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    2 Mine St Flemington, NJ 08822

    For Sale
    $1,199,000

    High-Yield Retail Investment in NJ

    Property size:
    5,933 SF

    Description

    Added:
    Jan 20, 2025
    Days on Market:
    329
    This 5,933 square foot retail building, located at 2 Mine Street in Flemington, NJ 08822, presents a compelling investment opportunity. The property boasts a strong financial performance, generating a gross annual rental income of $132,600 and a net operating income of $96,520, resulting in an 8% capitalization rate. The building is currently 100% leased, comprising four apartments and two storefronts. Tenants are responsible for heat, hot water, and sewer costs. Situated on a 0.136-acre lot at the corner of Main Street and Mine Street, the property benefits from a prime location in the heart of Flemington's vibrant downtown area, surrounded by cafes, restaurants, and other businesses. Its proximity to the County Courthouse and the recently renovated Union Hotel (a 100-room hotel), along with the development of upscale townhomes and apartments, indicates a thriving and growing neighborhood. This presents an excellent opportunity for investors seeking strong cash flow, particularly those considering a 1031 exchange. The property's consistent performance and strategic location make it an attractive investment in a dynamic market.

    Property Features for 2 Mine St

    General Information

    Property type
    Retail residential properties
    Square Feet
    5,933 SF
    Price / Square Foot
    $202
    Elevators
    N/A
    Lot Size
    5,933 SF
    Net Operating Income
    $96,520

    Building Details

    Year Built
    1900
    Stories
    3

    HighLights

    • Prime Flemington location, boasting high visibility on Main & Mine Streets.
    • Generating substantial net income of $96,600 annually.
    • Four apartments and two storefronts, currently 100% leased.
    Insight Report Location Intelligence

    Current Use by Public Records

    Retail residential properties

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Daycare Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Flemington
    State
    New Jersey
    Longitude
    -74.858882
    Latitude
    40.508659

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    FAQs

    What type of property is this?
    Retail residential property - High-Yield Retail Investment in NJ
    Where is this retail residential property located?
    The property is located at 2 Mine St Flemington, NJ.
    What is the asking price?
    The asking price for this property is $1,199,000.
    What are key features of this property?
    This property features: Prime Flemington location, boasting high visibility on Main & Mine Streets.; Generating substantial net income of $96,600 annually.; Four apartments and two storefronts, currently 100% leased.
    (908) 581-1834
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    2 Mine St Flemington, NJ 08822
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    Flemington, NJ 08822
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    Realmo Value Estimation

    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.

    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.

    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
    2 Mine St Flemington, NJ 08822
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