Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Fully Occupied Commercial Building Title is generated by Realmo AI

    3031 State Route 27, Franklin, NJ 08823

    View on Map
    Claim this Listing
    Picture of Mixed-use properties at 3031 State Route 27, Franklin, NJ
    For Sale
    $1,450,000

    COMMERCIAL - Franklin, NJ

    Property size:
    8,320 SF
    Lot size:
    0.80 Acres
    Price / SF:
    $174/SF
    Added:
    May 4, 2026
    Days on Market:
    32
    Last Refresh:
    Jun 4 at 7:06 pm

    Property Features for 3031 State Route 27

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    NBH
    Parking
    38
    Parking features
    Parking Lot, Open
    Interior features
    Carpeting, Lighting Fixtures
    Standard status
    Active
    APN
    0800048000000003
    Size
    8,320 SF
    Lot size
    0.80 Acres

    Taxes and HOA fees

    Tax Year
    2024
    Tax Annual Amount
    19959

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Forced Air
    Cooling system
    Central Air
    Water source
    Public

    Building Details

    Year built
    1987
    Floors in Building
    2
    Flooring type
    Laminate, Carpet, Wood, Lighting fixtures
    Building materials
    Vinyl Siding
    Roof type
    Asphalt

    We can help!

    Listing Contact
    Jon Kessler

    Listing agent Jon Kessler

    Listing office KUKER & KESSLER REAL ESTATE 3031 ROUTE 27, Franklin Park, NJ

    Listing date May 4, 2026

    MLS# 2615084R

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

    Overview

    This fully occupied commercial building is located on a highway in Franklin, NJ. The property features a mix of commercial and office spaces. The first floor contains three commercial/retail units. The second floor includes four office units. The property also includes a real estate office spanning two stories with six rooms and separate HVAC. There are six bathrooms on the premises. CAM includes water and sewer, except for the real estate office. The property provides ample parking on its 0.8027-acre lot. The building has a total area of 8,320 square feet. The zoning is NBH.

    Local Financial Insights For Office B

    Simulate Cap Rate and NOI

    NOI Build-Up
    Vacancy
    income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
    EGI (Effective Gross Income)
    gross rent minus vacancy losses — the realistic income before paying operating costs.
    OpEx (Operating Expenses)
    recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
    NOI (Net Operating Income)
    income a property generates after operating costs but before financing and taxes.

    Component $ $/SF
    Gross rent $249.6k $30.00
    − Vacancy −$79.9k −$9.60
    EGI $169.7k $20.40
    − OpEx −$42.4k −$5.10
    NOI $127.3k $15.30
    8,320 SF · lease $30.00/SF/yr · vacancy 32.00% · expense 25.00%

    Alternative Uses

    Best Use
    Office B
    $1.82M
    $1.59M – $2.12M (±1% cap)
    NOI $127,296 @ 7.0% cap · market cap 8.78%
    Second Best
    Retail
    $1.70M
    $1.48M – $1.98M (±1% cap)
    NOI $118,754 @ 7.0% cap · market cap 8.19%
    Theoretical Best
    Office A
    $2.17M
    $1.90M – $2.53M (±1% cap)
    NOI $152,076 @ 7.0% cap · market cap 10.49%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Retail space

    Map

    City
    Franklin
    County
    Sussex
    State
    New Jersey
    Longitude
    -74.5346965
    Latitude
    40.439726

    Nearby Similar for Sale

    • $499,900
      3,500 SF

      Highway Commercial Investment Opportunity

      3500 SF building with two rented units on 1.01 acres.
      165 State Rt 23, Franklin Boro, NJ 07416-2000
      View Details
    • $675,000
      3,104 SF

      Renovated Commercial Property For Sale

      Highway commercial location with long-term tenant and recent renovations.
      414 State Rt 23, Franklin Boro, NJ 07416-2118
      View Details
    • $787,500
      3,500 SF

      Franklin Commercial Medical/Professional Office

      Spacious medical/professional office with ample parking and modern amenities.
      1553 Route 27, Franklin, NJ 08873
      View Details
    • $525,000
      3,500 SF

      Highway Commercial Zone Investment Opportunity

      3500 SF building with two rented units for income.
      165 State Rt 23, Franklin, NJ 07416
      View Details
    • $449,900

      Two-Unit Home in Franklin Boro

      Spacious two-family home with investment potential in Franklin Boro.
      51 Main St, Franklin Boro, NJ 07416-1422
      View Details
    • $1,175,000
      3,360 SF

      Franklin Multifamily Investment Opportunity

      Multifamily property in Franklin, NJ, ideal for residential income.
      847 Hamilton Street, Franklin, NJ 08873
      View Details
    • $8,500
      2,900 SF

      Franklin Garage with Parking Space

      2900 SF garage with 18000 SF outdoor parking.
      383 Somerset Street, Franklin, NJ 08873
      View Details
    • $22
      45,000 SF

      Franklin Commercial Property For Sale

      Commercial property suitable for medical or professional office use.
      81 Veronica Avenue, Franklin, NJ 08873
      View Details
    • $469,900

      Franklin Boro Duplex with In-law

      Two-family home with in-law suite in Franklin Boro, NJ.
      11 Mabie St, Franklin Boro, NJ 07416-1547
      View Details
    • $469,900

      Two-Family Duplex with In-Law Suite

      Two fully rented units, plus in-law suite, detached garage.
      11 Mabie St, Franklin, NJ 07416-1547
      View Details
    • $449,900

      Spacious Two-Family Home with Potential

      Versatile 2-family home, great for owner-occupants or investors.
      51 Main St, Franklin, NJ 07416-1422
      View Details
    • $379,500
      3,000 SF

      Mixed-Use Property in Hardyston Twp.

      Residential/commercial property with apartment and separate medical office entrance.
      3200 State Rt 94, Hardyston Twp., NJ 07416-9719
      View Details

    FAQs

    What type of property is this?
    Mixed-use property - Commercial building with retail and office units in Franklin, NJ.
    Where is this mixed-use property located?
    The property is located at 3031 State Route 27 Franklin, NJ.
    What is the asking price?
    The asking price for this property is $1,450,000.
    (732) 297-8282
    We can help!
    Listing Contact
    Jon Kessler
    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
    3031 State Route 27, Franklin, NJ 08823
    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!