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    170 Main St Wharton, NJ 07885-1609
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    Property profile & analytics

    170 Main St Wharton, NJ 07885-1609

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    • Industrial properties
    • 2.95 lot acres
    Off-Market
    Last Sale May 15, 2025
    $2,445,000
    Property ID
    US59-1752446
    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
    $2,355,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Industrial properties

    Property Details for 170 Main St

    Lot size
    2.95 lot acres
    Zone code
    I-1
    Property type
    Industrial properties
    APN
    39 00301-0000-00001
    APU
    3900301000000001

    Description

    This exceptional 2.95-acre site in Wharton, NJ, presents a prime development opportunity. Located at 170 N Main St, this property boasts fully approved zoning (Planned Industrial (I-1) Main Street District Overlay (170 N.)) for a 75-unit mixed-use building, encompassing approximately 103,000 square feet. The approved plans include roughly 9,200 square feet of retail space, catering to a diverse range of needs. Its strategic location just off Christopher Columbus Highway offers stunning waterfront views of Washington Pond, enhancing its appeal. The property benefits from its proximity to major national retailers such as Costco, Target, Home Depot, and Best Buy at the nearby Rockaway Townsquare, ensuring high visibility and convenient access. Furthermore, its location near the recently completed 250-unit Avalon Wharton luxury residential development underscores the area's desirability and growth potential. This fully entitled project represents a unique chance to capitalize on the increasing demand for new residential construction in a thriving market. The property's zoning and location make it an ideal investment for developers seeking a high-impact project in a desirable New Jersey location. The address is 170 N Main St, Wharton, NJ 07885.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $2,240,000
      ML approach
      $2,295,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Wharton
    County
    Morris
    State
    New Jersey
    Longitude
    -74.5774
    Latitude
    40.9049
    CBSA code
    35620
    CBSA name
    NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2022
    $44,136
    $1,477,000
    $100
    $1,477,100
    -
    $1,477,000
    $100
    $1,477,100

    Comparable in this City

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      High St

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    • Value Estimation
      $9,910,000
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      321 Richard Mine Rd

      INDUSTRIAL (GENERAL) • 80,800 SF
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      $1,095,000
      11,063 SF

      Berkshire Vly Rd

      INDUSTRIAL (GENERAL) • 11,063 SF
      Berkshire Vly Rd, Wharton, NJ 07885
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    • Value Estimation by Request
      2,520 SF

      Dewey Ave

      INDUSTRIAL (GENERAL) • 2,520 SF
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    • Value Estimation by Request
      11.07 Acres

      105 Dewey Ave Ste, Unit 220

      INDUSTRIAL (GENERAL) • 11.07 Acres
      105 Dewey Ave Ste, Wharton, NJ 07885-1642
      View Details
    • Value Estimation
      $3,120,000
      22,296 SF

      Rte 15

      INDUSTRIAL (GENERAL) • 22,296 SF
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    Similar Nearby for Sale

    • $2,800,000
      20,000 SF

      Mixed-Use Building with Liquor License

      20,000 sq ft mixed-use building with restaurant and offices.
      175 N Main St, Wharton, NJ 07885
      View Details
    • $699,900
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      Charming Two-Family Home in Wharton

      Versatile 2-family home, ideal for investors or owner-occupants.
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    • $1,900,000
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      High-Income Multifamily Investment Property

      Six-unit multifamily property with garages in downtown Wharton, New Jersey.
      281 S Main St, Wharton, NJ 07885
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    • $300,000
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      Commercial Property in Wharton Borough

      Long-established commercial property in thriving Wharton Borough, Morris County, New Jersey.
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    • Contact for pricing
      1,296 SF

      Main Street Mixed-Use Property

      Mixed-use property with storefront and residential unit on Main Street.
      5 N Main St, Wharton, NJ 07885
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      37,820 SF

      Warehouse/Manufacturing Space Available

      Sublease available through 12/31/31 with warehouse and office space.
      321 Richard Mine Rd, Rockaway, NJ 07885
      View Details
    • Contact for pricing
      75,524 SF

      892,006 SF Warehouse Space

      Large warehouse with convenient access to major highways.
      80-98 N Main St, Wharton, NJ 07885
      View Details
    • Contact for pricing

      Warehouse Space Near Major Routes

      Warehouse space with office near Routes 15, 80, and 46.
      Wharton, NJ 07885
      View Details
    • Contact for pricing
      13,312 SF

      Warehouse Space Available For Lease

      Two warehouse suites available for lease.
      319 Richard Mine Rd, Wharton, NJ 07885
      View Details
    • $2,000 /Mo

      Renovated Mixed-Use Commercial Space

      Updated office/retail space with parking in high-traffic area.
      354 S Main St, Wharton, NJ 07885
      View Details
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    Wharton, NJ 07885-1609
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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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