Corner Property with Development
For Sale
Contact for pricing
64 Filmore St, Phillipsburg, NJ 08865
Versatile corner property with garage, basement, and endless possibilities.
Property Size1,600 SF
Price / SF$187.44
Days on Market181
Property Features for 64 Filmore St
General Information
Standard status
Active
Size
1,600 SF
Property subtype
Retail
Zoning
R-50
Investment Type
Owner/User
Listing Agency:
RE/MAX Supreme
Listed By:
Mark Scuderi · License #NJ 0337250
Source:
Crexi
Added: Feb 13
Changed: Aug 8
Last Checked: Aug 11 at 1:26PM
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 RE/MAX Supreme
Investment Insights
Based on property information with market context.
This corner property in Warren County offers flexibility for investors, business owners, or owner-occupants. Zoned R-50/R-75, it allows for both commercial and residential use, opening possibilities for various permitted uses. The building features soaring 20 ft ceilings (approximate), a full basement for storage or expansion, and a detached one-car garage with off-street parking. A new roof was installed in 2024. The property, with a size of 1600 square feet, is currently vacant and ready for renovation, repositioning, or occupancy, subject to site plan approval depending on the intended use. Previously approved for laundromat use, the space presents value-add potential for retail, office, service business, live-work conversion, or possible single-family redevelopment. It is ideal for investors, contractors, entrepreneurs, or 1031 exchange buyers seeking a versatile asset. The property offers opportunities with zoning flexibility.
Key Highlights
- Rare corner property with flexible R‑50/R‑75 zoning allowing for commercial or residential use.
- High ceilings (approximately 20 ft) offering expansion or creative design opportunities.
- Full basement provides ample storage or additional expansion potential.
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
$23,144
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
7.72%
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%
$462,880
$462.9K
Cap Rate 7%
$330,629
$330.6K
Cap Rate 9%
$257,156
$257.2K
Market Conditions
NOI Build-Up for 1,600 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
$47.2K $29.52/SF
− Vacancy
−$10.2K −$6.38/SF
EGI
$37.0K $23.14/SF
− OpEx
−$13.9K −$8.68/SF
NOI
$23.1K $14.46/SF
Area
Warren County, NJ
Vacancy
21.60%
Lease Rate
$29.52 /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%
$462,880
Cap Rate 7%
$330,629
Cap Rate 9%
$257,156
Alternative Uses
Best Use
Mixed Use
$330.6K
$289.3K – $385.7K
NOI $23,144 @ 7.0% cap · market cap 7.72%
Second Best
Retail
$262.7K
$229.8K – $306.4K
NOI $18,386 @ 7.0% cap · market cap 6.13%
Theoretical Best
Warehouse
$603.6K
$528.2K – $704.2K
NOI $42,254 @ 7.0% cap · market cap 14.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
964
Businesses Nearby
21k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Sunoco
Shops & Services
19,738 visits/mo
0.4 miles
Mavis Discount Tire
Shops & Services
1,573 visits/mo
0.4 miles
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
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - Versatile corner property with garage, basement, and endless possibilities.
Where is this mixed-use property located?
The property is located at 64 Filmore St Phillipsburg, NJ.
What is the asking price?
The asking price for this property is $299,900.
What are key features of this property?
This property features: Rare corner property with flexible R‑50/R‑75 zoning allowing for commercial or residential use.; High ceilings (approximately 20 ft) offering expansion or creative design opportunities.; Full basement provides ample storage or additional expansion potential.
