Mixed-Use Building with
370 Pursel St #1, Phillipsburg, NJ 08865
For Sale
$314,900
A one-bedroom apartment occupies the upper floor, above a ground-floor professional office.
Property Size1,872 SF
Price / SF$168.22
Days on Market109
Property Features for 370 Pursel St #1
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Zoning
Units
Multifamily Units
Office Units
Individually Metered Utilities
Additional Details
Floor
Property Use
Building Details
Building Size
Year Built
Buildings
Stories
Units
Listing Agency:
Coldwell Banker Realty
(908) 782-6850
Listed By:
Kyle Boylan
(908) 754-7511
Source:
Cammarotarealestate
Added: Jul 23
Changed: Nov 7
Last Checked: Nov 8 at 5:17PM
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 Coldwell Banker Realty
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Investment Insights
Based on property information with market context.
This 1,872-square-foot mixed-use building, constructed in 1920, combines a first-floor professional office with a one-bedroom apartment on the second floor. A new furnace boiler serves the property, and the units have separate electric meters. A rear parking lot provides off-street parking.
Zoned Bus/Resi, the property also permits conversion to a single-family home. Its office and residential configuration offers an alternative to continued mixed-use occupancy.
Zoned Bus/Resi, the property also permits conversion to a single-family home. Its office and residential configuration offers an alternative to continued mixed-use occupancy.
Key Highlights
- 1,872‑square‑foot building constructed in 1920
- Ground‑floor professional office and second‑floor one‑bedroom apartment
- Separate electric meters for each unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$27,078
Cap Rate
8.60%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$541,560
$541.6K
Cap Rate 7%
$386,829
$386.8K
Cap Rate 9%
$300,867
$300.9K
Market Conditions
NOI Build-Up for 1,872 SF
Gross rent
$55.3K $29.52/SF
− Vacancy
−$11.9K −$6.38/SF
EGI
$43.3K $23.14/SF
− OpEx
−$16.2K −$8.68/SF
NOI
$27.1K $14.46/SF
Area
Warren County, NJ
Vacancy
21.60%
Lease Rate
$29.52 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$541,560
Cap Rate 7%
$386,829
Cap Rate 9%
$300,867
Alternative Uses
Best Use
Office B
$421.0K
$368.3K – $491.1K
NOI $29,467 @ 7.0% cap · market cap 9.36%
Second Best
Mixed Use
$386.8K
$338.5K – $451.3K
NOI $27,078 @ 7.0% cap · market cap 8.60%
Theoretical Best
Warehouse
$706.3K
$618.0K – $824.0K
NOI $49,438 @ 7.0% cap · market cap 15.70%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
1
Office units
1
Residential units
Location Intelligence
Trade Area within ½ mile
192
Businesses Nearby
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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
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Market
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Mixed-use property - A one-bedroom apartment occupies the upper floor, above a ground-floor professional office.
Where is this mixed-use property located?
The property is located at 370 Pursel St #1 Phillipsburg, NJ.
What is the asking price?
The asking price for this property is $314,900.
What are key features of this property?
This property features: 1,872‑square‑foot building constructed in 1920; Ground‑floor professional office and second‑floor one‑bedroom apartment; Separate electric meters for each unit
