Zoned Office Suite with Two-Way
For Sale
$495,000
333 E MAIN ST, Rockaway, NJ 07866
Unit 1 is currently configured as a 3-bedroom, 2-bath office space with access from two streets.
Property Size1,400 SF
Price / SF$353.57
Days on Market332
Property Features for 333 E MAIN ST
General Information
Standard status
Active
Size
1,400 SF
Property subtype
Office
Taxes and HOA fees
Annual Taxes
$8,934
Amenities
3
Tile, Vinyl
Asphalt Shingle
OB
Lot with Trees.
4 Parking Spaces. Paved Driveway.
50X133, 50X133
Storage Area. Highway Access, Open, Wooded.
Building Details
Year Built
1922
Listing Agency:
RE/MAX TOWN & VALLEY II
(973) 723-7777
Listed By:
RICK J RUOTOLO · License #8133895
(973) 723-7777
Source:
Xome
Added: Sep 16, 2025
Changed: Aug 12
Last Checked: Aug 13 at 3:42AM
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 RE/MAX TOWN & VALLEY II
Investment Insights
Based on property information with market context.
This sale offering includes Unit 1 at 333 E Main St, configured currently as a 3-bedroom, 2 full bath space and described as showing well. The property is zoned for Office Business use.
The location provides access from two streets, with access noted from RT 46 and East Main Street.
For buyers seeking an office zoned suite with a residential-style layout and two-street access, this unit presents a straightforward option based on the current configuration and stated zoning.
The location provides access from two streets, with access noted from RT 46 and East Main Street.
For buyers seeking an office zoned suite with a residential-style layout and two-street access, this unit presents a straightforward option based on the current configuration and stated zoning.
Key Highlights
- Zoned OB (Office Business) with access from two streets (RT 46 and East Main Street)
- Currently configured as a 3‑bedroom, 2‑bath unit for office use (Unit 1)
- Year built 1922; asphalt shingle roof
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
$21,420
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
4.33%
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%
$428,400
$428.4K
Cap Rate 7%
$306,000
$306.0K
Cap Rate 9%
$238,000
$238.0K
Market Conditions
NOI Build-Up for 1,400 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
$42.0K $30.00/SF
− Vacancy
−$13.4K −$9.60/SF
EGI
$28.6K $20.40/SF
− OpEx
−$7.1K −$5.10/SF
NOI
$21.4K $15.30/SF
Area
Morris County, NJ
Vacancy
32.00%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
25.00%
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%
$428,400
Cap Rate 7%
$306,000
Cap Rate 9%
$238,000
Alternative Uses
Best Use
Office B
$306.0K
$267.8K – $357.0K
NOI $21,420 @ 7.0% cap · market cap 4.33%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$365.6K
$319.9K – $426.5K
NOI $25,590 @ 7.0% cap · market cap 5.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
826
Businesses Nearby
Explore this area
Business Placement
Demographics for 07866, NJ
22,965
Population
8,863
Households
2.6
Avg Household Size
44
Median Age
50%
College-Educated
97%
High-School Grad
23.0 sq mi
ZIP Area
998
Density / Sq Mi
$123,828
Median Household Income
$70,340
Median Earnings
$1,604
Median Rent
$434,200
Median Home Value
Market
Vacancy Rate% for Office 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?
Office units - Unit 1 is currently configured as a 3-bedroom, 2-bath office space with access from two streets.
Where is this office units located?
The property is located at 333 E MAIN ST Rockaway, NJ.
What is the asking price?
The asking price for this property is $495,000.
What are key features of this property?
This property features: Zoned OB (Office Business) with access from two streets (RT 46 and East Main Street); Currently configured as a 3‑bedroom, 2‑bath unit for office use (Unit 1); Year built 1922; asphalt shingle roof
