Building Details

Floors in Building 1

Listing Agency: Real Broker, LLC- Fairfield n***@therealbrokerage.com Show Phone

Listed By: John Natale · License #790719 Show Phone

Added: Aug 18 Changed: Oct 5 Last Checked: Oct 10 at 8:06AM

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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.

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 / Yr

$14,273

Cap Rate

5.71%

Suggested Prices Based on Cap Rates

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

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

Somerset 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 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 (±1% cap)

NOI $14,273 @ 7.0% cap · market cap 5.71%

Second Best

Industrial

$160.3K

$140.3K – $187.1K (±1% cap)

NOI $11,224 @ 7.0% cap · market cap 4.49%

Theoretical Best

Office A

$261.1K

$228.5K – $304.6K (±1% cap)

NOI $18,278 @ 7.0% cap · market cap 7.31%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Auto shops

Suggested Use

Top Pick Real Estate Agency Garden Center Locksmith Carpet & Flooring Store Catering Service Storage Facility

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

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

6% 2019

7.1% 2020

6.5% 2021

6% 2022

5.7% 2023

5.6% 2024

6% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this auto shops located? What is the asking price? Find similar properties What are key features of this property?

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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