Mixed-Use Property with
For Sale
Contact for pricing
315 Mechanic Street, Boonton, NJ 07005
Contiguous multi-building assemblage combines warehouse space, residential units, parking, and connections across three streets.
Property Size33,183 SF
Price / SF$147.67
Days on Market92
Property Features for 315 Mechanic Street
General Information
Standard status
Active
Size
33,183 SF
Class
B
Total Parking Spaces
20
Property subtype
Industrial, Mixed Use
Lease Type
Modified Gross
Site & Location
Highway Access
Yes
Road Access
Yes
Building Details
Year Built
1945
Buildings
5
Stories
3
Units
6
Tenancy
Multi
Listing Agency:
Cervelli Real Estate & Property Management
Listed By:
Chris Cervelli · License #9807944
(201) 868-6300
Source:
Crexi
Added: Jul 16
Changed: Oct 13
Last Checked: Oct 14 at 11:38PM
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 Cervelli Real Estate & Property Management
Investment Insights
Based on property information with market context.
This mixed-use assemblage includes three properties with five buildings, more than 30,000 SF of warehouse space, three residential units, and a parking lot. The parcels are contiguous and extend between Mechanic Street, Cedar Street, and Division Street, creating connections across the assemblage for access and circulation. The improvements date to 1945.
The property is positioned within Boonton's established industrial corridor, with access to Routes 202 and 287 and regional distribution infrastructure. Boonton NJ Transit station is less than half a mile away. The combination of warehouse, residential, and parking components provides a varied existing configuration within a multi-street setting.
The property is positioned within Boonton's established industrial corridor, with access to Routes 202 and 287 and regional distribution infrastructure. Boonton NJ Transit station is less than half a mile away. The combination of warehouse, residential, and parking components provides a varied existing configuration within a multi-street setting.
Key Highlights
- Three‑property assemblage with five buildings
- More than 30,000 SF of warehouse space
- Three residential units and an on‑site parking lot
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$243,616
Cap Rate
4.97%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,872,320
$4.9M
Cap Rate 7%
$3,480,229
$3.5M
Cap Rate 9%
$2,706,844
$2.7M
Market Conditions
NOI Build-Up for 33,183 SF
Gross rent
$446.0K $13.44/SF
− Vacancy
−$56.2K −$1.69/SF
EGI
$389.8K $11.75/SF
− OpEx
−$146.2K −$4.40/SF
NOI
$243.6K $7.34/SF
Area
Morris County, NJ
Vacancy
12.60%
Lease Rate
$13.44 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,872,320
Cap Rate 7%
$3,480,229
Cap Rate 9%
$2,706,844
Alternative Uses
Best Use
Warehouse
$6.46M
$5.65M – $7.54M
NOI $452,266 @ 7.0% cap · market cap 9.23%
Second Best
Mixed Use
$3.48M
$3.05M – $4.06M
NOI $243,616 @ 7.0% cap · market cap 4.97%
Theoretical Best
Office A
$8.66M
$7.58M – $10.11M
NOI $606,532 @ 7.0% cap · market cap 12.38%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
989
Businesses Nearby
Explore this area
Business Placement
Demographics for 07005, NJ
15,985
Population
6,115
Households
2.6
Avg Household Size
43
Median Age
56%
College-Educated
96%
High-School Grad
18.3 sq mi
ZIP Area
873
Density / Sq Mi
$126,411
Median Household Income
$66,198
Median Earnings
$1,779
Median Rent
$565,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in Northeast region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Contiguous multi-building assemblage combines warehouse space, residential units, parking, and connections across three streets.
Where is this mixed-use property located?
The property is located at 315 Mechanic Street Boonton, NJ.
What is the asking price?
The asking price for this property is $4,900,000.
What are key features of this property?
This property features: Three‑property assemblage with five buildings; More than 30,000 SF of warehouse space; Three residential units and an on‑site parking lot
