6-Unit Apartment
343 FIRST AVE, Alpha, NJ 08865
For Sale
Contact for pricing
All six residences have two bedrooms and one bathroom, with municipal utilities and dedicated off-street parking.
Property Size5,174 SF
Lot Size0.43 Acres
Price / SF$173.95
Days on Market27
Property Features for 343 FIRST AVE
General Information
Standard status
Size
Lot size
Property subtype
Occupancy
Site & Location
Highway Access
Utilities to Site
Units
Unit Mix
Multifamily Units
Additional Details
Gross Income
Tenant in Place
Building Details
Buildings
Listing Agency:
Fairclough Realtors
Listed By:
Clayton Pannasch · License #1537153
(862) 354-1822
Source:
Crexi
Added: Oct 14
Changed: Nov 8
Last Checked: Nov 8 at 6:05PM
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 Fairclough Realtors
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 5,174-square-foot apartment property contains six units, each arranged with two bedrooms and one bathroom. The building sits on a 0.43-acre parcel and is fully occupied. Dedicated off-street parking and full municipal utilities serve the property.
The Alpha property is in Warren County, with Route 22 and Interstate 78 a short drive away. Its consistent unit layout, current occupancy, parking, and municipal services define the building’s practical configuration.
The Alpha property is in Warren County, with Route 22 and Interstate 78 a short drive away. Its consistent unit layout, current occupancy, parking, and municipal services define the building’s practical configuration.
Key Highlights
- Six apartments, each with a two‑bedroom, one‑bathroom layout
- 5,174 square feet on a 0.43‑acre parcel
- 100% occupied
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$68,485
Cap Rate
7.61%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,369,700
$1.4M
Cap Rate 7%
$978,357
$978.4K
Cap Rate 9%
$760,944
$760.9K
Market Conditions
NOI Build-Up for 5,174 SF
Gross rent
$130.4K $25.20/SF
− Vacancy
−$5.9K −$1.13/SF
EGI
$124.5K $24.07/SF
− OpEx
−$56.0K −$10.83/SF
NOI
$68.5K $13.24/SF
Area
Warren County, NJ
Vacancy
4.50%
Lease Rate
$25.20 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,369,700
Cap Rate 7%
$978,357
Cap Rate 9%
$760,944
Alternative Uses
Best Use
Apartment 5plus
$978.4K
$856.1K – $1.14M
NOI $68,485 @ 7.0% cap · market cap 7.61%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$1.95M
$1.71M – $2.28M
NOI $136,640 @ 7.0% cap · market cap 15.18%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
6
Residential units
100%
Occupancy
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
216
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
Frequently Asked Questions
What type of property is this?
Apartment building - All six residences have two bedrooms and one bathroom, with municipal utilities and dedicated off-street parking.
Where is this apartment building located?
The property is located at 343 FIRST AVE Alpha, NJ.
What is the asking price?
The asking price for this property is $900,000.
What are key features of this property?
This property features: Six apartments, each with a two‑bedroom, one‑bathroom layout; 5,174 square feet on a 0.43‑acre parcel; 100% occupied
