Updated Single-Story Medical
For Sale
$799,000
80 Mill St, Newton, NJ 07860
Renovated professional facility with adaptable rooms, separate entrances, dedicated parking, and an additional rear building.
Property Size4,000 SF
Price / SF$199.75
Days on Market262
Property Features for 80 Mill St
General Information
Standard status
Active
Size
4,000 SF
Total Parking Spaces
26
Property subtype
Commercial
Additional Details
Utilities to Site
Yes
Taxes and HOA fees
Annual Taxes
$20,095
Amenities
Central air
Asphalt Shingle Roof
Blacktop Driveway
Central Air Cooling
Forced Hot Air Heating
Level Lot
Open Lot
Parking Lot-Exclusive
Building Details
Year Built
1938
Buildings
2
Stories
1
Listing Agency:
KISTLE REALTY, LLC.
(973) 250-3299
Listed By:
DEBRA KISTLE · License #293810
Source:
Corcoran
Added: Nov 20, 2025
Changed: Aug 9
Last Checked: Aug 9 at 1:58PM
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 KISTLE REALTY, LLC.
Investment Insights
Based on property information with market context.
This renovated single-story medical office provides a flexible interior arrangement with multiple private offices, treatment or conference rooms, two reception areas, waiting rooms, a kitchen area, and a large open room that can be configured to suit operational needs. Multiple exterior entrances support separate access arrangements, while handicap accessibility, two bathrooms, public water and sewer, and natural gas service add practical functionality. The property was originally built in 1938 and includes a secondary building at the rear that can serve as storage or be refurbished for additional office, professional, or medical space.
Located at 80 Mill St in Newton Town, the property sits one block from the center of Newton on a well-traveled street. Exterior signage provides business exposure, and 26 dedicated parking spaces accommodate visitors and staff.
Located at 80 Mill St in Newton Town, the property sits one block from the center of Newton on a well-traveled street. Exterior signage provides business exposure, and 26 dedicated parking spaces accommodate visitors and staff.
Key Highlights
- 26 dedicated parking spaces
- Multiple private offices, treatment or conference rooms, reception areas, and waiting rooms
- Two reception areas and two bathrooms
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
$61,200
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
7.66%
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%
$1,224,000
$1.2M
Cap Rate 7%
$874,286
$874.3K
Cap Rate 9%
$680,000
$680.0K
Market Conditions
NOI Build-Up for 4,000 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
$120.0K $30.00/SF
− Vacancy
−$38.4K −$9.60/SF
EGI
$81.6K $20.40/SF
− OpEx
−$20.4K −$5.10/SF
NOI
$61.2K $15.30/SF
Area
Sussex 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 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%
$1,224,000
Cap Rate 7%
$874,286
Cap Rate 9%
$680,000
Alternative Uses
Best Use
Office B
$874.3K
$765.0K – $1.02M
NOI $61,200 @ 7.0% cap · market cap 7.66%
Second Best
Healthcare Medical
$850.8K
$744.5K – $992.6K
NOI $59,558 @ 7.0% cap · market cap 7.45%
Theoretical Best
Office A
$1.04M
$913.9K – $1.22M
NOI $73,114 @ 7.0% cap · market cap 9.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
947
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 07860, NJ
25,704
Population
11,473
Households
2.2
Avg Household Size
46
Median Age
40%
College-Educated
95%
High-School Grad
100.2 sq mi
ZIP Area
257
Density / Sq Mi
$104,113
Median Household Income
$53,509
Median Earnings
$1,437
Median Rent
$336,600
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Renovated professional facility with adaptable rooms, separate entrances, dedicated parking, and an additional rear building.
Where is this medical office space located?
The property is located at 80 Mill St Newton, NJ.
What is the asking price?
The asking price for this property is $799,000.
What are key features of this property?
This property features: 26 dedicated parking spaces; Multiple private offices, treatment or conference rooms, reception areas, and waiting rooms; Two reception areas and two bathrooms
