Redevelopment Flex Site with
71 E Broad St Hopewell, NJ 08525
New
For Sale
$2,500,000
1.81-acre redevelopment site with 330 feet of frontage and a garage structure approved for expansion and renovation.
Property Size8,400 SF
Lot Size1.81 Acres
Price / SF$297.62
Days on Market5
Property Features for 71 E Broad St
General Information
- Standard status
- Active
- Size
- 8,400 SF
- Lot size
- 1.81 Acres
Building Details
- Year Built
- 1950
Listing Agency:
Keller Williams Real Estate - Princeton
(609) 987-8889
Listed By:
Michael Briehler · License #8631404
Source:
Kandorre
Added: Jul 21
Changed: Jul 22
Last Checked: Jul 25 at 12:52PM
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 Keller Williams Real Estate - Princeton
Investment Insights
Based on property information with market context.
This 1.81-acre redevelopment site includes a former/existing garage structure with approvals to be expanded and renovated. The remaining portion of the property is described as zoned Business-Residential, supporting redevelopment options on the overall tract. Leasing of the existing building is noted as a consideration.
The property is located in the downtown of Hopewell Borough on Town’s main thoroughfare and features approximately 330 feet of frontage.
The asset is offered as a single redevelopment parcel, with expansion and renovation approvals already in place for the existing garage structure.
The property is located in the downtown of Hopewell Borough on Town’s main thoroughfare and features approximately 330 feet of frontage.
The asset is offered as a single redevelopment parcel, with expansion and renovation approvals already in place for the existing garage structure.
Key Highlights
- 1.81‑acre redevelopment site in downtown Hopewell Borough
- 330 feet of frontage on the town’s main thoroughfare
- Former/existing garage structure with approvals for expansion and renovation
Financial Insights For Industrial
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $241.9k | $28.80 |
| − Vacancy | −$17.4k | −$2.07 |
| EGI | $224.5k | $26.73 |
| − OpEx | −$67.4k | −$8.02 |
| NOI | $157.2k | $18.71 |
8,400 SF · lease $28.80/SF/yr · vacancy 7.20% · expense 30.00%
Alternative Uses
Best Use
Industrial
$2.25M
$1.96M – $2.62M
NOI $157,151 @ 7.0% cap · market cap 6.29%
Second Best
Flex RnD
$1.02M
$889.2K – $1.19M
NOI $71,139 @ 7.0% cap · market cap 2.85%
Theoretical Best
Warehouse
$2.70M
$2.36M – $3.15M
NOI $189,181 @ 7.0% cap · market cap 7.57%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Flex space
FAQs
What type of property is this?
Flex space - 1.81-acre redevelopment site with 330 feet of frontage and a garage structure approved for expansion and renovation.
Where is this flex space located?
The property is located at 71 E Broad St Hopewell, NJ.
What is the asking price?
The asking price for this property is $2,500,000.
What are key features of this property?
This property features: 1.81‑acre redevelopment site in downtown Hopewell Borough; 330 feet of frontage on the town’s main thoroughfare; Former/existing garage structure with approvals for expansion and renovation
