 100% occupied through July 31, 2026; 15 private off‑street on‑site parking spaces on a 0.371‑acre corner lot in the Central Business District
