Mixed-Use Building with
New
For Sale
$679,000
5 Richards Ave, Dover, NJ 07801
A ground-floor business office is paired with a single-family residence on the upper level.
Property Size3,742 SF
Price / SF$181.45
Days on Market6
Property Features for 5 Richards Ave
General Information
Standard status
Active
Size
3,742 SF
Property subtype
Commercial
Additional Details
Property Use
Office
Taxes and HOA fees
Annual Taxes
$12,323
Amenities
Central air
Asphalt Shingle Roof
1 Car Width
Blacktop Driveway
Central Air Cooling
Forced Hot Air Heating
Level Lot
Multi-Zone Cooling
Multi-Zone Heating
Building Details
Year Built
1900
Listing Agency:
WEICHERT REALTORS
(973) 729-2700
Listed By:
JOSEFF SANTIAGO
Source:
Corcoran
Added: Oct 28
Changed: Nov 1
Last Checked: Nov 1 at 6:04AM
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 WEICHERT REALTORS
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 3,742-square-foot mixed-use building, constructed in 1900, has a business office on the ground floor and a single-family residence above. The upper level was formed by combining two living units, while the original configuration placed a doctor’s office at street level and two residences upstairs.
Key Highlights
- 3,742‑square‑foot mixed‑use building
- Ground‑floor business office
- Single‑family residence on the upper level
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$57,253
Cap Rate
8.43%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,145,060
$1.1M
Cap Rate 7%
$817,900
$817.9K
Cap Rate 9%
$636,144
$636.1K
Market Conditions
NOI Build-Up for 3,742 SF
Gross rent
$112.3K $30.00/SF
− Vacancy
−$35.9K −$9.60/SF
EGI
$76.3K $20.40/SF
− OpEx
−$19.1K −$5.10/SF
NOI
$57.3K $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%
$1,145,060
Cap Rate 7%
$817,900
Cap Rate 9%
$636,144
Alternative Uses
Best Use
Office B
$817.9K
$715.7K – $954.2K
NOI $57,253 @ 7.0% cap · market cap 8.43%
Second Best
Mixed Use
$392.5K
$343.4K – $457.9K
NOI $27,472 @ 7.0% cap · market cap 4.05%
Theoretical Best
Office A
$977.1K
$855.0K – $1.14M
NOI $68,398 @ 7.0% cap · market cap 10.07%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,381
Businesses Nearby
Explore this area
Business Placement
Demographics for 07801, NJ
25,935
Population
9,442
Households
2.7
Avg Household Size
38
Median Age
22%
College-Educated
81%
High-School Grad
13.0 sq mi
ZIP Area
1,995
Density / Sq Mi
$78,053
Median Household Income
$37,316
Median Earnings
$1,747
Median Rent
$369,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Mixed-use property - A ground-floor business office is paired with a single-family residence on the upper level.
Where is this mixed-use property located?
The property is located at 5 Richards Ave Dover, NJ.
What is the asking price?
The asking price for this property is $679,000.
What are key features of this property?
This property features: 3,742‑square‑foot mixed‑use building; Ground‑floor business office; Single‑family residence on the upper level
