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    120-122 High St Newton, NJ 07860
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    Property profile & analytics

    120-122 High St, Newton, NJ 07860

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    • Commercial real estate
    • 0.29 lot acres
    Off-Market
    Property ID
    US59-1837365
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Commercial real estate

    Property Details for 120-122 High St

    Lot size
    0.29 lot acres
    Property type
    Commercial real estate

    Description

    This exceptional two-story apartment building, located at 120-122 High Street in Newton, New Jersey, presents a compelling investment opportunity. The property sits on a 0.29-acre lot and comprises a single building housing four units: two two-bedroom, one-bathroom apartments and two one-bedroom, one-bathroom apartments. Currently operating at 100% occupancy, this multifamily property generates a strong cash flow with long-term tenants. Modern updates ensure consistent tenant satisfaction. The property includes eight off-street parking spaces, four of which are separate garage spaces rented independently. A shared backyard provides tenants with outdoor space. Its convenient location in historic Newton offers easy access to schools, shopping, and public transportation, contributing to high rental demand. The property boasts a strong rental history with minimal vacancies, making it an attractive addition to any investment portfolio. The asking price for this turnkey investment is $650,000. The property's zip code is 07860, and it is situated in Sussex County.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Newton
    County
    Sussex
    State
    New Jersey
    Longitude
    -74.760342780566
    Latitude
    41.056636900155

    Comparable in this City

    • $380,000
      4,096 SF

      Renovated Office Building in Newton

      Newly renovated office building with flexible configuration options and excellent visibility.
      11 High St, Newton, NJ 07860
      View Details
    • $634,900
      3,794 SF

      Upgraded Brick Building in Newton

      Three-story building suitable for office, daycare, senior care, or multifamily.
      14 Church St, Newton, NJ 07860
      View Details
    • Contact for pricing

      Approved Apartment Project in Newton

      Approved apartment project for sale in Newton, New Jersey.
      200 Spring St, Newton, NJ 07860
      View Details
    • New
      $490,000
      2,498 SF

      Multi-Family Property on Wooded Lot

      Two-unit multi-family property on a private 2.3-acre wooded lot.
      950 Mount Benevolence Rd, Newton, NJ 07860
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    • $475,000

      Well-Kept Two-Family Home

      Two-family home near downtown Newton with separate utilities.
      88 Trinity St, Newton, NJ 07860
      View Details

    Similar Nearby for Sale

    • $380,000
      4,096 SF

      Renovated Office Building in Newton

      Newly renovated office building with flexible configuration options and excellent visibility.
      11 High St, Newton, NJ 07860
      View Details
    • Contact for pricing

      Approved Apartment Project in Newton

      Approved apartment project for sale in Newton, New Jersey.
      200 Spring St, Newton, NJ 07860
      View Details
    • $634,900
      3,794 SF

      Upgraded Brick Building in Newton

      Three-story building suitable for office, daycare, senior care, or multifamily.
      14 Church St, Newton, NJ 07860
      View Details
    • Contact for pricing

      Spacious Multi-Family Property

      Two-unit property on 2.3 acres in Stillwater Township.
      950 Mount Benevolence Rd, Newton, NJ 07860
      View Details
    • New
      $490,000
      2,498 SF

      Multi-Family Property on Wooded Lot

      Two-unit multi-family property on a private 2.3-acre wooded lot.
      950 Mount Benevolence Rd, Newton, NJ 07860
      View Details

    Similar Nearby for Lease

    • $2,300 /Mo

      Spacious Apartment in Newton, NJ

      Well-kept 2-bedroom apartment near downtown Newton amenities.
      88 Trinity St, Newton, NJ 07860
      View Details
    • $1,800 /Mo

      Updated Apartment Near Newton Center

      Spacious 2-bedroom apartment with modern amenities and convenient location.
      83 High St, Newton, NJ 07860
      View Details
    • $12 SF/Yr

      Renovated Studio in Downtown Newton

      Charming, renovated studio apartment in the heart of downtown Newton.
      180 Spring St, Newton, NJ 07860
      View Details
    • $1,695 /Mo

      Renovated Apartment on Spring Street

      Spacious, renovated first-floor apartment near shopping, dining, and transportation.
      196 Spring St, Newton, NJ 07860
      View Details
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    Newton, NJ 07860
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    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.

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