Building Details

Building Size 3,800 SF

Stories 9999

Units 9999

Listed By: PAMELA FABIAN Show Phone

Source: Elliman

Added: Mar 12 Changed: Oct 13 Last Checked: Oct 16 at 9:47AM

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Investment Insights

Based on property information with market context.

This completely renovated, turnkey property was previously utilized as a farmers' market and gift shop. The freestanding building is situated on a large lot with ample, well-lit parking. It is strategically located in a busy traffic area, offering high visibility to vehicles heading north or south on Route 206. Upgrades and improvements include a new roof, windows, floors, lighting, bathrooms, generator, security system, and decor. The lower level garages offer sizable space for inventory storage or interior parking for multiple vehicles.

Key Highlights

• Completely renovated, turnkey condition - move right in!
• High‑visibility location on busy RT 206.
• Large lot with ample, well‑lit parking.

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$54,238

Cap Rate

7.76%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,084,760 $1.1M

Cap Rate 7%

$774,829 $774.8K

Cap Rate 9%

$602,644 $602.6K

Is this asking price fair?

Market Conditions

NOI Build-Up for 3,800 SF

Gross rent

$82.1K $21.60/SF

− Vacancy

−$4.6K −$1.21/SF

EGI

$77.5K $20.39/SF

− OpEx

−$23.2K −$6.12/SF

NOI

$54.2K $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 Rate 5%

$1,084,760

Cap Rate 7%

$774,829

Cap Rate 9%

$602,644

Alternative Uses

Best Use

Retail

$774.8K

$678.0K – $904.0K (±1% cap)

NOI $54,238 @ 7.0% cap · market cap 7.76%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$992.3K

$868.2K – $1.16M (±1% cap)

NOI $69,458 @ 7.0% cap · market cap 9.94%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Storefront properties

Suggested Use

Top Pick Building Supply Furniture & Home Goods Auto Repair Shop Hair Salon Home Appliance Store Restaurant

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

63

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 07851, NJ

245

Population

142

Households

1.7

Avg Household Size

46

Median Age

43%

College-Educated

90%

High-School Grad

11.4 sq mi

ZIP Area

21

Density / Sq Mi

$105,139

Median Household Income

$50,208

Median Earnings

$322,500

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

Frequently Asked Questions

What type of property is this?

Storefront property - Completely renovated property on a large lot with ample parking.

Where is this storefront property located?

The property is located at 187 Us Highway 206 Layton, NJ.

What is the asking price?

The asking price for this property is $699,000.

What are key features of this property?

This property features: Completely renovated, turnkey condition - move right in!; High‑visibility location on busy RT 206.; Large lot with ample, well‑lit parking.