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.
4,690 Sq Ft
0.37 Acres privados Tamanho do lote
comercial
1304 US$ Imposto mensal
Construído em 1880
MLS/ID do anúncio 4021781
3 Histórias
2 Unidades
Arrefecimento - Ar condicionado central
Construction - Wood
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