Freestanding Flex Space with
For Sale
$590,000
409 Woodport Rd #409, Sparta, NJ 07871
Adaptable commercial building with open workspace, private rooms, storage, and a commercial preparation area.
Property Size3,255 SF
Days on Market75
Property Features for 409 Woodport Rd #409
General Information
Standard status
Active
Size
3,255 SF
Property subtype
Commercial
Zoning
Economic Dev.
Additional Details
Highway Access
Yes
Amenities
commercial kitchen
Building Details
Building Size
3,255 SF
Year Built
1939
Buildings
1
Stories
3
Units
1
Listing Agency:
Re/Max Select
(973) 580-5211
Listed By:
David P Wainwright
(973) 580-5211
Source:
Betterhomerealestate
Added: Jun 16
Changed: Aug 29
Last Checked: Aug 25 at 9:10AM
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 Select
Investment Insights
Based on property information with market context.
This freestanding flex space provides 3,255 square feet of adaptable commercial area on a 1.107-acre site. The interior combines expansive open workspace with private and support rooms, restrooms, storage, and a commercial kitchen or preparation area. Central air, fire alarm protection, and laminate and wood finishes are included. Built in 1939, the building offers a combination of established improvements and flexible interior configuration.
The property is located within Sparta Township’s Economic Development Zone, which supports office, research, warehousing, light industrial, indoor recreation, health club, and other business-related uses. A tree-lined setting, circular drive, driveway, and on-site parking contribute to the site layout. Route 15 and regional transportation corridors provide access for local and regional operations.
The property is located within Sparta Township’s Economic Development Zone, which supports office, research, warehousing, light industrial, indoor recreation, health club, and other business-related uses. A tree-lined setting, circular drive, driveway, and on-site parking contribute to the site layout. Route 15 and regional transportation corridors provide access for local and regional operations.
Key Highlights
- 3,255‑square‑foot freestanding commercial building
- 1.107 AC site with trees and on‑site parking
- Economic Development Zone supports office, research, warehousing, and light industrial uses
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
$36,535
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
6.19%
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%
$730,700
$730.7K
Cap Rate 7%
$521,929
$521.9K
Cap Rate 9%
$405,944
$405.9K
Market Conditions
NOI Build-Up for 3,255 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
$55.5K $17.04/SF
− Vacancy
−$3.3K −$1.01/SF
EGI
$52.2K $16.03/SF
− OpEx
−$15.7K −$4.81/SF
NOI
$36.5K $11.22/SF
Area
Sussex County, NJ
Vacancy
5.90%
Lease Rate
$17.04 /SF/Yr
Expense Ratio
30.00%
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%
$730,700
Cap Rate 7%
$521,929
Cap Rate 9%
$405,944
Alternative Uses
Best Use
Industrial
$521.9K
$456.7K – $608.9K
NOI $36,535 @ 7.0% cap · market cap 6.19%
Second Best
Flex RnD
$475.1K
$415.7K – $554.3K
NOI $33,257 @ 7.0% cap · market cap 5.64%
Theoretical Best
Office A
$849.9K
$743.7K – $991.6K
NOI $59,496 @ 7.0% cap · market cap 10.08%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
130
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 07871, NJ
20,992
Population
8,367
Households
2.5
Avg Household Size
43
Median Age
62%
College-Educated
98%
High-School Grad
38.2 sq mi
ZIP Area
550
Density / Sq Mi
$167,443
Median Household Income
$84,587
Median Earnings
$1,831
Median Rent
$462,900
Median Home Value
Market
Vacancy Rate% for Industrial in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Adaptable commercial building with open workspace, private rooms, storage, and a commercial preparation area.
Where is this flex space located?
The property is located at 409 Woodport Rd #409 Sparta, NJ.
What is the asking price?
The asking price for this property is $590,000.
What are key features of this property?
This property features: 3,255‑square‑foot freestanding commercial building; 1.107 AC site with trees and on‑site parking; Economic Development Zone supports office, research, warehousing, and light industrial uses
