Historic Mixed-Use Office &
331 Main St Chatham, NJ 07928
331 Main St, Chatham, NJ, 07928
$1,499,000
Pending
For Sale
$1,499,000
Pending
Downtown mixed-use building with office space, two apartments, and 22 on-site parking spaces.
Property Size3,667 SF
Days on Market52
Property Features for 331 Main St
General Information
- Standard status
- Pending
- Size
- 3,667 SF
- Property subtype
- Commercial
Building Details
- Year Built
- 1870
Listing agency
WEICHERT REALTORS
(973) 635-5000
Listed by
MARY T. WEICHERT
Source
Corcoran
Added: Jun 1 Updated: Jul 10 at 1:48PM Checked: Jul 22 at 8:17AM
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 WEICHERT REALTORS
Investment Insights
Based on property information with market context.
Circa-1870 historical mixed-use property offering a versatile combination of professional office space and two residential apartments. The first floor features a spacious open reception and waiting area, a conference room, and two offices, supported by two additional private offices for flexible use or potential rental space. Residential components include two apartments with a private front entrance: the second-floor unit offers a living room, kitchen, full bath, a large bedroom with two closets, and an outdoor deck, while the third-floor unit includes a family room, kitchen, bedroom with two closets, a dedicated office, and a full bath with shower. The lower level provides tenant laundry along with storage and additional utility/storage space.
Set on a generously sized property in downtown Chatham, the building is located next to the train station and just moments from shops, dining, and everyday conveniences. On-site parking totals 22 spaces, supporting a tenant mix that can accommodate both professional visits and resident access.
Configured to serve owner-users, investors, or multi-tenant professional occupancy, the office layout supports a range of professional uses including medical, legal, wellness, financial, or boutique professional services. With separate residential apartments and shared opportunities for professional flexibility, the property is designed for an operator seeking both workspace and income-generating living units within one building.
Set on a generously sized property in downtown Chatham, the building is located next to the train station and just moments from shops, dining, and everyday conveniences. On-site parking totals 22 spaces, supporting a tenant mix that can accommodate both professional visits and resident access.
Configured to serve owner-users, investors, or multi-tenant professional occupancy, the office layout supports a range of professional uses including medical, legal, wellness, financial, or boutique professional services. With separate residential apartments and shared opportunities for professional flexibility, the property is designed for an operator seeking both workspace and income-generating living units within one building.
Key Highlights
- Mixed‑use downtown Chatham building built circa 1870 with office space, 2 residential apartments, and 22 on‑site parking spaces
- First floor includes open reception and waiting area, conference room, and two offices, plus 2 additional private offices
- Second‑floor apartment has living room, kitchen, full bath, large bedroom with two closets, and an expansive outdoor deck
Local Financial Insights For Multifamily LT 5
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 | $93.7k | $25.56 |
| − Vacancy | −$6.1k | −$1.65 |
| EGI | $87.7k | $23.91 |
| − OpEx | −$26.3k | −$7.17 |
| NOI | $61.4k | $16.74 |
3,667 SF · lease $25.56/SF/yr · vacancy 6.46% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$876.7K
$767.2K – $1.02M
NOI $61,372 @ 7.0% cap · market cap 4.09%
Second Best
Apartment 5plus
$805.6K
$704.9K – $939.9K
NOI $56,391 @ 7.0% cap · market cap 3.76%
Theoretical Best
Office A
$957.5K
$837.8K – $1.12M
NOI $67,027 @ 7.0% cap · market cap 4.47%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Office buildings
Similar For Sale Nearby
FAQs
What type of property is this?
Office building - Downtown mixed-use building with office space, two apartments, and 22 on-site parking spaces.
Where is this office building located?
The property is located at 331 Main St Chatham, NJ.
What is the asking price?
The asking price for this property is $1,499,000.
What are key features of this property?
This property features: Mixed‑use downtown Chatham building built circa 1870 with office space, 2 residential apartments, and 22 on‑site parking spaces; First floor includes open reception and waiting area, conference room, and two offices, plus 2 additional private offices; Second‑floor apartment has living room, kitchen, full bath, large bedroom with two closets, and an expansive outdoor deck
