Commercial Development Investment
2 Harrison St Sussex, NJ 07461
2 Harrison St, Sussex, NJ, 07461
$420,000
For Sale
$420,000
Prime commercial development opportunity in Sussex Borough with mixed-use potential.
Property Size1,488 SF
Price / SF$282.26
Days on Market412
Property Features for 2 Harrison St
General Information
- Standard status
- Active
- Size
- 1,488 SF
Building Details
- Year Built
- 1920
Listing Agency
COLDWELL BANKER REALTY
Listed by
SEAN CLARKIN
Source
Corcoran
Added: Jun 2, 2025 Checked: Mar 16 at 9:09 am
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 COLDWELL BANKER REALTY
Investment Insights
Based on property information with market context.
This commercial property in Sussex Borough presents a development opportunity with a combination of residential and commercial rental spaces. The main structure features three or more levels, suitable for apartments, office space, retail units, or a mixed-use concept. A separate two-level garage structure at the rear of the property offers additional development potential or secure storage. On-site parking between the two buildings enhances accessibility. The property is positioned to benefit from ongoing revitalization and expansion in Sussex Borough. The property size is 1488 square feet. The property is priced for a quick cash sale.
Key Highlights
- Prime commercial development investment opportunity in Sussex Borough.
- Opportunity to develop a distinctive combination of residential and commercial rental spaces.
- Main structure features three or more levels, ready for custom design (apartments, office, retail, mixed‑use).
Local Financial Insights For Mixed Use
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 | $26.8k | $18.00 |
| − Vacancy | −$3.2k | −$2.16 |
| EGI | $23.6k | $15.84 |
| − OpEx | −$8.8k | −$5.94 |
| NOI | $14.7k | $9.90 |
1,488 SF · lease $18.00/SF/yr · vacancy 12.00% · expense 37.50%
Alternative Uses
Best Use
Mixed Use
$210.4K
$184.1K – $245.5K
NOI $14,731 @ 7.0% cap · market cap 3.51%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$388.5K
$340.0K – $453.3K
NOI $27,198 @ 7.0% cap · market cap 6.48%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Commercial land
Similar For Sale Nearby
FAQs
What type of property is this?
Commercial land - Prime commercial development opportunity in Sussex Borough with mixed-use potential.
Where is this commercial land located?
The property is located at 2 Harrison St Sussex, NJ.
What is the asking price?
The asking price for this property is $420,000.
What are key features of this property?
This property features: Prime commercial development investment opportunity in Sussex Borough.; Opportunity to develop a distinctive combination of residential and commercial rental spaces.; Main structure features three or more levels, ready for custom design (apartments, office, retail, mixed‑use).
