Building Details

Year Built 1994

Listing Agency: C-21 JOHN ANTHONY c***@hotmail.com Show Phone

Listed By: ANTONIA LAZZARO

Source: Corcoran

Added: Jan 9 Changed: Aug 21 Last Checked: Aug 14 at 7:22AM

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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 C-21 JOHN ANTHONY

Investment Insights

Based on property information with market context.

This well-maintained mixed-use property is situated in a prime location. The first floor is currently configured as a karate studio, featuring a 29 x 25 open floor room, two separate waiting rooms, two private offices, a finished basement with hardwood floors, front and back entrances, and a powder room. The second floor comprises an apartment with a 20 x 20 great room with a high ceiling, a full bathroom, a laundry room, a bright kitchen with a balcony, and a private entrance. This property presents an opportunity for investors or owner-occupiers seeking an income-producing space. The property has a good rent history, and the current tenants are willing to stay. The zoning is B-1-20 (village business, basic retail), and buyers should verify this. A large detached garage and over 14 parking spaces are available on site. This is an opportunity to establish a business, with proximity to the Gillette train station and a major highway. Updates include the roof, electrical box, and second-floor A/C in 2025, and the driveway/parking area in 2022. The property size is 3500 square feet.

Key Highlights

• Prime location mixed‑use property suitable for investors or owner‑occupiers.
• Income‑producing first‑floor commercial space with established tenants.
• Large detached garage with over 14 parking spaces.

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

$25,696

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

3.27%

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%

$513,920 $513.9K

Cap Rate 7%

$367,086 $367.1K

Cap Rate 9%

$285,511 $285.5K

Market Conditions

NOI Build-Up for 3,500 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

$47.0K $13.44/SF

− Vacancy

−$5.9K −$1.69/SF

EGI

$41.1K $11.75/SF

− OpEx

−$15.4K −$4.40/SF

NOI

$25.7K $7.34/SF

Area

Morris County, NJ

Vacancy

12.60%

Lease Rate

$13.44 /SF/Yr

Expense Ratio

37.50%

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%

$513,920

Cap Rate 7%

$367,086

Cap Rate 9%

$285,511

Alternative Uses

Best Use

Mixed Use

$367.1K

$321.2K – $428.3K (±1% cap)

NOI $25,696 @ 7.0% cap · market cap 3.27%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$913.9K

$799.7K – $1.07M (±1% cap)

NOI $63,974 @ 7.0% cap · market cap 8.15%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Chu's Academy of Martial ... Training Center

Suggested Use

Top Pick Real Estate Agency Building Supply Law Firm Restaurant Auto Repair Shop Hair Salon

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

143

Businesses Nearby

Explore this area Business Placement

Demographics for 07933, NJ

3,091

Population

1,163

Households

2.7

Avg Household Size

46

Median Age

69%

College-Educated

93%

High-School Grad

5.3 sq mi

ZIP Area

583

Density / Sq Mi

$162,538

Median Household Income

$68,627

Median Earnings

$638,000

Median Home Value

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Frequently Asked Questions

What type of property is this?

Mixed-use property - Well-maintained mixed-use property with income potential and convenient location.

Where is this mixed-use property located?

The property is located at 630 Valley Rd Gillette, NJ.

What is the asking price?

The asking price for this property is $785,000.

What are key features of this property?

This property features: Prime location mixed‑use property suitable for investors or owner‑occupiers.; Income‑producing first‑floor commercial space with established tenants.; Large detached garage with over 14 parking spaces.