Three-Unit Mixed-Use
For Sale
$459,000
314 S MAIN ST Unit 314, Phillipsburg, NJ 08865
Updated mixed-use building with a street-level storefront and two residential apartments.
Property Size3,200 SF
Price / SF$143.44
Days on Market194
Property Features for 314 S MAIN ST Unit 314
General Information
Standard status
Active
Size
3,200 SF
Total Parking Spaces
3
Property subtype
Mixed Use
Occupancy
100%
Units
Unit Mix
1 x 2BR, 1 x 3BR
Multifamily Units
2
Additional Details
Utilities to Site
Yes
Taxes and HOA fees
Annual Taxes
$8,452
Amenities
separate meters
natural gas heat
central air
Central Air
3
Carpet
Rubber
Mixed Use
Parking. Corner Lot.
2 Car Garage, On Street.
.052 ACRE
Central Business District, Corner.
Building Details
Year Built
1900
Year Renovated
2008
Tenancy
Multi
Listing Agency:
COLDWELL BANKER REALTY
(908) 879-4900
Listed By:
JESSICA CRAIG · License #289069
Source:
Xome
Added: Feb 19
Changed: Aug 31
Last Checked: Aug 31 at 1:07PM
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 mixed-use property contains three separately metered units: a storefront at street level, a two-bedroom apartment on the second floor, and a three-bedroom apartment on the third floor. Each unit includes natural gas heat and central air, while occupants are responsible for utilities, including water and sewer. Updates have been made to the plumbing, electrical systems, HVAC, and roof. The property is fully rented and includes rear parking, with additional street parking noted in the property information.
Located on S Main Street in Phillipsburg, the building is within walking distance of Shappell Park, shops, and restaurants. Its corner-lot position and Central Business District designation support its mixed-use configuration. The property is offered in its present condition, with the buyer responsible for verifying information.
Located on S Main Street in Phillipsburg, the building is within walking distance of Shappell Park, shops, and restaurants. Its corner-lot position and Central Business District designation support its mixed-use configuration. The property is offered in its present condition, with the buyer responsible for verifying information.
Key Highlights
- 3‑unit configuration with 1 storefront and 2 residential apartments
- Apartment mix includes 1 2‑bedroom unit and 1 3‑bedroom unit
- Separate meters for all units; tenants pay utilities including water/sewer
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
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
746
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 building with a street-level storefront and two residential apartments.
Where is this mixed-use property located?
The property is located at 314 S MAIN ST Unit 314 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: 3‑unit configuration with 1 storefront and 2 residential apartments; Apartment mix includes 1 2‑bedroom unit and 1 3‑bedroom unit; Separate meters for all units; tenants pay utilities including water/sewer
