Add Listing
    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

    351 Doctors Way Hillsborough, NJ 08844

    View on Map
    Sponsored
    For Sale
    $2,500,000

    Lots and Land - Hillsborough Twp., NJ

    Lot size:
    3.29 Acres
    Days on Market:
    36
    Last Refresh:
    Mar 19 at 1:06 am

    Property Features for 351 Doctors Way

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    Zoning
    Commercial HS
    Lot size
    3.29 Acres

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    KETAN THAKKER

    K. T. REALTY (908) 462-2234

    Listing agent KETAN THAKKER (908) 462-2234

    Listing date Feb 11, 2026

    MLS# 3946097 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

    Hillsborough Twp. Commercial Land

    This 3.29-acre lot is situated in a prime location on 206 North in Hillsborough Township, Somerset County, New Jersey. The property is zoned Commercial HS and permitted for principal uses such as medical offices, including veterinary hospitals, fiduciary institutions, and business services. Restaurants are also permitted, including both sit-down and carryout options, provided that food and drink are not served via drive-through facilities. Child-care and adult day-care centers are also permitted, subject to site plan approval. The location offers the potential to join surrounding medical offices with potential referrals.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Law Firm Restaurant Real Estate Agency Hair Salon Spa & Massage Center Dental Office Nail Salon Food Market Grocery & Convenience Store Daycare Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Hillsborough
    County
    Somerset
    State
    New Jersey
    Longitude
    -74.63109
    Latitude
    40.512

    Nearby Similar for Sale

    • $349,000
      860 SF

      Boutique Professional Office Condo

      860 SF office condo in Hillsborough Twp., NJ.
      491 Amwell Rd, Hillsborough, NJ 08844
      View Details
    • $499,800
      Pending

      Hillsborough Industrial Condo For Sale

      2,350 SF industrial condo with office space for sale.
      14 Ilene Ct, Hillsborough, NJ 08844
      View Details
    • New
      Contact for pricing
      1,300 SF

      Hillsborough Retail Space in Triangle Square

      1,300 sq ft retail space off Route 206.
      281 Triangle Rd, Hillsborough, NJ 08844
      View Details
    • Contact for pricing
      2,200 SF

      Hillsborough Twp. Office Space

      2200 sqft office space with 10 rooms, available 2025.
      856 Us Highway 206, Hillsborough, NJ 08844
      View Details
    • $3,300,000
      14,376 SF

      Hillsborough Office Building For Sale

      14,376 sq ft office building in prime location.
      349 Us Hwy 206, Hillsborough, NJ 08844
      View Details
    • $349,000
      860 SF

      Boutique Professional Office Condo

      860 SF office condo in Hillsborough Twp., NJ for sale.
      491 Amwell Rd, Hillsborough, NJ 08844
      View Details
    • Contact for pricing
      2,200 SF

      Hillsborough Commercial Space Available

      2200 sq ft commercial space with multiple rooms for sale.
      856 Us Hwy 206 Hwy, Hillsborough, NJ 08844
      View Details
    • $425,000
      2,260 SF

      Updated Office Suite For Sale

      Professional office suite with great layout in a desirable location.
      501 Omni Dr, Hillsborough, NJ 08844
      View Details
    • $250,000

      High Traffic Area Investment Opportunity

      Located in a high-traffic area, perfect for owner/user investment.
      603 Omni Dr, Hillsborough, NJ 08844
      View Details
    • $419,900

      Hillsborough Townhouse in Huntington Park

      Move-in ready 2-bedroom townhouse in desirable Hillsborough location.
      45 Chetwood Ct, Hillsborough, NJ 08844
      View Details
    • $229,000
      1,150 SF

      Retail Property in High Traffic

      Retail property for sale in a high-traffic area.
      603 Omni Dr, Hillsborough, NJ 08844
      View Details
    • $450,000
      7,800 SF

      Hillsborough Medical Office Building

      Seven-exam room suite, fully furnished.
      611 Courtyard Dr, Hillsborough, NJ 08844
      View Details

    FAQs

    What type of property is this?
    Commercial land - 3.29 acre lot in prime location on 206.
    Where is this commercial land located?
    The property is located at 351 Doctors Way Hillsborough, NJ.
    What is the asking price?
    The asking price for this property is $2,500,000.
    What are key features of this property?
    This property features: - 3.29 Acres of Land on Route 206 North Bound; - Permitted for Medical Offices and Veterinary Hospitals; - Permitted for Restaurants (Sit-Down and Carryout)
    (908) 462-2234
    Request Owner's contact information
    351 Doctors Way Hillsborough, NJ 08844
    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.
    351 Doctors Way
    Hillsborough, NJ 08844
    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
    351 Doctors Way Hillsborough, NJ 08844
    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
    KETAN THAKKER
    (908) 462-2234
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!