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1 E Mill Rd 2,845 SF 66% Leased Office Building Long Valley, NJ 07853 $650,000 ($228.47/SF) 7.99% Cap Rate
INVESTMENT HIGHLIGHTS
- Landmark building in the heart of Long Valley
- Wide plank floors, exposed beams, working gas fireplaces
- Renovated fieldstone building
EXECUTIVE SUMMARY
Rare opportunity to own landmark, historic fieldstone building in the heart of Long Valley. With its rich history, this building is the cornerstone of town and has served many successful businesses throughout the years. Originally a private residence, this building has been renovated, re-designed and now features numerous office spaces. Noteworthy features include refinished wide plank floors, beamed ceilings, working gas fireplaces, kitchenette, designer renovated spaces and lighting, custom built ins, newer mechanicals, roof and much more. Public Utilities. Exterior features include rear courtyard, covered entry, stone walls and storage shed. C-1 Zone offers many potential uses. Excellent visibility, accessibility and parking. Easy access to routes 80,24,78 & 206.
FINANCIAL SUMMARY (ACTUAL - 2023) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
-
|
-
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$84,242
|
$29.61
|
| Taxes |
$14,511
|
$5.10
|
| Operating Expenses |
$12,994
|
$4.57
|
| Total Expenses |
$27,505
|
$9.67
|
| Net Operating Income |
$56,737
|
$19.94
|
FINANCIAL SUMMARY (ACTUAL - 2023)
| Gross Rental Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $84,242 |
| Annual Per SF | $29.61 |
| Taxes | |
|---|---|
| Annual | $14,511 |
| Annual Per SF | $5.10 |
| Operating Expenses | |
|---|---|
| Annual | $12,994 |
| Annual Per SF | $4.57 |
| Total Expenses | |
|---|---|
| Annual | $27,505 |
| Annual Per SF | $9.67 |
| Net Operating Income | |
|---|---|
| Annual | $56,737 |
| Annual Per SF | $19.94 |
PROPERTY FACTS Under Contract
Sale Type
Investment or Owner User
Property Type
Building Size
2,845 SF
Building Class
C
Year Built
1789
Price
$650,000
Price Per SF
$228.47
Cap Rate
7.99%
NOI
$51,937
Percent Leased
66%
Tenancy
Multiple
Building Height
2 Stories
Typical Floor Size
1,423 SF
Building FAR
0.21
Lot Size
0.31 AC
Zoning
C1 - Commercial
Parking
12 Spaces (4.22 Spaces per 1,000 SF Leased)
AMENITIES
- Courtyard
- Signage
- Air Conditioning
- Smoke Detector
PROPERTY TAXES
| Parcel Number | 38-00035-0000-00014 | Total Assessment | $511,700 (2025) |
| Land Assessment | $284,700 (2025) | Annual Taxes | $14,511 ($5.10/SF) |
| Improvements Assessment | $227,000 (2025) | Tax Year | 2023 |
PROPERTY TAXES
Parcel Number
38-00035-0000-00014
Land Assessment
$284,700 (2025)
Improvements Assessment
$227,000 (2025)
Total Assessment
$511,700 (2025)
Annual Taxes
$14,511 ($5.10/SF)
Tax Year
2023
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