Two-Story Mixed-Use
For Sale
$1,300,000
3031 State Route 27, Franklin, NJ 08823
Commercial Sale, Franklin, NJ
Property Size8,320 SF
Lot Size0.80 Acres
Price / SF$156.25
Days on Market123
Property Features for 3031 State Route 27
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
NBH
Parking
38
Parking features
Open, Parking Lot
Interior features
Carpeting, Lighting Fixtures
Lot features
Near Public Transit, Near Shopping, Highway Commercial
Directions
Route 27 1000 feet south of Finnegans Lane.
Standard status
Active
APN
0800048000000003
Size
8,320 SF
Lot size
0.80 Acres
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
19959
Utilities
Sewer type
Public Sewer
Heating system
Forced Air
Cooling system
Central Air
Water source
Public
Building Details
Year built
1987
Floors in Building
2
Flooring type
Wood, Laminate, Carpet, Lighting fixtures
Building materials
Vinyl Siding
Roof type
Asphalt
Listing Agency:
KUKER & KESSLER REAL ESTATE
(732) 297-8282
Listed By:
Jon Kessler
(732) 829-8222
Added: May 4
Changed: Sep 1
Last Checked: Sep 3 at 9:06PM
MLS# 2615084R
Copyright © 2026 All Jersey MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 8,320-square-foot mixed-use commercial building was constructed in 1987 and contains three commercial or retail units on the first floor with four office units above. Separate HVAC serves the spaces, and the property includes six bathrooms, carpeting, laminate, wood flooring, lighting fixtures, vinyl siding, forced-air heat, and central air conditioning. The real estate office business is excluded from the sale.
Positioned along State Route 27 in Franklin, the property sits on 0.8027 acres within NBH zoning. Open parking is provided on the lot, while public water and public sewer serve the building. CAM includes water and sewer for the commercial units, excluding the real estate office.
Positioned along State Route 27 in Franklin, the property sits on 0.8027 acres within NBH zoning. Open parking is provided on the lot, while public water and public sewer serve the building. CAM includes water and sewer for the commercial units, excluding the real estate office.
Key Highlights
- 8,320‑square‑foot mixed‑use building on 0.8027 acres
- Three first‑floor commercial or retail units plus four second‑floor office units
- Fully occupied commercial property with separate HVAC for the spaces
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$118,754
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
9.13%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,375,080
$2.4M
Cap Rate 7%
$1,696,486
$1.7M
Cap Rate 9%
$1,319,489
$1.3M
Market Conditions
NOI Build-Up for 8,320 SF
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.
Gross rent
$179.7K $21.60/SF
− Vacancy
−$10.1K −$1.21/SF
EGI
$169.6K $20.39/SF
− OpEx
−$50.9K −$6.12/SF
NOI
$118.8K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,375,080
Cap Rate 7%
$1,696,486
Cap Rate 9%
$1,319,489
Alternative Uses
Best Use
Office B
$1.82M
$1.59M – $2.12M
NOI $127,296 @ 7.0% cap · market cap 9.79%
Second Best
Retail
$1.70M
$1.48M – $1.98M
NOI $118,754 @ 7.0% cap · market cap 9.13%
Theoretical Best
Office A
$2.17M
$1.90M – $2.53M
NOI $152,076 @ 7.0% cap · market cap 11.70%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Office units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
672
Businesses Nearby
Explore this area
Business Placement
Demographics for 08823, NJ
9,282
Population
3,445
Households
2.7
Avg Household Size
40
Median Age
58%
College-Educated
92%
High-School Grad
3.5 sq mi
ZIP Area
2,652
Density / Sq Mi
$109,182
Median Household Income
$54,995
Median Earnings
$2,242
Median Rent
$279,400
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Fully occupied commercial property combining street-level retail with separately conditioned office suites and on-site parking.
Where is this mixed-use property located?
The property is located at 3031 State Route 27 Franklin, NJ.
What is the asking price?
The asking price for this property is $1,300,000.
What are key features of this property?
This property features: 8,320‑square‑foot mixed‑use building on 0.8027 acres; Three first‑floor commercial or retail units plus four second‑floor office units; Fully occupied commercial property with separate HVAC for the spaces
