Four-Unit Mixed-Use
For Sale
$575,000
75-77 Main St, Sussex, NJ 07461
Renovated apartments, leased retail space, and basement storage create a diversified income-producing configuration.
Property Size2,900 SF
Price / SF$198.28
Days on Market99
Property Features for 75-77 Main St
General Information
Standard status
Active
Size
2,900 SF
Property subtype
Multi-Family
Additional Details
Cap Rate
8%
Utilities to Site
Yes
Building Details
Year Built
1950
Tenancy
Multi
Listing Agency:
FAIRCLOUGH REALTORS
Listed By:
MARC WEITZ · License #296166
(973) 726-7800
Source:
Luminancerealty
Added: Jul 10
Changed: Oct 13
Last Checked: Oct 5 at 9:00PM
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 FAIRCLOUGH REALTORS
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Investment Insights
Based on property information with market context.
This 2,900-square-foot mixed-use property at 75-77 Main St in Sussex Boro was built in 1950 and contains four income-producing units. The residential portion includes two one-bedroom apartments that have been recently renovated. Two retail spaces are leased to one retail tenant through 2030, while the basement is separately rented for storage.
The property sits on Main St, identified as the main thoroughfare through Sussex Boro. Public water and sewer serve the building. The landlord pays water, sewer, and gas; apartment occupants pay their own gas heat, while commercial gas heat remains the landlord’s responsibility. A new roof is scheduled for 2026, and the rear provides parking for two to three cars.
The property sits on Main St, identified as the main thoroughfare through Sussex Boro. Public water and sewer serve the building. The landlord pays water, sewer, and gas; apartment occupants pay their own gas heat, while commercial gas heat remains the landlord’s responsibility. A new roof is scheduled for 2026, and the rear provides parking for two to three cars.
Key Highlights
- Four‑unit mixed‑use property with 2,900 SF
- Two recently renovated one‑bedroom apartments
- Two retail spaces leased to one tenant through 2030
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$48,535
Cap Rate
8.44%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$970,700
$970.7K
Cap Rate 7%
$693,357
$693.4K
Cap Rate 9%
$539,278
$539.3K
Market Conditions
NOI Build-Up for 2,900 SF
Gross rent
$74.1K $25.56/SF
− Vacancy
−$4.8K −$1.65/SF
EGI
$69.3K $23.91/SF
− OpEx
−$20.8K −$7.17/SF
NOI
$48.5K $16.74/SF
Area
Sussex County, NJ
Vacancy
6.46%
Lease Rate
$25.56 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$970,700
Cap Rate 7%
$693,357
Cap Rate 9%
$539,278
Alternative Uses
Best Use
Multifamily LT 5
$693.4K
$606.7K – $808.9K
NOI $48,535 @ 7.0% cap · market cap 8.44%
Second Best
Apartment 5plus
$637.1K
$557.5K – $743.3K
NOI $44,596 @ 7.0% cap · market cap 7.76%
Theoretical Best
Office A
$757.2K
$662.6K – $883.5K
NOI $53,007 @ 7.0% cap · market cap 9.22%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
320
Businesses Nearby
Explore this area
Business Placement
Demographics for 07461, NJ
18,530
Population
7,972
Households
2.3
Avg Household Size
44
Median Age
28%
College-Educated
93%
High-School Grad
83.0 sq mi
ZIP Area
223
Density / Sq Mi
$104,441
Median Household Income
$46,590
Median Earnings
$1,456
Median Rent
$338,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Renovated apartments, leased retail space, and basement storage create a diversified income-producing configuration.
Where is this mixed-use property located?
The property is located at 75-77 Main St Sussex, NJ.
What is the asking price?
The asking price for this property is $575,000.
What are key features of this property?
This property features: Four‑unit mixed‑use property with 2,900 SF; Two recently renovated one‑bedroom apartments; Two retail spaces leased to one tenant through 2030
