In-Town Office and Residential
For Sale
$1,599,000
Main St, West Orange, NJ 07052
Updated multi-use building with office space and residential flexibility under B2 zoning, plus skylit entry and three HVAC systems.
Property Size3,800 SF
Price / SF$420.79
Days on Market187
Property Features for Main St
General Information
Standard status
Active
Size
3,800 SF
Property subtype
Mixed Use
Zoning
B2
Additional Details
Office Units
2
Taxes and HOA fees
Annual Taxes
$16,394
Amenities
fireplace
skylights
wheelchair-accessible ramp
Central Air
Wood
3
Asphalt Shingle
55X127-53X168, 55X127-53X168
Central Business District.
Building Details
Year Built
1960
Listing Agency:
COMPASS NEW JERSEY LLC
(973) 310-7360
Listed By:
CHRISTINE R LANE
Source:
Xome
Added: Feb 4
Changed: Aug 8
Last Checked: Aug 9 at 5:15AM
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 COMPASS NEW JERSEY LLC
Investment Insights
Based on property information with market context.
This extensively updated in-town building offers a versatile layout with B2 zoning, allowing for both commercial and residential use. An impressive entry foyer with skylights sets the tone, and the property includes three separate heating and cooling systems, newer windows, and recent improvements such as a newer roof, fencing, and a paved parking lot.
The first floor includes a fireplace and a wheelchair-accessible ramp. The second floor provides two spacious suites, each over 1,000 square feet, with four bathrooms in total. For added functionality, a large garage with two oversized doors supports storage, vehicles, or specialized use.
Overall, the property combines professional office potential with residential configuration options, complemented by modern building updates and practical exterior improvements including paved parking.
The first floor includes a fireplace and a wheelchair-accessible ramp. The second floor provides two spacious suites, each over 1,000 square feet, with four bathrooms in total. For added functionality, a large garage with two oversized doors supports storage, vehicles, or specialized use.
Overall, the property combines professional office potential with residential configuration options, complemented by modern building updates and practical exterior improvements including paved parking.
Key Highlights
- B2 zoning allows commercial and residential use, offering flexible multi‑use potential.
- Updated multi‑use building with central air, wood flooring, and a skylit entry foyer.
- Three separate heating and cooling systems, plus newer windows.
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
$63,597
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
3.98%
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%
$1,271,940
$1.3M
Cap Rate 7%
$908,529
$908.5K
Cap Rate 9%
$706,633
$706.6K
Market Conditions
NOI Build-Up for 3,800 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
$97.1K $25.56/SF
− Vacancy
−$6.3K −$1.65/SF
EGI
$90.9K $23.91/SF
− OpEx
−$27.3K −$7.17/SF
NOI
$63.6K $16.74/SF
Area
Essex 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%
$1,271,940
Cap Rate 7%
$908,529
Cap Rate 9%
$706,633
Alternative Uses
Best Use
Multifamily LT 5
$908.5K
$795.0K – $1.06M
NOI $63,597 @ 7.0% cap · market cap 3.98%
Second Best
Apartment 5plus
$834.8K
$730.5K – $973.9K
NOI $58,436 @ 7.0% cap · market cap 3.65%
Theoretical Best
Office A
$992.3K
$868.2K – $1.16M
NOI $69,458 @ 7.0% cap · market cap 4.34%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Office units
Location Intelligence
Trade Area within ½ mile
1,727
Businesses Nearby
Explore this area
Business Placement
Demographics for 07052, NJ
48,867
Population
18,300
Households
2.7
Avg Household Size
42
Median Age
53%
College-Educated
92%
High-School Grad
12.0 sq mi
ZIP Area
4,072
Density / Sq Mi
$131,456
Median Household Income
$63,458
Median Earnings
$1,791
Median Rent
$527,200
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?
Quadplex - Updated multi-use building with office space and residential flexibility under B2 zoning, plus skylit entry and three HVAC systems.
Where is this quadplex located?
The property is located at Main St West Orange, NJ.
What is the asking price?
The asking price for this property is $1,599,000.
What are key features of this property?
This property features: B2 zoning allows commercial and residential use, offering flexible multi‑use potential.; Updated multi‑use building with central air, wood flooring, and a skylit entry foyer.; Three separate heating and cooling systems, plus newer windows.
