4-Unit Quadplex
For Sale
$610,000
75-77 Main St, Sussex, NJ 07461
MULTI_FAMILY - Sussex Boro, NJ
Property Size2,900 SF
Lot Size0.05 Acres
Price / SF$210.34
Days on Market92
Property Features for 75-77 Main St
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
C-1
Bedrooms
2
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 1, Bedroom 2, Basement, Bathroom 1, Bathroom 3, Bathroom 2
Parking
3
Directions
on Main St
Standard status
Active
Size
2,900 SF
Lot size
0.05 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
7598
Utilities
Sewer type
Public Sewer
Water source
Public
Building Details
Year built
1950
Floors in Building
2
Number of units
4
Roof type
Shingle
Architectural style
Other
Listing Agency:
FAIRCLOUGH REALTORS
(973) 726-7800
Listed By:
MARC WEITZ · License #296166
(973) 726-7800
Added: May 12
Changed: Aug 2
Last Checked: Aug 11 at 10:06PM
MLS# 4026945
Copyright © 2026 Garden State MLS, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 4-unit mixed-use quadplex features two one-bedroom apartments and two retail spaces, arranged for an owner seeking diversified on-site income. The apartments have been recently renovated, and the property also includes a basement storage rental to a separate tenant for additional income. Retail spaces are leased to one retail tenant, with a lease end date of 2030.
Zoned C-1, the property sits on a 0.05-acre lot and includes public water and public sewer, along with gas service. The roof is listed as shingle, with a brand new roof installed in 2026. Water and sewer and gas are paid by the landlord; apartments pay for their own heat (gas), while commercial heat (gas) is paid by the landlord. Room for parking two to three cars is available in the back.
Built in 1950, the property is presented as turnkey and designed to be easy to maintain.
Zoned C-1, the property sits on a 0.05-acre lot and includes public water and public sewer, along with gas service. The roof is listed as shingle, with a brand new roof installed in 2026. Water and sewer and gas are paid by the landlord; apartments pay for their own heat (gas), while commercial heat (gas) is paid by the landlord. Room for parking two to three cars is available in the back.
Built in 1950, the property is presented as turnkey and designed to be easy to maintain.
Key Highlights
- 4‑unit mixed‑use quadplex with two one‑bedroom apartments and two retail spaces
- Two one‑bedroom apartments recently renovated
- Two retail spaces leased to one tenant with lease end in 2030
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
$48,535
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
7.96%
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%
$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
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
$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 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%
$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 7.96%
Second Best
Apartment 5plus
$637.1K
$557.5K – $743.3K
NOI $44,596 @ 7.0% cap · market cap 7.31%
Theoretical Best
Office A
$757.2K
$662.6K – $883.5K
NOI $53,007 @ 7.0% cap · market cap 8.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
326
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
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - C-1 zoned quadplex with two renovated one-bedroom apartments and two leased retail spaces on Main Street.
Where is this quadplex located?
The property is located at 75-77 Main St Sussex, NJ.
What is the asking price?
The asking price for this property is $610,000.
What are key features of this property?
This property features: 4‑unit mixed‑use quadplex with two one‑bedroom apartments and two retail spaces; Two one‑bedroom apartments recently renovated; Two retail spaces leased to one tenant with lease end in 2030
