Phillipsburg Mixed-Use Investment
For Sale
$459,000
314 S Main St, Phillipsburg, NJ 08865
Updated mixed-use property with storefront and residential units in Phillipsburg.
Property Size3,200 SF
Lot Size0.05 Acres
Price / SF$143.44
Days on Market139
Property Features for 314 S Main St
General Information
Standard status
Active
Size
3,200 SF
Lot size
0.05 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$8,452
Amenities
Central air
2 Car Width
3 Units Cooling
3 Units Heating
Additional Parking
Central Air Cooling
Corner
Forced Hot Air Heating
On-Street Parking
Rubberized Roof
Building Details
Year Built
1900
Listing Agency:
COLDWELL BANKER REALTY
(908) 879-4900
Listed By:
JESSICA CRAIG · License #289069
Source:
Corcoran
Added: Mar 24
Changed: Aug 8
Last Checked: Aug 8 at 2:37PM
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 COLDWELL BANKER REALTY
Investment Insights
Based on property information with market context.
This updated and well-maintained mixed-use commercial property is located in Phillipsburg. The property features 3 units, including a storefront and two residential apartments. One apartment is a 2-bedroom unit on the second floor, and the other is a 3-bedroom unit on the third floor. Each unit has separate meters, and tenants are responsible for all utilities, including water and sewer. The units are equipped with natural gas heat and central air. The property provides 3 off-street parking spaces in the rear. It is a low-maintenance, turnkey investment opportunity that is fully rented and income-producing. The property is conveniently located within walking distance of Shappell Park, shops, and restaurants. According to the seller, the property underwent a major renovation between 2006 and 2008, including updates to plumbing, electric, HVAC, and the roof. The property size is 3200 square feet and is being sold strictly as-is.
Key Highlights
- Fully rented, income‑producing, turnkey investment property.
- Three separate units: storefront and two residential apartments (2‑bedroom and 3‑bedroom).
- Separate meters for each unit, tenants pay all utilities.
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
$36,772
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
8.01%
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%
$735,440
$735.4K
Cap Rate 7%
$525,314
$525.3K
Cap Rate 9%
$408,578
$408.6K
Market Conditions
NOI Build-Up for 3,200 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
$57.6K $18.00/SF
− Vacancy
−$5.1K −$1.58/SF
EGI
$52.5K $16.42/SF
− OpEx
−$15.8K −$4.92/SF
NOI
$36.8K $11.49/SF
Area
Warren County, NJ
Vacancy
8.80%
Lease Rate
$18.00 /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%
$735,440
Cap Rate 7%
$525,314
Cap Rate 9%
$408,578
Alternative Uses
Best Use
Mixed Use
$661.2K
$578.6K – $771.5K
NOI $46,287 @ 7.0% cap · market cap 10.08%
Second Best
Apartment 5plus
$605.1K
$529.5K – $705.9K
NOI $42,356 @ 7.0% cap · market cap 9.23%
Theoretical Best
Warehouse
$1.21M
$1.06M – $1.41M
NOI $84,509 @ 7.0% cap · market cap 18.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
148
Businesses Nearby
Explore this area
Business Placement
Demographics for 08865, NJ
30,537
Population
14,146
Households
2.2
Avg Household Size
42
Median Age
29%
College-Educated
93%
High-School Grad
41.5 sq mi
ZIP Area
736
Density / Sq Mi
$78,519
Median Household Income
$49,811
Median Earnings
$1,248
Median Rent
$244,200
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Updated mixed-use property with storefront and residential units in Phillipsburg.
Where is this mixed-use property located?
The property is located at 314 S Main St Phillipsburg, NJ.
What is the asking price?
The asking price for this property is $459,000.
What are key features of this property?
This property features: Fully rented, income‑producing, **turnkey investment property**.; Three separate units: storefront and two residential apartments (2‑bedroom and 3‑bedroom).; Separate meters for each unit, tenants pay all utilities.
