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

    304 Route 31 Hopewell, NJ 08525

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $295,000

    High-traffic location, shovel-ready lot, approved plans.

    Property Features for 304 Route 31

    General Information

    Property type
    Mixed-use properties
    Lot Size
    46,174 SF

    We can help!

    Listing Contact
    Linda Reciniello

    Listing Agency: COLDWELL BANKER REALTY Listing Agent: Linda Reciniello

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    This exceptional 1.06-acre corner lot in Hopewell, NJ, presents a remarkable opportunity for commercial development. Situated at the heavily trafficked intersection of Route 31 and Route 518, this property boasts unparalleled visibility and accessibility. Its strategic location provides easy access to major roadways including Route 287, Route 78, and Route 202, offering seamless connections to I-95 and I-295. Furthermore, Route 518 provides convenient access to Skillman, Princeton, New Hope, PA, and numerous other surrounding areas. The property is already approved for construction, featuring plans for two commercial units on the first floor and two one-bedroom residential units on the second floor. One residential unit will be designated as a low-income unit for residents aged 55+. The substantial basement offers 1840 square feet of space, while the first floor comprises 2400 square feet, and the second floor encompasses 1400 square feet. The total above-ground building footprint is 3800 square feet (60ft wide x 46ft deep). Food establishments are also approved for this location. The lot is completely shovel-ready, making this an ideal investment for immediate development. Architectural renderings and floor plans are available upon request. This is a truly unique opportunity to capitalize on a prime location and pre-approved plans.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Mixed-use properties

    Suggested Use

    Restaurant Law Firm Building Supply Dental Office Gym & Fitness Center Kitchen & Bath Showroom Food Market Garden Center Electrical Service Daycare Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Hopewell
    County
    Hunterdon
    State
    New Jersey
    Longitude
    -74.8205
    Latitude
    40.38341

    Nearby Similar for Sale

    • $554,900

      Mixed-Use Property in Hopewell Borough

      Mixed-use property with commercial and residential spaces in prime location.
      14 Seminary Ave, Hopewell, NJ 08525
      View Details
    • $2,600,000
      5,000 SF

      Hopewell Borough Redevelopment Site

      Prime 1.81-acre site, redevelopment ready.
      71 Broad St, Hopewell, NJ 08525
      View Details
    • $1,700,000
      4,800 SF

      20 Model Ave, Hopewell, NJ 08525

      Mixed-use properties • 4,800 SF
      20 Model Ave, Hopewell, NJ 08525
      View Details
    • Contact for pricing

      Hopewell Office Suite - Owner Financing

      Prime Hopewell Office Space, Flexible Lease
      83 D, Hopewell, NJ 08525
      View Details

    FAQs

    What type of property is this?
    Mixed-use property - High-traffic location, shovel-ready lot, approved plans.
    Where is this mixed-use property located?
    The property is located at 304 Route 31 Hopewell, NJ.
    What is the asking price?
    The asking price for this property is $295,000.
    (908) 782-6850
    Request Owner's contact information
    304 Route 31 Hopewell, NJ 08525
    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.
    304 Route 31
    Hopewell, NJ 08525
    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
    304 Route 31 Hopewell, NJ 08525
    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
    Linda Reciniello
    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!