305 W. Main St.

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 through July 31, 2026, providing stable in-place income while offering a defined near-term opportunity for a new owner. The existing tenancy reflects consistent occupancy and rents that have not increased over three years, positioning the investment with clear upside through future rent growth. Configured as two units, each with a separate entrance, this property is meticulously maintained and in turnkey condition, offering both immediate cash-flow potential and flexibility for investors or future owner-users. Upon lease expiration, a new owner will have the option to take occupancy, potentially negotiate a renewal, or reposition the property based on their investment strategy. 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 a 6.7% cap rate based on current income, supported by low operating expenses and tenant reimbursements, with a clear path to NOI growth. 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. Available for occupancy beginning August 1, 2026.