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    187 Breakneck Rd Highland Lakes, NJ 07422

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    Claim this Listing
    New
    For Sale
    $449,000

    Commercial - Vernon Twp., NJ

    Lot size:
    0.40 Acres
    Added:
    May 4, 2026
    Days on Market:
    4
    Last Refresh:
    May 7 at 7:06 am

    Property Features for 187 Breakneck Rd

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    PLC
    Rooms
    Basement
    Basement Y/N
    1
    Standard status
    Active
    Lot size
    0.40 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Annual Amount
    4865

    Utilities

    Heating system
    Forced Air
    Cooling system
    Central Air

    Building Details

    Year built
    1940
    Floors in Building
    2
    Number of units
    2
    Building materials
    Vinyl Siding
    Roof type
    Asphalt, Shingle
    Architectural style
    Other

    We can help!

    Listing Contact
    KRISTI ANDERSON

    Listing agent KRISTI ANDERSON

    Listing office BHGRE GREEN TEAM 293 ROUTE 94, Vernon, NJ

    Listing date May 4, 2026

    MLS# 4025179 Listing URL

    Copyright © 2026 Garden State MLS, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Mixed‑use property: Thriving office space and comfortable 1‑bedroom apartment.
    • Renovated office space (2017) with reception area, private office, and flexible rooms.
    • Renovated apartment (2020) features a well‑appointed kitchen, spacious living area, and in‑unit washer & dryer.
    • Ideal for owner‑operator or investor seeking rental income.
    • Fenced yard and shed provide private outdoor space and extra storage.
    • Central Air and Forced Air heating.

    Overview

    Versatile Mixed-Use Commercial Property

    This versatile commercial property features a thriving office space and a comfortable one-bedroom apartment. It presents an opportunity for an owner-operator to run their business while enjoying the convenience of a residence, or for an investor seeking rental income from a mixed-use building. The office space includes a reception area, a private office, and two flexible rooms suitable for meeting rooms or conference spaces, with the potential to be reconfigured into larger open areas. A dedicated storage room is also included. The entire office area was renovated in 2017. The one-bedroom apartment, renovated in 2020, offers comfortable living. The kitchen is open to a spacious living area. The bathroom features a tub and includes a washer and dryer. The bedroom is generously sized and includes two closets. The apartment provides a quiet retreat above the workspace and is suitable for an owner-occupant or a rental unit. A fenced yard provides a private outdoor area, and a shed adds extra storage space. The property is located in Vernon Twp., NJ, on a lot of 0.4 acres.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Highland Lakes Chiropractic Alternative Medicine Practice

    Suggested Use

    Restaurant Real Estate Agency Law Firm Big Box & Wholesale Store Hair Salon Hotel & Motel Auto Parts Store Department Store Kitchen & Bath Showroom Food Market

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

    Location Insight

    • Map
    • Local Demand
    City
    Highland Lakes
    County
    Sussex
    State
    New Jersey
    Longitude
    -74.45727
    Latitude
    41.18226

    FAQs

    What type of property is this?
    Mixed-use property - Thriving office space with a comfortable one-bedroom apartment.
    Where is this mixed-use property located?
    The property is located at 187 Breakneck Rd Highland Lakes, NJ.
    What is the asking price?
    The asking price for this property is $449,000.
    What are key features of this property?
    This property features: Mixed‑use property: Thriving office space and comfortable 1‑bedroom apartment.; **Renovated office space (2017) with reception area, private office, and flexible rooms.**; **Renovated apartment (2020) features a well‑appointed kitchen, spacious living area, and in‑unit washer & dryer.**
    (973) 814-7344
    We can help!
    Listing Contact
    KRISTI ANDERSON
    Learn More
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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
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    187 Breakneck Rd, Vernon Twp., NJ 07422-1912
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