Two-Unit Mixed-Use
For Sale
$450,000
405 S Main St, Phillipsburg, NJ 08865
Combined commercial and residential layout with finished retail space, an upper-level home, and basement storage.
Property Size2,900 SF
Price / SF$155.17
Days on Market48
Property Features for 405 S Main St
General Information
Standard status
Active
Size
2,900 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$8,990
Amenities
Central air
2 Units Heating
Flat Roof
Wall A/C Unit(s) Cooling
Building Details
Year Built
1929
Listing Agency:
REAL
(855) 450-0442
Listed By:
STEVEN BETANCURTH · License #1539846
(201) 561-7252
Source:
Corcoran
Added: Sep 9
Changed: Oct 26
Last Checked: Oct 24 at 6:26PM
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 REAL
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Investment Insights
Based on property information with market context.
This two-unit mixed-use property combines a finished commercial component with a residential unit arranged across two levels. The approximately 2,000-square-foot first-floor space includes a private bathroom and basement storage and is occupied by a Caribbean grocery store under a lease extending through June 2027. The upper residence has two bedrooms, a den, living and dining rooms, and updated interiors.
The building contains approximately 2,900 square feet and was built in 1929. Its location on S Main St places it near downtown Phillipsburg shops and restaurants, with access to major roadways and the Pennsylvania border. The configuration supports a commercial storefront alongside an on-site residential component.
The building contains approximately 2,900 square feet and was built in 1929. Its location on S Main St places it near downtown Phillipsburg shops and restaurants, with access to major roadways and the Pennsylvania border. The configuration supports a commercial storefront alongside an on-site residential component.
Key Highlights
- Two‑unit mixed‑use property with approximately 2,900 square feet
- Approximately 2,000 square feet of finished first‑floor commercial space
- Commercial unit includes a private bathroom and basement storage
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$37,506
Cap Rate
8.33%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$750,120
$750.1K
Cap Rate 7%
$535,800
$535.8K
Cap Rate 9%
$416,733
$416.7K
Market Conditions
NOI Build-Up for 2,900 SF
Gross rent
$52.2K $18.00/SF
− Vacancy
−$2.2K −$0.76/SF
EGI
$50.0K $17.24/SF
− OpEx
−$12.5K −$4.31/SF
NOI
$37.5K $12.93/SF
Area
Warren County, NJ
Vacancy
4.20%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$750,120
Cap Rate 7%
$535,800
Cap Rate 9%
$416,733
Alternative Uses
Best Use
Mixed Use
$599.3K
$524.4K – $699.1K
NOI $41,948 @ 7.0% cap · market cap 9.32%
Second Best
Specialty Retail
$535.8K
$468.8K – $625.1K
NOI $37,506 @ 7.0% cap · market cap 8.33%
Theoretical Best
Warehouse
$1.09M
$957.3K – $1.28M
NOI $76,586 @ 7.0% cap · market cap 17.02%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
638
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 Retail in Northeast region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Combined commercial and residential layout with finished retail space, an upper-level home, and basement storage.
Where is this mixed-use property located?
The property is located at 405 S Main St Phillipsburg, NJ.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: Two‑unit mixed‑use property with approximately 2,900 square feet; Approximately 2,000 square feet of finished first‑floor commercial space; Commercial unit includes a private bathroom and basement storage
