Add Listing
    For Sale
    • For Sale
    • For Lease
    • Sold
    • Property Lookup
    • Brokers
    The Largest CRE Database in the US with Over 1 Million Listings

    3 Preserve Ln Bernardsville, NJ 07924

    View on Map
    Claim this Listing
    Picture of Residential land & home lots at 3 Preserve Ln, Bernardsville, NJ
    For Sale
    $1,100,000

    Lots and Land - Bernardsville Boro, NJ

    Lot size:
    6.06 Acres
    Added:
    Oct 30, 2023
    Days on Market:
    918
    Last Refresh:
    May 4 at 5:06 pm

    Property Features for 3 Preserve Ln

    General Information

    Property type
    Land
    Property subtype
    Other
    Zoning
    Residential
    Standard status
    Active
    Lot size
    6.06 Acres

    Taxes and HOA fees

    Tax Year
    2022
    Tax Annual Amount
    16

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    CAROLYN FAHEY

    Listing agent CAROLYN FAHEY

    Listing office FAHEY REALTORS 61 CLAREMONT ROAD, Bernardsville, NJ

    Listing date Oct 30, 2023

    MLS# 3872091 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

    Bernardsville Boro Land Opportunity

    Located in a scenic mountain area of Bernardsville Boro, New Jersey, this residential land offers an opportunity to build a custom home. The property, situated in a quiet neighborhood, spans 6.06 acres. It is located minutes from town.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Bernardsville
    County
    Somerset
    State
    New Jersey
    Longitude
    -74.57306
    Latitude
    40.75032

    Nearby Similar for Sale

    • $500,000
      2,500 SF

      Auto Body Shop Opportunity

      Auto body shop for sale with collision repair business.
      57 Morristown Rd, Bernardsville Boro, NJ 07924
      View Details
    • $1,099,000

      Bernardsville Land Overlooking Golf Course

      5 acre improved land overlooking Somerset Hills Country Club.
      149 Overleigh Rd, Bernardsville Boro, NJ 07924
      View Details
    • $1,395,000

      Bernardsville Mountain 10-Acre Estate Lot

      Exceptional 10-acre lot on Bernardsville Mountain.
      20 Dryden Rd, Bernardsville Boro, NJ 07924-1107
      View Details
    • $1,395,000

      Bernardsville Mountain 10-Acre Estate Lot

      10-acre farm-assessed property ideal for custom estate.
      20 Dryden Rd, Bernardsville Boro, NJ 07924
      View Details
    • Contact for pricing
      9,583 SF

      Retail Building & Land Package

      Retail/office building and adjacent land in Bernardsville's commercial district.
      47 Mine Brook Rd, Bernardsville, NJ 07924
      View Details
    • $65,000

      Bernardsville Commercial/Industrial Land Available

      Vacant commercial/industrial land available in Bernardsville, New Jersey.
      72 Mine Brk Rd, Bernardsville, NJ
      View Details
    • $1,099,000

      Bernardsville Mountain Land Overlooking Green

      5 acres of improved land overlooking Somerset Hills CC.
      149 Overleigh Road, Bernardsville, NJ 07924
      View Details
    • $3,990,000
      9,909 SF

      Historic Olcott Square Landmark Restaurant

      Remodeled, multi-floored restaurant property with outdoor dining and parking.
      1 Mill St, Bernardsville, NJ 07924
      View Details
    • $1,100,000

      Scenic Bernardsville Mountain Lot

      Residential land for sale in Bernardsville Boro, New Jersey.
      3 Rose Hill, Bernardsville Boro, NJ 07924
      View Details

    FAQs

    What type of property is this?
    Residential land & home lot - 6.06 acre residential land in scenic Bernardsville mountain location.
    Where is this residential land & home lot located?
    The property is located at 3 Preserve Ln Bernardsville, NJ.
    What is the asking price?
    The asking price for this property is $1,100,000.
    What are key features of this property?
    This property features: Scenic Bernardsville mountain location.; Minutes from town.; Quiet neighborhood setting.
    (908) 581-2591
    We can help!
    Listing Contact
    CAROLYN FAHEY
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    3 Preserve Ln, Bernardsville Boro, NJ 07924
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!