Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    309 S Main St Phillipsburg, NJ 8865

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    Income-producing commercial property with redevelopment and contractor site potential.

    Type:Land, Retail
    Property size:
    7,000 SF
    Lot size:
    0.63 Acres
    Added:
    Nov 19, 2024
    Days on Market:
    515
    Last Refresh:
    Mar 17 at 1:13 pm

    Property Features for 309 S Main St

    General Information

    Standard status
    Active
    Size
    7,000 SF
    Lot size
    0.63 Acres
    Property subtype
    Land, Retail

    We can help!

    Listing Contact
    Joe Paranee

    Listing agent Joe Paranee License #RB068724

    Listing office Paranee Property Management

    Listing date Nov 19, 2024

    Source Crexi

    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 Paranee Property Management

    Overview

    Commercial Parcel with Redevelopment Potential

    This commercial parcel, totaling approximately 0.63 acres, presents opportunities for contractors and redevelopment. The site is currently income-producing and includes approximately 7000 square feet of office, storage, and garage space distributed across three separate buildings. Additional storage is available via a Quonset hut and sheds, along with an outside racking system. The warehouse is equipped with a loading dock. One of the buildings, designated 309 A, is currently leased as office space. The property may offer rail access and is located in close proximity to Interstate 78 and Route 22.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Phillipsburg
    County
    Warren
    State
    New Jersey
    Longitude
    -75.1948502
    Latitude
    40.6869691

    Nearby Similar for Sale

    • $599,900
      6,548 SF

      Phillipsburg Office Building For Sale

      6,548 SF office building suited for medical or professional use.
      1000 Coventry Dr, Lopatcong Twp., NJ 08865-1980
      View Details
    • $375,000

      Phillipsburg Multi-Family Investment Opportunity

      Two-unit property near schools and highways, ideal for investors.
      575 Memorial Pkwy, Phillipsburg Town, NJ 08865-1533
      View Details
    • $199,000
      1,828 SF

      Alpha Boro Commercial Opportunity

      Corner lot with flexible space and detached garage/workshop.
      201 3rd Ave, Alpha Boro, NJ 08865-4308
      View Details
    • $399,000

      Two-Family Home on Corner Lot

      Two-family home with updated unit and fenced yard.
      5 Park Sq, Lopatcong Twp., NJ 08865-1332
      View Details
    • $250,000

      Income-Producing Two-Family Home

      Turnkey, well-maintained two-family home with income potential.
      43 Miller St, Phillipsburg Town, NJ 08865-2540
      View Details
    • $599,900
      6,548 SF

      Phillipsburg Office Building For Sale

      6,548 SF office building suited for medical or professional use.
      1000 Coventry Dr, Lopatcong Twp., NJ 08865
      View Details
    • $650,000

      Phillipsburg Church and School Facility

      Multi-use religious and educational complex in Phillipsburg, New Jersey.
      278 Chambers St, Phillipsburg, NJ 08865-2969
      View Details
    • $8,500,000
      74,000 SF

      74,000 SF Industrial Facility

      Industrial facility ideal for manufacturing, distribution, and warehousing.
      Harmony Twp., NJ 08865
      View Details
    • $199,000
      1,828 SF

      Corner Property with Detached Garage

      Flexible commercial space with garage near downtown Easton, PA.
      201 3rd Ave, Alpha Boro, NJ 08865
      View Details
    • Contact for pricing
      8,500 SF

      Historic Brick Building in Phillipsburg

      Former school building with redevelopment potential in a growing community.
      1 Fairview Ave, Phillipsburg, NJ 08865
      View Details
    • $300,000
      9,999 SF

      Phillipsburg Duplex with Income Potential

      Up/down duplex in Phillipsburg with owned solar panels.
      530 South Main Street, Phillipsburg, NJ 08865
      View Details
    • Contact for pricing
      8,500 SF

      Historic Brick Building For Sale

      Former school building with redevelopment potential in revitalizing Phillipsburg.
      1 Fairview Ave, Phillipsburg, NJ 08865
      View Details

    FAQs

    What type of property is this?
    Commercial land - Income-producing commercial property with redevelopment and contractor site potential.
    Where is this commercial land located?
    The property is located at 309 S Main St Phillipsburg, NJ.
    What is the asking price?
    The asking price for this property is $695,000.
    What are key features of this property?
    This property features: Income‑producing commercial parcel with leased office space.; Large .63 +/- acre site suitable for contractors or redevelopment.; Substantial storage capacity: 7000 +/- sq ft in 3 buildings, plus Quonset hut, sheds, and outside racking.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Joe Paranee
    Real Estate License ID: RB068724
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!