Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Garages For Rent Near Route Title is generated by Realmo AI

    3 Hillside Terrace, Newton, NJ 07860

    View on Map
    Claim this Listing
    Picture of Parking lots & garages at 3 Hillside Terrace, Newton, NJ
    For Lease
    $195 SF/Yr

    Commercial - Newton Town, NJ

    Lot size:
    1.68 Acres
    Added:
    Feb 28, 2024
    Days on Market:
    819
    Last Refresh:
    May 27 at 11:06 pm

    Property Features for 3 Hillside Terrace

    General Information

    Property type
    Commercial Lease
    Property subtype
    Other
    Zoning
    garage
    Standard status
    Active
    Lot size
    1.68 Acres

    Taxes and HOA fees

    Tax Year
    2023
    Tax Annual Amount
    28060

    Building Details

    Year built
    1960
    Flooring type
    Concrete
    Building materials
    Vinyl Siding
    Architectural style
    Other

    We can help!

    Listing Contact
    PAOLA N CHIESA
    PAOLA N CHIESA

    Listing agent PAOLA N CHIESA

    Listing office REALTY EXECUTIVES EXCEPTIONAL 54 WOODPORT ROAD, Fairfield, NJ

    Listing date Feb 28, 2024

    MLS# 3888306 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

    • Two Detached Garages Available
    • Lease Only
    • Rent: $250 each
    • Short or Long Term Lease options
    • Close To Route 206
    • Built in 1960

    Overview

    Two detached garages are available for lease. The property is located close to Route 206 in Newton Town, NJ. Short or long-term lease options are available. The lot size is 1.68 acres. The zoning is garage. The intended use of the property is for commercial purposes.
    Property Profile Location Intelligence

    Current Use by Public Records

    Parking lots & garages

    Suggested Use

    Law Firm Restaurant Spa & Massage Center Dental Office Nail Salon Food Market Gym & Fitness Center Skin Care Clinic Pharmacy Bar & Pub

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

    Similar Places Nearby

    • John's Automotive Diagnostics — 21 E Clinton St, Newton, NJ 07860
    • Tool & Truck Rental Center at The Home Depot — 7 N Park Dr, Newton, NJ 07860
    • U-Haul Neighborhood Dealer — 249 Spring St, Newton, NJ 07860

    Location Insight

    • Map
    • Local Demand
    City
    Newton
    County
    Sussex
    State
    New Jersey
    Longitude
    -74.76102
    Latitude
    41.05608

    Nearby Similar for Lease

    • $2,200/Mo
      2,300 SF

      Retail Space in Gazebo Plaza

      High-visibility retail space in impeccably maintained Andover Twp. plaza.
      253 Newton Sparta Rd, Andover Twp., NJ 07860-2786
      View Details
    • $2,100/Mo
      7,910 SF

      Remodeled Retail Space on Spring

      Newly remodeled retail space in Newton, ideal for various businesses.
      65 Spring St, Newton Town, NJ 07860-2096
      View Details
    • $6,650/Mo
      3,800 SF

      Retail Space in Newton Town

      Commercial space available immediately in Newton Town, New Jersey.
      105 Water St, Newton Town, NJ 07860-1551
      View Details
    • $2,200/Mo
      2,300 SF

      High Visibility Retail/Office Space

      Well-maintained retail/office space in high-traffic area. Available June 2026.
      253 Newton Sparta Rd, Andover Twp., NJ 07860-2786
      View Details
    • $2,050/Mo

      Andover Office Space For Rent

      Second-floor office space with open layout, natural light, and parking.
      280 Newton Sparta Rd, Andover Twp., NJ 07860-2775
      View Details
    • $350/Mo
      850 SF

      Newton Town Storage Space Available

      Approximately 800 sqft storage space for rent in Newton Town.
      77 Swartswood Rd, Newton Town, NJ 07860-1100
      View Details
    • $1,200/Mo

      Professional Office Space For Rent

      Well-maintained office space with lake view and ample parking.
      31 Newton Sparta Rd, Andover Twp., NJ 07860-2774
      View Details
    • Contact for pricing
      17,360 SF

      Downtown Newton Commercial Space Available

      Commercial spaces in historic downtown Newton, suitable for various uses.
      237 Spring Street and 4 Union Place, Newton, NJ 07860
      View Details
    • $1,800/Mo

      Updated Apartment Near Newton Center

      Spacious 2-bedroom apartment with modern amenities and convenient location.
      83 High St 2, Newton, NJ 07860-1707
      View Details
    • $1,695/Mo

      Renovated Apartment on Spring Street

      Spacious, renovated first-floor apartment near shopping, dining, and transportation.
      196 Spring St 2, Newton, NJ 07860-2053
      View Details
    • $2,300/Mo

      Spacious Apartment in Newton, NJ

      Well-kept 2-bedroom apartment near downtown Newton amenities.
      88 Trinity St, Newton, NJ 07860-2220
      View Details
    • $12 SF/Yr

      Renovated Studio in Downtown Newton

      Charming, renovated studio apartment in the heart of downtown Newton.
      180 Spring St, Newton, NJ 07860-2011
      View Details

    FAQs

    What type of property is this?
    Parking lot & garage - Detached garages available for short or long-term lease near Route.
    Where is this parking lot & garage located?
    The property is located at 3 Hillside Terrace Newton, NJ.
    What is the lease rate?
    The lease rate is $195 SF/Yr.
    What are key features of this property?
    This property features: Two Detached Garages Available; Lease Only; Rent: $250 each
    (973) 575-6700
    We can help!
    Listing Contact
    PAOLA N CHIESA
    PAOLA N CHIESA
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    3 Hillside Terrace, Newton Town, NJ 07860-1202
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!