Main Street Mixed-Use
For Sale
$499,900
5 N Main St, Wharton, NJ 07885
Mixed-use property with storefront and residential unit on Main Street.
Property Size1,296 SF
Lot Size0.06 Acres
Price / SF$385.73
Days on Market147
Property Features for 5 N Main St
General Information
Standard status
Active
Size
1,296 SF
Lot size
0.06 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$8,712
Amenities
Central air
Asphalt Shingle Roof
Baseboard - Hotwater Heating
Multi-Zone Heating
On-Street Parking
Wall A/C Unit(s) Cooling
Building Details
Year Built
1900
Listing Agency:
HOWARD HANNA RAND REALTY
(973) 532-5727
Listed By:
COREY SKAGGS · License #300739
Source:
Corcoran
Added: Mar 19
Changed: Aug 10
Last Checked: Aug 12 at 6:55AM
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 HOWARD HANNA RAND REALTY
Investment Insights
Based on property information with market context.
This mixed-use property is located on Main Street in Wharton, New Jersey. The property includes a storefront property and a residential unit. The residential unit is a 2-bedroom apartment featuring a large eat-in kitchen, laundry facilities, a private backyard, and a patio. The property offers commercial potential and residential comfort. The property size is 1296 square feet.
Key Highlights
- Prime investment opportunity on Main Street.
- Versatile property with commercial and residential units.
- Unit 1: Open storefront property.
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
$18,498
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
3.70%
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%
$369,960
$370.0K
Cap Rate 7%
$264,257
$264.3K
Cap Rate 9%
$205,533
$205.5K
Market Conditions
NOI Build-Up for 1,296 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
$28.0K $21.60/SF
− Vacancy
−$1.6K −$1.21/SF
EGI
$26.4K $20.39/SF
− OpEx
−$7.9K −$6.12/SF
NOI
$18.5K $14.27/SF
Area
Morris County, NJ
Vacancy
5.60%
Lease Rate
$21.60 /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%
$369,960
Cap Rate 7%
$264,257
Cap Rate 9%
$205,533
Alternative Uses
Best Use
Retail
$264.3K
$231.2K – $308.3K
NOI $18,498 @ 7.0% cap · market cap 3.70%
Second Best
Mixed Use
$135.9K
$118.9K – $158.6K
NOI $9,515 @ 7.0% cap · market cap 1.90%
Theoretical Best
Office A
$338.4K
$296.1K – $394.8K
NOI $23,689 @ 7.0% cap · market cap 4.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
455
Businesses Nearby
122k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 68%
Shops & Services 17%
Dining 12%
Home Improvements & Furnishings 2%
ShopRite
Groceries
83,312 visits/mo
0.4 miles
Exxon
Shops & Services
15,245 visits/mo
0.5 miles
Dunkin' Donuts
Dining
11,211 visits/mo
0.5 miles
Manhattan Bagel
Dining
3,876 visits/mo
0.5 miles
BP
Shops & Services
2,873 visits/mo
0.2 miles
Demographics for 07885, NJ
11,521
Population
4,947
Households
2.3
Avg Household Size
42
Median Age
38%
College-Educated
93%
High-School Grad
14.7 sq mi
ZIP Area
784
Density / Sq Mi
$100,903
Median Household Income
$52,325
Median Earnings
$1,961
Median Rent
$345,200
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Mixed-use property with storefront and residential unit on Main Street.
Where is this mixed-use property located?
The property is located at 5 N Main St Wharton, NJ.
What is the asking price?
The asking price for this property is $499,900.
What are key features of this property?
This property features: Prime investment opportunity on Main Street.; Versatile property with commercial and residential units.; Unit 1: Open storefront property.
