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$1,300,000
Est. payment /mo
4,690 SqFt
UPDATED:
Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
Square Footage 4,690 sqft
Price per Sqft $277
MLS Listing ID 4021781
Year Built 1880
Annual Tax Amount $15,651
Tax Year 2025
Lot Size 0.370 Acres
Property Description
Highly visible commercial property with strong frontage in the heart of Boonton's business district, located within the supply-constrained Morris County submarket. This 4,690 SF multi-level asset is 100% occupied and configured as two units, each with a separate entrance, offering flexibility for investors or future owner-users. The layout includes private offices, conference rooms, dedicated workspaces, and a kitchenette well suited for a variety of professional uses. A rare and valuable feature, the property includes 15 private on-site parking spaces, a significant advantage for this asset type. Zoning allows for medical, professional, retail, vocational, dog grooming and service uses (e.g., salon, spa), with potential for mixed-use conversion subject to town approvals, creating additional upside. The property presents a compelling investment opportunity with in-place income at a 6.7% cap rate, low operating expenses supported by tenant reimbursements, and clear rent growth potential, as rents have not increased in over three years. Recent capital improvements include a new fire suppression system (2025), along with updated driveway and windows, minimizing near-term capital expenditures. Ideally located within walking distance to downtown Boonton, with access to shopping, restaurants, NYC transit, nearby medical offices, and a strong surrounding residential base.
Location
State NJ
County Morris
Zoning Commercial
Rooms
Basement Storage, Unfinished
Interior
Heating Gas-Natural
Cooling 2 Units, Central Air
Flooring Carpeting, Laminate
Equipment Fire Alarm, Kitchen Area, Restrooms - Private, Sign - Building, Smoke Detector, Storage Area(s)
Heat Source Gas-Natural
Exterior
Exterior Feature Vinyl Siding
Garage Spaces 15.0
Utilities Available Electric, Gas-Natural
Roof Type Asphalt Shingle
Building
Lot Description Corner
Story 3
Sewer Public Sewer
Water Public Water
Others
Ownership Fee Simple
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Listed by EXP REALTY, LLC
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