354 S Main St Wharton, NJ $ 1,499,000
354 S Main St
$ 1,499,000
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354 S Main St

Wharton, NJ, 07885
$ 1,499,000
Bedrooms-- Baths-- Sq 25,199

Monthly Estimate*

$ 9,352

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Commercial Property for sale in Wharton, NJ

for $1,499,000 with 5 half baths. This 25,199 square foot building was built in 1900 on a lot size of 0.57.

Discover an unparalleled investment opportunity in the heart of the real estate market! This expansive property, covering over half an acre with 2 separate buildings, stands as one of the largest lots in town. Located in a B-1 Zoning District (Neighborhood Business District), it offers remarkable flexibility and potential. Both buildings have undergone complete renovation and rehabilitation, including new roofs, kitchens, bathrooms, utilities, and more. This ensures a low-maintenance, high-yield investment for years to come. Currently configured with 4 renovated apartments and an office space with full kitchens and bathrooms, the property boasts an impressive NET OPERATING INCOME $118,000 annually! We have created comprehensive floor plans and future plans to add 2 additional 2 bedroom units to the front building, which has partial plans for added value!. This will allow you to thoroughly explore every aspect of this unique offering. With the potential to expand to 7 units, the net income could reach an astounding $190,000!! This exceptional opportunity, with its strategic location and extensive renovations, ensures a sustainable and profitable investment for discerning investors. Don't miss out on the chance to secure a prime piece of real estate that promises significant returns and long-term growth. Let's collaborate to analyze the numbers, align with your goals, and make this exceptional investment opportunity yours today!

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Commercial Pending

Price

$ 1,499,000

Half Bath

5

Property Type

Commercial

Taxes

$ 20,230

Style

Apartment Complex

Lot Size

0.57

Year Built

1900

Town/City

Wharton

County/Region

Morris

MLS | Web ID

3976259

Features
General
Sewer Public Sewer
Construction Brick/Block
Heating 4+ Units Forced Hot Air Radiant - Electric Radiators - Hot Water
Cooling 4+ Units Central Air Ductless Split AC
Utilities Electric Gas-Natural
Possession 0-31
Roof Asphalt Shingle
Zoning Mixed
Garage Spaces 15
Year Built 1900
Tenant Pays Cable T.V. Electric Gas Heat Hot Water Water
Township Wharton Boro
Property Type Apartment Complex Mixed Use Office/Apartments Apartment Complex
Tax Year 2023
Ownership Fee Simple
Location Business District Freestanding Residential Area
Lease Information 1 Year Minimum
Gross Income 143675
County Morris
Net Operating Income 118000
Operating Expense 25675
Status Under Contract
Directions E. Sterling St. to S. Main St. or use GPS/Waze
Number Of Units Total 5
Tax Annual Amount 20230
Drive Blacktop Lighting Off-Street Parking Parking Lot-Exclusive
Leasable Area 1000
Standard Status Under Contract
Tax Assessed Value 699400
Town # 2339
Tax Lot 14
Cap Rate 7.88
Farm Assessment No
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Interior
Basement Full Storage Unfinished
Flooring Carpeting Concrete Laminate Tile Vinyl-Linoleum
Fuel Type Gas-Natural
Total Stories 3
Half Baths 5
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Exterior
Lot Features Level Lot Possible Subdivision
Water Source Public Water
Total Parking 15
Exterior Description Vinyl Siding
Building Area Total 3301
Lot Dimensions 150X168 AV
Lot Size Acres 0.57
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* Excluded Features
List By
MOHAMAD SANKAR

Listing Agent

Keller Williams Village Square

Broker

Affordability Calculator

$11,038
Per Month
85%
15%
0%
Monthly Principal & Interest
$9,352
Monthly Property Taxes
$1,686
Monthly Home Insurance
--
Default based on a 30-year fixed rate of 6.375% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
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Nearby
291163 Elementary School
291353 Middle School
Unknown High School High School
Pricing History
DatePricePrice ChangeDescription
7/18/2025$1,499,000 Listed Price

Map


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354 S Main St, Wharton, NJ, 07885 is a Commercial Property for sale at $1,499,000 with 25,199 sqft and a lot size of 0.57. 354 S Main St was built in 1900. The property's zip code is 07885 which is in Wharton, NJ