Two-Story Flex Building with
For Sale
$899,000
Us 46 Hwy, Columbia, NJ 07832
Two-story flex property with a finished first floor, unfinished second floor, and a 30x75 metal frame garage.
Property Size3,360 SF
Price / SF$267.56
Days on Market128
Property Features for Us 46 Hwy
General Information
Standard status
Active
Size
3,360 SF
Property subtype
Mixed Use
Zoning
C-1
Site & Location
Highway Access
Yes
Road Access
Yes
Taxes and HOA fees
Annual Taxes
$9,426
Amenities
3
Tile
Asphalt Shingle
Corner Lot.
Water
2.42 AC, 2.42 AC
Corner, Highway Access.
Building Details
Year Built
1999
Stories
2
Listing Agency:
CASTELLO REALTY
(908) 838-9550
Listed By:
FRANK BOCCUZZI
Source:
Xome
Added: Apr 8
Changed: Aug 12
Last Checked: Aug 12 at 3:21AM
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 CASTELLO REALTY
Investment Insights
Based on property information with market context.
This two-story flex property includes a finished first floor ready for immediate use and an unfinished second floor that offers value-add flexibility. Electric and plumbing have already been permitted and installed for the second floor, supporting potential conversion to either residential apartment use or additional office suites. The exterior features a large asphalt parking area and a 30x75 metal frame garage with a concrete floor and oversized doors on both ends.
The site is a high-visibility corner lot on Route 46 N in the Commercial C-1 Zone, with a direct view of the Delaware River. The property is located less than a mile from I-80 and benefits from ongoing vehicle traffic, with a newly opened gas station and convenience store adjacent to the site.
With capacity to park over 30 vehicles and additional room to expand the current footprint or develop further, the property supports a range of practical commercial storage and work-focused uses.
The site is a high-visibility corner lot on Route 46 N in the Commercial C-1 Zone, with a direct view of the Delaware River. The property is located less than a mile from I-80 and benefits from ongoing vehicle traffic, with a newly opened gas station and convenience store adjacent to the site.
With capacity to park over 30 vehicles and additional room to expand the current footprint or develop further, the property supports a range of practical commercial storage and work-focused uses.
Key Highlights
- C‑1 zoned two‑story commercial/flex property with unfinished second floor for conversion or expansion.
- Situated on a 2.42‑acre corner lot on Route 46 N with highway access and a direct view of the Delaware River.
- Finished first floor is ready for immediate use; electric and plumbing are already permitted and installed for the second floor.
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
$73,075
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
8.13%
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%
$1,461,500
$1.5M
Cap Rate 7%
$1,043,929
$1.0M
Cap Rate 9%
$811,944
$811.9K
Market Conditions
NOI Build-Up for 3,360 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
$112.5K $33.48/SF
− Vacancy
−$8.1K −$2.41/SF
EGI
$104.4K $31.07/SF
− OpEx
−$31.3K −$9.32/SF
NOI
$73.1K $21.75/SF
Area
Warren County, NJ
Vacancy
7.20%
Lease Rate
$33.48 /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%
$1,461,500
Cap Rate 7%
$1,043,929
Cap Rate 9%
$811,944
Alternative Uses
Best Use
Warehouse
$1.27M
$1.11M – $1.48M
NOI $88,734 @ 7.0% cap · market cap 9.87%
Second Best
Industrial
$1.04M
$913.4K – $1.22M
NOI $73,075 @ 7.0% cap · market cap 8.13%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
20
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 07832, NJ
3,800
Population
1,412
Households
2.7
Avg Household Size
48
Median Age
36%
College-Educated
91%
High-School Grad
42.1 sq mi
ZIP Area
90
Density / Sq Mi
$104,358
Median Household Income
$56,369
Median Earnings
$1,756
Median Rent
$326,000
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - Two-story flex property with a finished first floor, unfinished second floor, and a 30x75 metal frame garage.
Where is this flex space located?
The property is located at Us 46 Hwy Columbia, NJ.
What is the asking price?
The asking price for this property is $899,000.
What are key features of this property?
This property features: C‑1 zoned two‑story commercial/flex property with unfinished second floor for conversion or expansion.; Situated on a 2.42‑acre corner lot on Route 46 N with highway access and a direct view of the Delaware River.; Finished first floor is ready for immediate use; electric and plumbing are already permitted and installed for the second floor.
