Mixed-Use Property with Office
For Sale
$650,000
89 Main St, Lebanon, NJ 08833
Two office spaces and a rented two-bedroom apartment share a building improved in 2025.
Property Size2,344 SF
Price / SF$277.30
Days on Market16
Property Features for 89 Main St
General Information
Standard status
Active
Size
2,344 SF
Property subtype
Commercial
Zoning
C-LB
Units
Unit Mix
1 x 2BR
Multifamily Units
1
Office Units
2
Additional Details
Highway Access
Yes
Building Details
Building Size
2,344 SF
Year Built
1900
Year Renovated
2025
Buildings
1
Stories
3
Units
3
Listing Agency:
Corcoran Sawyer Smith
(908) 782-0100
Listed By:
Deborah Labbadia
Source:
Cammarotarealestate
Added: Oct 7
Changed: Oct 22
Last Checked: Oct 22 at 2:25PM
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 Corcoran Sawyer Smith
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Investment Insights
Based on property information with market context.
This 2,344-square-foot mixed-use property, built in 1900, contains two professional office suites and a two-bedroom apartment. One office occupies two floors and has a private bathroom, split-system heating and air conditioning, fresh paint, and LED lighting; it is leased to a long-term tenant. The other office has four rooms, a kitchenette, private bathroom, refinished floors, split-system air conditioning, and baseboard heat. It is vacant, and the property is zoned C-LB. The apartment has a separate entrance and was updated with a renovated kitchen, new cabinets and appliances, new flooring, and a washer and dryer. The apartment is rented.
Work completed in 2025 includes a new roof, siding, electrical panel, Trex front porch, and split-system air conditioning, along with office and apartment updates. The property has a rear parking area accessed by a shared driveway, an unfinished basement, walk-in attic, and direct access to a town park. Routes 78 and 22 are minutes away. Tenants pay gas; the owner covers water, sewer, garbage, and property taxes.
Work completed in 2025 includes a new roof, siding, electrical panel, Trex front porch, and split-system air conditioning, along with office and apartment updates. The property has a rear parking area accessed by a shared driveway, an unfinished basement, walk-in attic, and direct access to a town park. Routes 78 and 22 are minutes away. Tenants pay gas; the owner covers water, sewer, garbage, and property taxes.
Key Highlights
- 2,344‑square‑foot mixed‑use building with two office suites and a two‑bedroom apartment
- One office is leased to a long‑term tenant; the second office and apartment are vacant and rented, respectively
- 2025 improvements include a new roof, siding, electrical panel, Trex front porch, and split‑system A/C
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$36,046
Cap Rate
5.55%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$720,920
$720.9K
Cap Rate 7%
$514,943
$514.9K
Cap Rate 9%
$400,511
$400.5K
Market Conditions
NOI Build-Up for 2,344 SF
Gross rent
$70.3K $30.00/SF
− Vacancy
−$4.8K −$2.04/SF
EGI
$65.5K $27.96/SF
− OpEx
−$29.5K −$12.58/SF
NOI
$36.0K $15.38/SF
Area
Hunterdon County, NJ
Vacancy
6.80%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$720,920
Cap Rate 7%
$514,943
Cap Rate 9%
$400,511
Alternative Uses
Best Use
Apartment 5plus
$514.9K
$450.6K – $600.8K
NOI $36,046 @ 7.0% cap · market cap 5.55%
Second Best
Office B
$512.3K
$448.3K – $597.7K
NOI $35,863 @ 7.0% cap · market cap 5.52%
Theoretical Best
Office A
$612.1K
$535.6K – $714.1K
NOI $42,845 @ 7.0% cap · market cap 6.59%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
2
Office units
1
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
397
Businesses Nearby
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Business Placement
Demographics for 08833, NJ
9,117
Population
3,682
Households
2.5
Avg Household Size
49
Median Age
59%
College-Educated
98%
High-School Grad
34.9 sq mi
ZIP Area
261
Density / Sq Mi
$163,500
Median Household Income
$80,752
Median Earnings
$1,811
Median Rent
$575,400
Median Home Value
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Market
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Two office spaces and a rented two-bedroom apartment share a building improved in 2025.
Where is this mixed-use property located?
The property is located at 89 Main St Lebanon, NJ.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: 2,344‑square‑foot mixed‑use building with two office suites and a two‑bedroom apartment; One office is leased to a long‑term tenant; the second office and apartment are vacant and rented, respectively; 2025 improvements include a new roof, siding, electrical panel, Trex front porch, and split‑system A/C
