Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    331-1 Mendham Rd Bernardsville, NJ 07924

    Sponsored
    For Sale
    $495,000

    Lots and Land - Bernardsville Boro, NJ

    Lot size:
    5.05 Acres
    Days on Market:
    175
    Last Refresh:
    Jan 28 at 11:06 pm

    Property Features for 331-1 Mendham Rd

    General Information

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

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    DEBRA ROSS

    Kienlen Lattmann Sotheby's International Realty (908) 696-8600

    Listing agent DEBRA ROSS (908) 719-2500

    Listing date Aug 7, 2025

    MLS# 3979965 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.

    Learn more

    Property Insight Report

    Overview

    Bernardsville Mountain 5-Acre Lot

    Located at the end of a private lane, this 5.05-acre lot on Bernardsville Mountain offers a location for building a home. The property includes a small 6-stall barn. The land is currently farm assessed, with the buyer responsible for rollback taxes. The location provides access to shopping, dining, and recreational opportunities, as well as equestrian facilities, nationally ranked golf courses, and public and private schools. Situated moments from Bernardsville's town center, the property is within an hour of New York City. Viewings are by appointment only.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Land

    Suggested Use

    Realty agency Law Firm Car Rental

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

    Location Insight

    • Map
    • Local Demand
    City
    Bernardsville
    County
    Somerset
    State
    New Jersey
    Longitude
    -74.586009979248
    Latitude
    40.745251995215

    Nearby Similar for Sale

    • $2,200,000
      8,644 SF

      Charming Commercial Building Near Olcott Square

      Unique commercial property with character, fully leased, ample parking.
      2 Morristown Rd, Bernardsville, NJ 07924
      View Details
    • New
      Contact for pricing
      1,040 SF

      Retail Space in Bernardsville

      Retail space in the heart of Bernardsville's business district.
      27 Olcott Sq, Bernardsville, NJ 07924
      View Details
    • New
      Contact for pricing
      1,349 SF

      Prime Office Suites in Bernardsville

      Office suites available in the heart of Bernardsville business district.
      27 Olcott Sq, Bernardsville, NJ 07924
      View Details
    • $1,950,000
      Pending

      Mixed-Use Investment Opportunity

      Six-unit investment property with retail and apartments in downtown Bernardsville.
      18 Claremont Rd, Bernardsville, 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
    • $3,990,000

      Historic Olcott Square Landmark Restaurant

      Iconic, remodeled restaurant property in downtown Bernardsville with parking.
      1 Mill St, Bernardsville, NJ 07924
      View Details
    • $500,000

      Auto Body Shop Opportunity

      Auto body shop for sale with long lease, 25 parking.
      57 Morristown Rd, Bernardsville, NJ 07924
      View Details
    • $3,990,000
      9,909 SF

      Historic Bernardsville Landmark

      Upscale Restaurant, Turnkey Opportunity
      1 Mill St, Bernardsville, NJ 07924
      View Details
    • $500,000

      Prime Bernardsville Auto Body Shop

      Established Auto Body Shop, Long Lease
      57 Morristown Rd, Bernardsville, NJ 07924
      View Details
    • $3,990,000
      9,909 SF

      Historic Bernardsville Restaurant

      Upscale eatery, 9,909 SF, high NOI
      1 Mill St, Bernardsville, NJ 07924
      View Details

    FAQs

    What type of property is this?
    Land - Picturesque 5-acre lot with barn, near town center.
    Where is this land located?
    The property is located at 331-1 Mendham Rd Bernardsville, NJ.
    What is the asking price?
    The asking price for this property is $495,000.
    What are key features of this property?
    This property features: - Picturesque 5-acre lot on Bernardsville Mountain, ideal for building a dream home.; - Conveniently located moments from Bernardsville's town center and within an hour of New York City.; - Includes a small 6-stall barn on the property.
    (908) 696-8600
    Request Owner's contact information
    331-1 Mendham Rd Bernardsville, NJ 07924
    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.
    331-1 Mendham Rd
    Bernardsville, NJ 07924
    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
    331-1 Mendham Rd Bernardsville, NJ 07924
    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

    We can help!
    Listing Contact
    DEBRA ROSS
    (908) 696-8600
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.