Auto Shop with Vehicle
For Sale
$250,000
Pending
126 Martin Street, Franklin, NJ 08873
Commercial Sale, Franklin, NJ
Property Size1,000 SF
Lot Size0.11 Acres
Days on Market8
Property Features for 126 Martin Street
General Information
Property type
Commercial Sale
Property subtype
Other
Rooms
Basement
Directions
Pershing Ave to Martin St
Standard status
Pending
APN
08-00230-0000-00035
Size
1,000 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
3769
Utilities
Sewer type
Public Sewer
Heating system
Forced Air
Water source
Public
Building Details
Floors in Building
1
Listing Agency:
Real Broker, LLC- Fairfield
(855) 450-0442
Listed By:
John Natale · License #278939
(855) 450-0442
Added: Aug 18
Changed: Aug 20
Last Checked: Aug 25 at 5:06AM
MLS# 22625843
Copyright © 2026 More MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 1,000-square-foot garage property occupies a 0.11-acre parcel and includes basement space. The site was previously used as an automobile sales lot and provides room for approximately 12–15 vehicles. Forced-air heating serves the building.
The property is located at 126 Martin Street in Franklin, New Jersey, within Somerset County. Public water and public sewer service the site.
The property is located at 126 Martin Street in Franklin, New Jersey, within Somerset County. Public water and public sewer service the site.
Key Highlights
- 1,000‑square‑foot garage on a 0.11‑acre parcel
- Vehicle area accommodates approximately 12–15 automobiles
- Previously operated as a used auto sales lot
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$14,273
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.71%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$285,460
$285.5K
Cap Rate 7%
$203,900
$203.9K
Cap Rate 9%
$158,589
$158.6K
Market Conditions
NOI Build-Up for 1,000 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$21.6K $21.60/SF
− Vacancy
−$1.2K −$1.21/SF
EGI
$20.4K $20.39/SF
− OpEx
−$6.1K −$6.12/SF
NOI
$14.3K $14.27/SF
Area
Sussex County, NJ
Vacancy
5.60%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$285,460
Cap Rate 7%
$203,900
Cap Rate 9%
$158,589
Alternative Uses
Best Use
Retail
$203.9K
$178.4K – $237.9K
NOI $14,273 @ 7.0% cap · market cap 5.71%
Second Best
Industrial
$160.3K
$140.3K – $187.1K
NOI $11,224 @ 7.0% cap · market cap 4.49%
Theoretical Best
Office A
$261.1K
$228.5K – $304.6K
NOI $18,278 @ 7.0% cap · market cap 7.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
643
Businesses Nearby
92k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 38%
Shops & Services 33%
Groceries 26%
Apparel 2%
Aldi
Groceries
23,884 visits/mo
0.4 miles
Dunkin' Donuts
Dining
12,049 visits/mo
0.4 miles
Burger King
Dining
8,970 visits/mo
0.4 miles
Exxon
Shops & Services
8,832 visits/mo
0.1 miles
KFC
Dining
8,334 visits/mo
0.2 miles
Demographics for 08873, NJ
55,500
Population
22,142
Households
2.5
Avg Household Size
42
Median Age
54%
College-Educated
93%
High-School Grad
32.1 sq mi
ZIP Area
1,729
Density / Sq Mi
$117,866
Median Household Income
$61,727
Median Earnings
$1,942
Median Rent
$438,600
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Auto shop - Garage property with public water, public sewer, and forced-air heat.
Where is this auto shop located?
The property is located at 126 Martin Street Franklin, NJ.
What is the asking price?
The asking price for this property is $250,000.
What are key features of this property?
This property features: 1,000‑square‑foot garage on a 0.11‑acre parcel; Vehicle area accommodates approximately 12–15 automobiles; Previously operated as a used auto sales lot
