305 W. Main St.

Highly visible 4, 690 SF commercial building located in the heart of Boonton's business district within Morris County's supply-constrained commercial market. This well-maintained multi-level asset offers investors the rare combination of immediate value-add potential and long-term flexibility. The first floor is leased through October 31, 2026, providing dependable cash flow, while approximately 2, 500 SF on the second and third floors is available for lease or owner occupancy. The available space is being marketed at a competitive rental rate below market to accelerate lease-up, providing a clear opportunity for a new owner to increase occupancy, enhance net operating income, and grow asset value. Configured as two units, each with a separate entrance, this property is well suited for investors, owner-users, or businesses seeking to occupy a portion of the building while benefiting from rental income. The second and third floors feature private offices, conference rooms, open work areas, and a kitchenette, making the space ideal for professional office, medical, legal, accounting, financial services, consulting, architectural, engineering, wellness, educational, or other professional users. The property presents a compelling investment opportunity with a 6.7% cap rate based on current income, with significant upside through lease-up of the available office space and future rental growth. Recent capital improvements include a new fire suppression system (2025), updated windows, and an improved driveway, reducing near-term capital expenditures. The property also benefits from 15 private on-site parking spaces, a rare amenity in downtown Boonton, and zoning that permits professional office, medical, retail, vocational, personal services, salon/spa, and other commercial uses, with potential for mixed-use redevelopment subject to municipal approvals. Conveniently located within walking distance of restaurants, retail, and NJ Transit, with easy access to Routes 287, 202, 46, and Interstate 80. An exceptional opportunity for private investors, owner-users, and 1031 exchange buyers seeking stable income today with a defined path to increased NOI and long-term appreciation.