Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    223 Main St Hackettstown, NJ 07840-2001

    • Commercial real estate
    • 4,628 SF
    • 0.26 lot acres
    OFF-MARKET
    Last Sale
    Sep 12, 2022
    $998,000
    Value Estimations
    $1,005,000
    Show details
    Cap Rate Potential
    6.3%
    Commercial real estate
    Location Intelligence
    Property ID
    US59-2083204
    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.

    Current Use by Public Records

    • Toscana Trattoria Ristorante Italiano / Italian Restaurant

    Property Details for 223 Main St

    Year built
    1900
    Construction
    FRAME
    Lot size
    0.26 lot acres
    Property size
    4,628 SF
    Zone code
    TCC
    Property type
    Commercial real estate
    APN
    08 00071-0000-00012- 01
    APU
    80007100000001201

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,065,000
      ML approach
      $985,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,115,000
      6.5%
      $1,030,000
      7%
      $955,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Hackettstown
    County
    Warren
    State
    New Jersey
    Longitude
    -74.8268
    Latitude
    40.8522
    CBSA code
    10900
    CBSA name
    ALLENTOWN-BETHLEHEM-EASTON, PA-NJ 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
    $12,811
    $272,000
    $120,500
    $392,500
    -
    $272,000
    $120,500
    $392,500

    Comparable in this City

    • Value Estimation by Request
      7.41 Acres

      1500 Rte

      Commercial real estate • 7.41 Acres
      1500 Rte, Hackettstown, NJ 07840
      View Details
    • Value Estimation by Request

      Rte 46

      COMMERCIAL (GENERAL)
      Rte 46, Hackettstown, NJ 07840
      View Details
    • Value Estimation by Request
      0.04 Acres

      9 Crestwood Ct

      COMMERCIAL (GENERAL) • 0.04 Acres
      9 Crestwood Ct, Hackettstown, NJ 07840-4802
      View Details
    • Value Estimation by Request

      2 Petersburg Rd

      COMMERCIAL (GENERAL)
      2 Petersburg Rd, Hackettstown, NJ 07840-4941
      View Details
    • Value Estimation by Request

      127 Us Hwy 46

      COMMERCIAL (GENERAL)
      127 Us Hwy 46, Hackettstown, NJ 07840
      View Details
    • Value Estimation
      $3,550,000
      35,000 SF

      2 Joy Dr

      COMMERCIAL (GENERAL) • 35,000 SF
      2 Joy Dr, Hackettstown, NJ 07840-5331
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      7.41 Acres

      Hackettstown Office Suite - 1850 SF

      Modern office space, prime location, ample parking.
      1500 Rte, Hackettstown, NJ 07840
      View Details
    • $1,500,000
      14,000 SF

      Hackettstown Main Street Commercial Gem

      Prime location, 14,000 sqft, redevelopment potential.
      236 Main St, Hackettstown, NJ 07840
      View Details
    • Contact for pricing
      39,000 SF

      Hackettstown Industrial Portfolio

      12-Unit Flex Space, Fully Renovated
      700 Grand Ave, Hackettstown, NJ 07840
      View Details
    • $415,000

      Charming Townhouse with Wooded View

      2-bedroom, 2.5-bathroom townhouse with modern amenities and convenient location.
      97 Mine Hill Rd, Hackettstown, NJ 07840
      View Details
    • $150,000

      Heavily Wooded Highlands Land

      Land in Highlands Preservation District on quiet, wooded street.
      3 Old Bilby Rd, Hackettstown, NJ 07840
      View Details
    • $1,500,000
      14,000 SF

      Hackettstown Commercial Property on Main

      High-visibility corner lot suitable for mixed-use redevelopment or lease.
      236 Main St, Hackettstown, NJ 07840
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      37,400 SF

      Hackettstown Industrial Space For Lease

      37,400 SF industrial space available for lease.
      300-308 W Stiger St, Hackettstown, NJ 07840
      View Details
    • $1,750 /Mo
      44,431 SF

      Prime Commercial Space on Route

      High-exposure, move-in-ready space on Route 46 in Mount Olive.
      445 Us Highway 46, Hackettstown, NJ 07840
      View Details
    • $1,100 /Mo
      17,860 SF

      Hackettstown Office Space For Rent

      First-floor office space in a convenient Hackettstown location.
      699 Washington St, Hackettstown, NJ 07840
      View Details
    • $2,500 /Mo
      10,700 SF

      Commercial Space Near Craft Distillery

      Commercial space available for rent near a craft distillery.
      300 Valentine St, Hackettstown, NJ 07840
      View Details
    • Contact for pricing
      114,249 SF

      Mount Olive Parkade: Hackettstown Retail

      Prime Hackettstown retail space available. Multiple suites, drive-thru potential.
      7 Naughright Rd, Hackettstown, NJ 07840
      View Details
    • Contact for pricing
      28,080 SF

      Mansfield Shopping Center Retail Space

      Hackettstown, NJ retail space available.
      1930 Nj-57, Hackettstown, NJ 07840
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    223 Main St
    Hackettstown, NJ 07840-2001
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.