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    222 Route31 Washington Twp, NJ 07882

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    Claim this Listing
    New
    For Lease
    $2,750 /Mo

    Commercial - Washington Twp., NJ

    Lot size:
    1.55 Acres
    Added:
    Apr 16, 2026
    Days on Market:
    3
    Last Refresh:
    Apr 18 at 2:06 pm

    Property Features for 222 Route31

    General Information

    Property type
    Commercial Lease
    Property subtype
    Other
    Zoning
    Highway Comm.
    Parking features
    Parking Lot
    Standard status
    Active
    Lot size
    1.55 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Annual Amount
    5620

    Utilities

    Heating system
    Forced Air
    Cooling system
    Central Air

    Building Details

    Flooring type
    Laminate
    Building materials
    Vinyl Siding
    Roof type
    Asphalt, Shingle
    Architectural style
    Other

    We can help!

    Listing Contact
    MICHAEL DELL ELBA

    Listing agent MICHAEL DELL ELBA

    Listing office KELLER WILLIAMS REAL ESTATE 120 WEST MAIN STREET, Clinton, NJ

    Listing date Apr 16, 2026

    MLS# 4021523 Listing URL

    Copyright © 2026 Garden State MLS, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Highly Visible Office Space

    This open office building is located at the intersection of Route 31 and Springtown Rd, offering exposure with daily traffic. A freestanding sign on Route 31, along with building signage opportunities, provides visibility. The property features a large paved parking lot suitable for professionals meeting clients on-site or businesses operating fleet vehicles, work vans, trailers, or service equipment. Lawn maintenance is included in the lease, along with the use of one of the two on-site storage sheds. Inside, the building offers a bright open layout enhanced by freshly painted walls, durable LVP flooring, and natural light through a large picture window. The space also includes two private offices and an updated half bath. This property is suited for professional service providers, contractors, skilled trades, or businesses seeking visible office space paired with exterior parking and storage capabilities. The property is located in Washington Twp., NJ, in Warren County, with a lot size of 1.55 acres.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Office Units

    Map

    City
    Washington Twp
    County
    Bergen
    State
    New Jersey
    Longitude
    -75.0041
    Latitude
    40.7557

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    FAQs

    What type of property is this?
    Office units - Open office space with high visibility and ample parking.
    Where is this office units located?
    The property is located at 222 Route31 Washington Twp, NJ.
    What is the lease rate?
    The lease rate is $2,750 /Mo.
    What are key features of this property?
    This property features: High‑visibility location at the intersection of Route 31 & Springtown Rd with steady daily traffic.; Large paved parking lot suitable for clients, fleet vehicles, or equipment.; Freestanding sign on Route 31 and building signage opportunities.
    (908) 751-7750
    We can help!
    Listing Contact
    MICHAEL DELL ELBA
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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