Storefront Retail
For Sale
$300,000
31 S Main St, Wharton, NJ 07885
Storefront on S Main St suited for service-oriented retail uses; buyer must verify zoning and commercial permissions.
Property Size1,550 SF
Price / SF$193.55
Days on Market61
Property Features for 31 S Main St
General Information
Standard status
Active
Size
1,550 SF
Property subtype
Commercial
Additional Details
Business Included
Yes
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$7,042
Amenities
1 Unit Heating
Blacktop Driveway
Flat Roof
Rubberized Roof
Building Details
Year Built
1950
Listing Agency:
EXP REALTY, LLC
(866) 201-6210
Listed By:
KUNHO LEE
Source:
Corcoran
Added: Jun 9
Changed: Aug 8
Last Checked: Aug 8 at 7:43AM
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 for-sale storefront retail property consists of approximately 1,550 square feet and is located at 31 S Main St in Wharton Borough, NJ. The site is presented as a long-established commercial property within the borough and is positioned for service-based retail concepts such as a dry cleaner, convenience store, or specialty shop, subject to applicable approvals.
The address provides a direct connection to Wharton Borough’s commercial corridor, with the broader area described as having direct access to major transportation arteries including Interstate 80 and Route 15. Any specific tenant fit should be confirmed based on the local requirements tied to the property and intended use.
Because zoning and permitted commercial usage can vary by property type and location, the buyer must verify all zoning and usage permissions with the Wharton Borough zoning office before finalizing plans. This makes the property best suited for buyers and investors who want a straightforward, owner-controlled retail storefront and are prepared to complete diligence on permitted uses and compliance requirements prior to occupancy.
The address provides a direct connection to Wharton Borough’s commercial corridor, with the broader area described as having direct access to major transportation arteries including Interstate 80 and Route 15. Any specific tenant fit should be confirmed based on the local requirements tied to the property and intended use.
Because zoning and permitted commercial usage can vary by property type and location, the buyer must verify all zoning and usage permissions with the Wharton Borough zoning office before finalizing plans. This makes the property best suited for buyers and investors who want a straightforward, owner-controlled retail storefront and are prepared to complete diligence on permitted uses and compliance requirements prior to occupancy.
Key Highlights
- Storefront on S Main St in Wharton Borough, NJ, suited for service‑oriented retail uses (buyer to verify).
- Year built: 1950.
- Buyer must verify zoning and commercial usage permissions with the Wharton Borough zoning office.
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
$22,124
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
7.37%
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%
$442,480
$442.5K
Cap Rate 7%
$316,057
$316.1K
Cap Rate 9%
$245,822
$245.8K
Market Conditions
NOI Build-Up for 1,550 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
$33.5K $21.60/SF
− Vacancy
−$1.9K −$1.21/SF
EGI
$31.6K $20.39/SF
− OpEx
−$9.5K −$6.12/SF
NOI
$22.1K $14.27/SF
Area
Morris County, NJ
Vacancy
5.60%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
30.00%
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%
$442,480
Cap Rate 7%
$316,057
Cap Rate 9%
$245,822
Alternative Uses
Best Use
Retail
$316.1K
$276.6K – $368.7K
NOI $22,124 @ 7.0% cap · market cap 7.37%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$404.7K
$354.2K – $472.2K
NOI $28,332 @ 7.0% cap · market cap 9.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
338
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 07885, NJ
11,521
Population
4,947
Households
2.3
Avg Household Size
42
Median Age
38%
College-Educated
93%
High-School Grad
14.7 sq mi
ZIP Area
784
Density / Sq Mi
$100,903
Median Household Income
$52,325
Median Earnings
$1,961
Median Rent
$345,200
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Storefront property - Storefront on S Main St suited for service-oriented retail uses; buyer must verify zoning and commercial permissions.
Where is this storefront property located?
The property is located at 31 S Main St Wharton, NJ.
What is the asking price?
The asking price for this property is $300,000.
What are key features of this property?
This property features: Storefront on S Main St in Wharton Borough, NJ, suited for service‑oriented retail uses (buyer to verify).; Year built: 1950.; Buyer must verify zoning and commercial usage permissions with the Wharton Borough zoning office.
