100 Main St, Unit B, Newton, NJ 07860-2059
- Commercial real estate
- 3,600 SF
- 0.22 lot acres
Current Use by Public Records
- Commercial real estate
Property Details for 100 Main St
- Year built
- 1860
- Construction
- FRAME
- Lot size
- 0.22 lot acres
- Zone code
- T-5
- Property type
- Commercial real estate
- APN
- 15 00007- 07-00007
- APU
- 15000070700007
Sales History
| Date | Price | Buyer | Seller | Deed Type | Mortgage |
|---|---|---|---|---|---|
| Jul 2, 2024 | — | Lin Xing | Lin Xing | Intrafamily Transfer · related | — |
| Aug 28, 2023 | $560,000 | Xing Lin | R&d Networks LLC | Deed | — |
| Aug 10, 2022 | $159,000 | R&d Networks LLC | Charles Ferraiali | Deed | — |
| Apr 17, 2013 | — | Charles Ferraioli | Ferry,thomas | Quit Claim Deed · related | — |
| Feb 25, 2008 | $65,000 | Thomas Ferry | Snook,earl | Grant Deed | $65k · Charles Ferraoili |
Description
This 6-unit apartment building, located at 100 Main St in Newton, NJ (07860), presents a compelling value-add investment opportunity. The property boasts a classic center-hall colonial architectural style, featuring original details such as gliding pocket doors and custom oak trim. Situated on a 0.29-acre lot, this three-story building offers 4,500 to 5,230 square feet of space. Currently operating at 50% occupancy, the property offers significant upside potential with minimal renovations needed. The building is zoned T-5 and was constructed in 1840. The asking price is $874,950, representing a price per unit of $145,825 and a projected 9.00% cap rate with a pro-forma NOI of $79,101. Utilities are partially sub-metered (water for 3 units) and electric is separately metered. The property features a wraparound porch and manicured grounds. Newton, NJ is a highly desirable location with strong rental demand fueled by consistent growth in local employment and commerce. This fee-simple ownership offers a rare chance to acquire a well-located multifamily property with substantial upside potential. The property's strong architectural character and desirable location combine to create a unique investment opportunity in a thriving market.
Value Estimations
-
AI approach
- Method
- Estimation
- Statistic approach
- $480,000
- ML approach
- $520,000
-
CAP approach
- CAP Return
- Estimation
- 6%
- $595,000
- 6.5%
- $550,000
- 7%
- $510,000
Get a detailed, property-specific estimation — fast and free
Location Insight
- Map
- Local Demand
- City
- Newton
- County
- Sussex
- State
- New Jersey
- Longitude
- -74.7553
- Latitude
- 41.0558
- CBSA code
- 35620
- CBSA name
- NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA
