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    Commercial Condo and Land Opportunity Title is generated by Realmo AI

    354 Route46, Budd Lake, NJ 07828

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    Claim this Listing
    For Sale
    $450,000

    Commercial - Mount Olive Twp., NJ

    Property size:
    9,100 SF
    Lot size:
    5.43 Acres
    Price / SF:
    $49/SF
    Added:
    Dec 23, 2025
    Days on Market:
    149
    Last Refresh:
    May 21 at 6:06 pm

    Property Features for 354 Route46

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    C-2
    Standard status
    Active
    Size
    9,100 SF
    Lot size
    5.43 Acres

    Taxes and HOA fees

    Tax Year
    2024
    Tax Annual Amount
    7369

    Utilities

    Heating system
    Forced Air
    Cooling system
    Central Air

    Building Details

    Year built
    1989
    Floors in Building
    2
    Number of units
    7
    Flooring type
    Carpet, Tile
    Building materials
    Block, Brick
    Roof type
    Asphalt, Shingle
    Architectural style
    Other

    We can help!

    Listing Contact
    MATTHEW REGAN

    Listing agent MATTHEW REGAN

    Listing office KELLER WILLIAMS PROSPERITY REALTY 1700 RT. 23 NORTH, Wayne, NJ

    Listing date Dec 23, 2025

    MLS# 4002496 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.

    HighLights

    • Development rights to approximately 3 acres of a 5.46‑acre parcel.
    • 1,456 sq. ft. office condominium with two separate entrances.
    • Prime location on Route 46 West with high visibility and easy access, minutes from Route 80.
    • Situated minutes from Budd Lake and downtown Hackettstown in Morris County, New Jersey.
    • Includes previously approved plans for a 6,000 sq ft office building and parking.
    • Zoned for religious use and other commercial applications.

    Overview

    This commercial property in Mount Olive Township, Morris County, New Jersey, presents an opportunity to establish a business presence. The offering includes a 1,456 sq. ft. office condominium featuring two separate entrances and two half bathrooms, with plumbing for a third. A large garden-style window provides light. The property includes development rights to approximately 3 acres of the 5.43-acre condominium parcel. The site is located along Route 46 west, providing visibility and accessibility, and is minutes from Route 80, Budd Lake, and downtown Hackettstown. The property is suited for religious use and other commercial uses. Plans for a previously approved and proposed 6,000 sq. ft. office building and parking are available.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Restaurant Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Nail Salon Hotel & Motel Gym & Fitness Center Food Market

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

    Location Insight

    • Map
    • Local Demand
    City
    Budd Lake
    County
    Morris
    State
    New Jersey
    Longitude
    -74.76995
    Latitude
    40.85675

    Nearby Similar for Sale

    • $220,000
      9,100 SF

      Versatile Office Condo on Route 46

      Commercial condo with high visibility, customizable space, and ample parking.
      354 Route46, Mount Olive Twp., NJ 07828-3201
      View Details
    • $1,600,000
      11,000 SF

      Medical Office Corner Suite

      Corner suite ideal for medical professionals, available immediately.
      125 US Highway 46, Budd Lake, NJ
      View Details
    • $200,000

      Land Available in Mount Olive

      Land for sale, buyer responsible for due diligence.
      25 Budd Ave, Mount Olive Twp., NJ 07828
      View Details

    FAQs

    What type of property is this?
    Commercial land - Commercial condo with development rights in Morris County, New Jersey.
    Where is this commercial land located?
    The property is located at 354 Route46 Budd Lake, NJ.
    What is the asking price?
    The asking price for this property is $450,000.
    What are key features of this property?
    This property features: Development rights to approximately 3 acres of a 5.46‑acre parcel.; 1,456 sq. ft. office condominium with two separate entrances.; Prime location on Route 46 West with high visibility and easy access, minutes from Route 80.
    (973) 696-0077
    We can help!
    Listing Contact
    MATTHEW REGAN
    Real Estate License ID: 1650306
    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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    354 Route46, Mount Olive Twp., NJ 07828-3201
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