Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Move-In Ready Office Unit Title is generated by Realmo AI

    361 State Route 31, Flemington, NJ 08822

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Lease
    $1,500 /Mo

    Office unit with basement and kitchen area available for rent.

    Type:Commercial/Industrial
    Lot size:
    5.01 Acres
    Added:
    Oct 14, 2024
    Days on Market:
    585
    Last Refresh:
    May 19 at 11:06 pm

    Property Features for 361 State Route 31

    General Information

    Standard status
    Active
    Lot size
    5.01 Acres
    Property subtype
    Commercial/Industrial

    Building Details

    Year Built
    2006

    We can help!

    Listing Contact
    JOHN H. CARRIERE
    JOHN H. CARRIERE

    Listing agent JOHN H. CARRIERE

    Listing office BHHS FOX & ROACH

    Listing date Oct 14, 2024

    Source Exitrealty

    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 BHHS FOX & ROACH

    HighLights

    • Move‑in ready condition.
    • Additional basement‑style space included.
    • No CAM fees (built into lease price).
    • Galley kitchen area.
    • Additional access door to another unit.
    • Built in 2006.

    Overview

    This office unit is move-in ready and includes a basement-style space. It features a galley kitchen area and an additional access door to another unit, allowing for future expansions. The lease price includes Common Area Maintenance (CAM) fees.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Office Units

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Flemington
    County
    Hunterdon
    State
    New Jersey
    Longitude
    -74.854358
    Latitude
    40.50127

    Nearby Similar for Lease

    • $2,200/Mo
      10,000 SF

      Flemington Retail/Office/Medical Space Available

      Remodeled salon and spa, suitable for retail, office, or medical.
      117 Broad St - Suites 6&7, Flemington Boro, NJ 08822-1641
      View Details
    • $1,500/Mo
      1,000 SF

      Flemington Commercial Space For Rent

      Two contiguous units in Flemington, suitable for office or retail.
      117 Broad St SUITES 9-10, Flemington Boro, NJ 08822-1641
      View Details
    • $2,200/Mo
      10,000 SF

      Remodeled Salon and Spa Suites

      Remodeled salon and spa suites available for lease.
      117 Broad St - Suites 6&7, Flemington Boro, NJ 08822
      View Details
    • $1,100/Mo
      1,189 SF

      Downtown Flemington Office Space Available

      1,189 SF office space for lease in Flemington.
      160 Main St, Flemington, NJ 08822-1674
      View Details
    • $9 SF/Yr
      3,000 SF

      Raritan Twp. Commercial Space Available

      3,000 sqft commercial space for lease in Raritan Twp.
      14 Commerce St, Raritan Twp., NJ 08822
      View Details
    • $19 SF/Yr
      2,000 SF

      Flemington Retail Space Available

      Two adjacent retail units available for lease in Flemington.
      318 Walter E Foran Blvd, Flemington, NJ
      View Details
    • $1,100/Mo
      1,189 SF

      Downtown Flemington Retail Space Available

      1,189 SF retail space in Downtown Flemington for lease.
      160 Main St, Flemington Boro, NJ 08822
      View Details
    • $475/Mo
      6,783 SF

      Historic Flemington Office Space

      Third-floor office space available for lease in historic Flemington.
      24 Mine Street, Flemington Boro, NJ 08822
      View Details
    • $1.00 SF/Yr
      69,400 SF

      New Industrial Flex Space Available

      New construction industrial flex space with easy highway access.
      11 Royal Rd, Raritan Twp., NJ 08822-6001
      View Details
    • $1,700/Mo

      Functional Retail Space For Rent

      Modern retail space with abundant natural light and flexible layout.
      131 Main St, Flemington Boro, NJ 08822
      View Details
    • $2,000/Mo

      Spacious Garage with Crane/Hoist

      Functional bay garage with crane, bath, and ample parking.
      18 Allen St, Flemington Boro, NJ 08822
      View Details
    • $26 SF/Yr
      12,240 SF

      Medical/Office Suite Near Hunterdon Medical

      1,947 SF medical/office suite for lease near Hunterdon Medical.
      194 State Highway 31, Flemington , NJ 08822
      View Details

    FAQs

    What type of property is this?
    Office units - Office unit with basement and kitchen area available for rent.
    Where is this office units located?
    The property is located at 361 State Route 31 Flemington, NJ.
    What is the lease rate?
    The lease rate is $1,500 /Mo.
    What are key features of this property?
    This property features: Move‑in ready condition.; Additional basement‑style space included.; No CAM fees (built into lease price).
    (908) 581-0300
    We can help!
    Listing Contact
    JOHN H. CARRIERE
    JOHN H. CARRIERE
    Learn More
    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
    361 State Route 31, Raritan Twp., NJ 08822
    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!