49-53 Main St 8 Unit Apartment Building $1,399,000 ($174,875/Unit) 8% Cap Rate Sussex, NJ 07461

This exceptional 11-unit building presents a rare opportunity to acquire one of the finest apartment buildings in Northern New Jersey. Featuring a one-of-a-kind masonry construction, the property includes 8 luxury residential apartments, 2 fully rented commercial stores, and 1 fully rented storage space. With long-term tenants in place and all utilities separately metered, this building is a stable, income-producing asset.

The building is elevator-serviced, fully sprinklered, and offers significant upside potential with room for rent increases in both residential and commercial spaces. The property's prime location just off State Route 23, the main commercial and commuter corridor of Sussex, ensures excellent visibility and accessibility. It is directly across from TJ Dunn Community Park and surrounded by a variety of retail amenities, including Acme Markets, ShopRite of Sussex, Early American Tavern, Sussex Coffee Company, Lorenzo’s Pizzeria, and more.

The property is supported by a robust, growing population within a 10-mile radius, which exceeds 73,000 residents. The average household income in the area is $120,644, with over 15,000 renters providing a stable and expanding tenant base.

This building offers an outstanding investment opportunity with consistent income, long-term tenants, and substantial growth potential. Secure your position in one of the most desirable areas of Northern New Jersey today.