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Property summary
A 20,000-square-foot brick mixed-use building occupies 1.51 acres and was originally constructed in 1885 as a silk mill. The property is sited on Washington Forge Pond with a dam alongside the structure and includes office spaces ranging from approximately 250 to 4,500 square feet, along with a restaurant space that was historically operated with a liquor license. The building features 14-foot ceilings, exposed brick walls, and column spacing measuring approximately 15 to 25 inches. A second level provides potential for conversion to residential rentals or condominiums. An easement exists for a decommissioned water tower that is licensed for cellular antenna use. The site includes 50 surface parking spaces and is located near Routes 80, 46, and 15, with access to the Dover and Mt. Arlington Train Stations and NYC bus service. The restaurant includes a security system and sprinkler system. Zoning is designated as CBD & Res.
Property profile
VerifiedCap rate & NOI
Current use
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Gym & Fitness Center
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Corporate Office
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Restaurant
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Corporate Office
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Crisis Center Medical Clinic
Location
Value estimations
Owner & transaction history
Zoning & alternative use
e authorized by subdivision approval. G. Number of buildings restricted. (1) There shall be no more than one principal building on each lot except as permitted for in the following districts and as regulated herein. (a)…
Comparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
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Value estimation
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from $99/month
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
from $99/month
Derived from the Wharton market rent, vacancy and expense benchmarks for this use type.
Price sensitivity
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Property tax & assessments
Tax year 2022Property description
Physical attributes from public recordsZoning & alternative use
I-1 · Wharton, NJe authorized by subdivision approval. G. Number of buildings restricted. (1) There shall be no more than one principal building on each lot except as permitted for in the following districts and as regulated herein. (a)…
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
Official district profile
e authorized by subdivision approval. G. Number of buildings restricted. (1) There shall be no more than one principal building on each lot except as permitted for in the following districts and as regulated herein. (a)…
What can be built and operated here — officially.
The district profile from the municipal source: what is on file for I-1 in Wharton, NJ.
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