Mixed-Use Buildings in Basking
For Sale
$2,400,000
31 S Finley Ave, Basking Ridge, NJ 07920
Mixed-use property with seven tenants and a large parking lot.
Property Size5,750 SF
Lot Size0.25 Acres
Price / SF$417.39
Days on Market152
Property Features for 31 S Finley Ave
General Information
Standard status
Active
Size
5,750 SF
Lot size
0.25 Acres
Building Details
Year Built
1960
Listing Agency:
NEXTHOME PREMIER
Listed By:
MARYALICE M. RAUSHI · License #7857167,PersonLicenseNumber
(908) 672-7006
Source:
Luminancerealty
Added: May 18
Changed: Oct 13
Last Checked: Oct 5 at 9:30PM
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 NEXTHOME PREMIER
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This mixed-use property presents a rare opportunity for investors and is situated in the center of Basking Ridge on 0.25 acres. The property includes two buildings located at 31 South Finley and 32 Brownlee Place. It features a large parking lot with 14 spots, supplemented by on-street parking. The buildings are fully occupied by seven tenants and offer a 7% cap rate. The location has a bike score of 27, indicating it is somewhat bikeable, and a walk score of 22, suggesting car dependence.
Key Highlights
- Fully Occupied with 7% Cap Rate
- Two Buildings on One Lot
- Prime Location in the Center of Basking Ridge
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$96,628
Cap Rate
4.03%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,932,560
$1.9M
Cap Rate 7%
$1,380,400
$1.4M
Cap Rate 9%
$1,073,644
$1.1M
Market Conditions
NOI Build-Up for 5,750 SF
Gross rent
$198.7K $34.56/SF
− Vacancy
−$44.1K −$7.67/SF
EGI
$154.6K $26.89/SF
− OpEx
−$58.0K −$10.08/SF
NOI
$96.6K $16.80/SF
Area
Somerset County, NJ
Vacancy
22.20%
Lease Rate
$34.56 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,932,560
Cap Rate 7%
$1,380,400
Cap Rate 9%
$1,073,644
Alternative Uses
Best Use
Mixed Use
$1.38M
$1.21M – $1.61M
NOI $96,628 @ 7.0% cap · market cap 4.03%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.50M
$1.31M – $1.75M
NOI $105,101 @ 7.0% cap · market cap 4.38%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
418
Businesses Nearby
Explore this area
Business Placement
Demographics for 07920, NJ
27,912
Population
10,943
Households
2.6
Avg Household Size
45
Median Age
74%
College-Educated
97%
High-School Grad
27.2 sq mi
ZIP Area
1,026
Density / Sq Mi
$184,630
Median Household Income
$101,310
Median Earnings
$2,330
Median Rent
$769,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Frequently Asked Questions
What type of property is this?
Mixed-use property - Mixed-use property with seven tenants and a large parking lot.
Where is this mixed-use property located?
The property is located at 31 S Finley Ave Basking Ridge, NJ.
What is the asking price?
The asking price for this property is $2,400,000.
What are key features of this property?
This property features: Fully Occupied with **7% Cap Rate**; Two Buildings on One Lot; Prime Location in the Center of Basking Ridge
