Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    321 State Rt 94 Vernon, NJ 07462

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $2,250,000

    Strategically important development parcel in Vernon's Town Center District.

    Lot size:
    10.64 Acres

    Property Features for 321 State Rt 94

    General Information

    Standard status
    Active
    Lot size
    10.64 Acres

    We can help!

    Listing Contact
    Steven Rosal
    Source: Corcoran

    Listing Agency: REALTY EXECUTIVES MOUNTAIN PROP. Listing Agent: Steven Rosal

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    10.5-Acre Mixed-Use Development Site

    This 10.5-acre mixed-use development site is located at the center of the designated Town Center District in Vernon. It is zoned for 3-story mixed-use development, offering flexibility for multifamily, townhomes, senior housing, professional office, and retail uses. Adjacent municipal and privately owned parcels provide potential for phased expansion into a fully integrated Town Center district. The property has a PSPA-aligned pricing and entitlement structure with a transparent density-based framework. Full utilities and existing roadway access are available. The property is adjacent to schools, municipal services, Mountain Creek Resort, and Vernon’s commercial corridor (State Rt. 94), supporting efficient development and community connectivity. It is located in close proximity to Warwick, NY, and local resorts Mountain Creek and Crystal Springs Golf Resort.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Hair Salon Dental Office Nail Salon Food Market Grocery & Convenience Store Gym & Fitness Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Vernon
    County
    Camden
    State
    New Jersey
    Longitude
    -74.4961
    Latitude
    41.1872

    Nearby Similar for Sale

    • $599,000
      2,985 SF

      Vernon Twp. Commercial Opportunity

      Mixed-use property near Mountain Creek Ski Resort with investment potential.
      276 State Rt 94, Vernon, NJ 07462
      View Details
    • $575,000
      4,780 SF

      Vernon Twp. Office Space

      High visibility office space with long-term tenants.
      1 State Rt 94, Vernon, NJ 07462
      View Details
    • $425,000

      Spacious Ranch in Highland Lakes

      Four-bedroom ranch with finished basement in active lake community.
      175 Highland Lakes Rd, Vernon, NJ 07422
      View Details
    • $80,000
      858 SF

      Office Unit in Vernon Township

      Well-established 858 sq ft office space for sale.
      5 State Rt 94, Vernon, NJ 07462
      View Details
    • $599,000
      2,985 SF

      Vernon Township Commercial Property For Sale

      Commercial property in Vernon Township with high visibility and road traffic.
      276 State Rt 94, Vernon, NJ 07462
      View Details
    • $325,000
      600 SF

      Vernon Commercial Property For Sale

      Commercial property in Vernon's Town Center Zone, suitable for various uses.
      542 County Route 515, Vernon, NJ 07462
      View Details
    • $499,900

      Vernon Specialty Property For Sale

      Specialty property available for purchase in Vernon, New Jersey.
      13 Maple Cres, Vernon, NJ 07462
      View Details
    • $439,000

      Vernon Specialty Property For Sale

      Specialty property available for purchase in Vernon, New Jersey.
      5 Maple Cres, Vernon, NJ 07462
      View Details
    • $80,000

      Established Office Unit For Sale

      Office unit for sale in well-established office complex.
      5 State Rt 94, Vernon, NJ 07462
      View Details
    • $219,800

      Updated Unit in Great Gorge

      Bright, updated unit with amenities in Great Gorge Village.
      1 Powderhorn Ct, Vernon, NJ 07462
      View Details
    • $334,900

      First-Floor Condo with Pool View

      Spacious condo with pool view and luxurious amenities.
      3-11 Pine Cres, Vernon, NJ 07462
      View Details
    • $199,900

      Great Gorge Village End-Unit Condo

      Move-in ready condo near ski slope, pool, and spa.
      3 Deer Valley Ln, Vernon, NJ 07462
      View Details

    FAQs

    What type of property is this?
    Commercial land - Strategically important development parcel in Vernon's Town Center District.
    Where is this commercial land located?
    The property is located at 321 State Rt 94 Vernon, NJ.
    What is the asking price?
    The asking price for this property is $2,250,000.
    What are key features of this property?
    This property features: - 10.5-acre mixed-use development site in the center of the Town Center District.; - Zoned for 3-story mixed-use development with broad by-right flexibility including multifamily, townhomes, senior housing, office, and retail.; - PSPA-aligned pricing and entitlement structure offers a transparent density-based framework.
    (973) 827-6767
    Request Owner's contact information
    321 State Rt 94 Vernon, NJ 07462
    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.
    321 State Rt 94
    Vernon, NJ 07462
    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
    321 State Rt 94 Vernon, NJ 07462
    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

    We can help!
    Listing Contact
    Steven Rosal
    (973) 827-6767
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!