Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Historic Blairstown Railroad Station Title is generated by Realmo AI

    48 Hope Rd, Blairstown, NJ 07825

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $875,000

    Historic railroad station on 3 acres with auto shop.

    Type:Commercial
    Property size:
    2,000 SF
    Lot size:
    3.00 Acres
    Price / SF:
    $437/SF
    Added:
    May 9, 2026
    Days on Market:
    18
    Last Refresh:
    May 9 at 12:43 am

    Property Features for 48 Hope Rd

    General Information

    Standard status
    Active
    Size
    2,000 SF
    Lot size
    3.00 Acres
    Property subtype
    Commercial

    Building Details

    Year Built
    1911

    We can help!

    Listing Contact
    MARJORIE MORVILLE

    Listing agent MARJORIE MORVILLE

    Listing office

    Listing date May 9, 2026

    Source Elliman

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

    All listing content including descriptions, pricing, images are the copyrighted material of MARJORIE MORVILLE

    HighLights

    • Historic Blairstown railroad station on 3 acres.
    • Original engine house with two bays and loft storage, ideal for an auto shop.
    • Slated to become a station stop again as part of the Lackawanna Cut‑Off Restoration Project.
    • Expansive 800 square‑foot open area within the 2000 sq ft station house.
    • Truck‑rated concrete grounds suitable for heavy‑duty use.
    • Station house includes three offices, a kitchenette, a full bath, a half bath, and a locker/dressing room.

    Overview

    The historic Blairstown railroad station, situated on 3 acres of land, features a traditional railroad building of approximately 2000 sq ft. The building includes an expansive 800 square-foot open area, three offices, a kitchenette, one full bath with a stall shower, an adjacent locker or dressing room, and an additional half bath. Currently used as a gym, the station house offers versatile space. At the rear of the property, near the old tracks, is the original engine house, which is an ideal space for an auto shop featuring two bays, oversized garage doors, and loft storage. The grounds are constructed with truck-rated concrete, suitable for heavy-duty use. Blairstown is slated to become a station stop again as part of the Lackawanna Cut-Off Restoration Project, adding potential for future development and increased accessibility. The property has a walk score of 44, indicating it is car-dependent, and a bike score of 31, indicating it is somewhat bikeable.
    Location Intelligence

    Current Use by Public Records

    Fitness centers & gyms

    Suggested Use

    Building Supply Spa & Massage Center Auto Repair Shop Hair Salon Nail Salon Gym & Fitness Center Kitchen & Bath Showroom Food Market Accounting Firm Storage Facility

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

    Location Insight

    • Map
    • Local Demand
    City
    Blairstown
    County
    Warren
    State
    New Jersey
    Longitude
    -74.9534741
    Latitude
    40.9684528

    Nearby Similar for Sale

    • $999,000
      2,000 SF

      Historic Blairstown Railroad Station

      Historic railroad station with engine house and development potential.
      48 Hope Rd, Blairstown Twp., NJ 07825
      View Details
    • $250,000
      500 SF

      Turnkey Pizza Restaurant Opportunity

      Thriving pizza business for sale in Hope Twp., NJ.
      435 Hope-Blairstown Rd (521), Hope Twp., NJ 07825
      View Details

    FAQs

    What type of property is this?
    Fitness center & gym - Historic railroad station on 3 acres with auto shop.
    Where is this fitness center & gym located?
    The property is located at 48 Hope Rd Blairstown, NJ.
    What is the asking price?
    The asking price for this property is $875,000.
    What are key features of this property?
    This property features: Historic Blairstown railroad station on 3 acres.; Original engine house with two bays and loft storage, ideal for an auto shop.; Slated to become a station stop again as part of the Lackawanna Cut‑Off Restoration Project.
    (201) 874-2749
    We can help!
    Listing Contact
    MARJORIE MORVILLE
    Learn More
    Request Owner's contact information
    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.
    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
    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

    Thank You for Inquiry
    48 Hope Rd, Blairstown Twp., NJ 07825
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!