Bright Second-Floor Office
For Sale
Contact for pricing
346 Main St, Chatham, NJ 07928
Flexible professional workspace offers private offices, an open work area, two restrooms, and private parking.
Property Size3,000 SF
Price / SF$0.43
Days on Market53
Property Features for 346 Main St
General Information
Standard status
Active
Size
3,000 SF
Zoning
B-1
Additional Details
Floor
2
Public Transit
Yes
Building Details
Year Built
1960
Listing Agency:
DRISCOLL REAL ESTATE LLC
Listed By:
SUSAN DRISCOLL
(973) 635-7272
Source:
Luminancerealty
Added: Aug 25
Changed: Oct 14
Last Checked: Oct 16 at 11:27AM
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 DRISCOLL REAL ESTATE LLC
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Investment Insights
Based on property information with market context.
This 3,000-square-foot second-floor office suite combines two private offices with a generous open area and two restrooms. Windows in each office bring in natural light, while glass office doors support an open, professional environment. Fresh interior paint and a new roof contribute to the property's updated condition. The layout supports professional, administrative, retail service, or medical uses as stated in the property information.
The building occupies a corner lot on Main Street in the B-1 Business District, with a dedicated driveway, private parking, and convenient ingress and egress. Main Street signage provides a prominent branding surface, while nearby NJ Transit bus and train service offers direct access to New York City.
The building occupies a corner lot on Main Street in the B-1 Business District, with a dedicated driveway, private parking, and convenient ingress and egress. Main Street signage provides a prominent branding surface, while nearby NJ Transit bus and train service offers direct access to New York City.
Key Highlights
- 3,000 SF second‑floor suite with two private offices and an open area
- Two restrooms support staff and client use
- Windows in all offices and modern glass office doors
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$45,900
Suggested Prices Based on Cap Rates
Cap Rate 5%
$918,000
$918.0K
Cap Rate 7%
$655,714
$655.7K
Cap Rate 9%
$510,000
$510.0K
Market Conditions
NOI Build-Up for 3,000 SF
Gross rent
$90.0K $30.00/SF
− Vacancy
−$28.8K −$9.60/SF
EGI
$61.2K $20.40/SF
− OpEx
−$15.3K −$5.10/SF
NOI
$45.9K $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 Rate 5%
$918,000
Cap Rate 7%
$655,714
Cap Rate 9%
$510,000
Alternative Uses
Best Use
Office B
$655.7K
$573.8K – $765.0K
NOI $45,900 @ 7.0% cap · market cap 3,530.77%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$783.4K
$685.4K – $913.9K
NOI $54,835 @ 7.0% cap · market cap 4,218.08%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
897
Businesses Nearby
Explore this area
Business Placement
Demographics for 07928, NJ
19,778
Population
6,837
Households
2.9
Avg Household Size
42
Median Age
83%
College-Educated
99%
High-School Grad
9.3 sq mi
ZIP Area
2,127
Density / Sq Mi
$236,000
Median Household Income
$101,563
Median Earnings
$2,441
Median Rent
$965,800
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Office units - Flexible professional workspace offers private offices, an open work area, two restrooms, and private parking.
Where is this office units located?
The property is located at 346 Main St Chatham, NJ.
What are key features of this property?
This property features: 3,000 SF second‑floor suite with two private offices and an open area; Two restrooms support staff and client use; Windows in all offices and modern glass office doors
