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    Township Mine Hl Mine Hill, NJ 07803

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    For Sale
    Contact for pricing

    New construction apartment building with modern amenities in Morris County.

    Property size:
    81,776 SF

    Property Features for Township Mine Hl

    General Information

    Size
    81,776 SF

    We can help!

    Listing Contact
    Gregory James
    Source: Naihanson

    Listing Agent: Gregory James

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

    Learn more

    Overview

    Luxury Apartment Building in Mine

    Located in a residential neighborhood bordering Hedden Park, 106 Hurd Street is a new construction apartment building completed between 2023 and 2024. The 57-unit building offers one, two, and three-bedroom units, pending approval. Constructed with high-quality materials, the building provides a modern and luxurious environment with high-end finishes throughout the lobby, community areas, and living spaces. Every detail was considered during construction for ease of use and access, including ample parking and full security camera monitoring. Building amenities include a welcoming entrance and lobby, community areas with a pool table, TVs, a fireplace, bar, and kitchen, as well as fitness facilities, work stations, and a pet wash room. The location is half a mile from US Highway 46 and convenient to Routes 10 and 15, and I-80. Transportation is easily accessible with nearby bus stops and train stations, providing efficient travel within New Jersey and to major cities such as New York and Pennsylvania. The area offers a 'Live, Work, Play' environment with restaurants, shopping, bars, colleges, and entertainment nearby, including hiking trails, lakes, nature preserves, and scenery. This tranquil setting is located in a quiet suburb of Morris County.
    Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Map

    City
    Mine Hill
    County
    Morris
    State
    New Jersey
    Longitude
    -74.6008
    Latitude
    40.8782

    FAQs

    What type of property is this?
    Apartment building - New construction apartment building with modern amenities in Morris County.
    Where is this apartment building located?
    The property is located at Township Mine Hl Mine Hill, NJ.
    What are key features of this property?
    This property features: - New construction luxury apartment building (2023-2024) with high-end finishes.; - Convenient location near US Highway 46, Routes 10 and 15, and I-80, with easy access to public transportation.; - Located in a quiet Morris County suburb bordering Hedden Park.
    (201) 488-5800
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    Township Mine Hl Mine Hill, NJ 07803
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    Township Mine Hl
    Mine Hill, NJ 07803
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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
    Township Mine Hl Mine Hill, NJ 07803
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    Listing Contact
    Gregory James
    (201) 488-5800
    Learn more
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