Building Details

Building Size 3,104 SF

Year Built 1949

Stories 1

Units 1

Tenancy Single

Listing Agency: Weichert Realtors Show Phone

Listed By: Duffy Brennan Show Phone

Source: Cammarotarealestate

Added: May 22 Changed: Oct 22 Last Checked: Oct 22 at 2:20PM

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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 Weichert Realtors

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Review the available facts, identify missing information and prepare questions for the agent.

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Investment Insights

Based on property information with market context.

This 3,104-square-foot storefront property was built in 1949 and has since received renovations. Improvements include newer HVAC systems and a newer roof.

The property is zoned HC-1 and has a long-term tenant in place. Its storefront classification and existing tenancy are the primary documented features of the offering.

Key Highlights

• 3,104‑square‑foot storefront property
• HC‑1 zoning
• Newer HVAC systems and roof

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$44,304

Cap Rate

6.56%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$886,080 $886.1K

Cap Rate 7%

$632,914 $632.9K

Cap Rate 9%

$492,267 $492.3K

Is this asking price fair?

Market Conditions

NOI Build-Up for 3,104 SF

Gross rent

$67.0K $21.60/SF

− Vacancy

−$3.8K −$1.21/SF

EGI

$63.3K $20.39/SF

− OpEx

−$19.0K −$6.12/SF

NOI

$44.3K $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 Rate 5%

$886,080

Cap Rate 7%

$632,914

Cap Rate 9%

$492,267

Alternative Uses

Best Use

Retail

$632.9K

$553.8K – $738.4K (±1% cap)

NOI $44,304 @ 7.0% cap · market cap 6.56%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$810.5K

$709.2K – $945.6K (±1% cap)

NOI $56,736 @ 7.0% cap · market cap 8.41%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Storefront properties

Suggested Use

Top Pick Real Estate Agency Dental Office Law Firm Hair Salon Spa & Massage Center Skin Care Clinic

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Single-tenant

Tenancy

Location Intelligence

Trade Area within ½ mile

321

Businesses Nearby

51k

Monthly Visits Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Foot Traffic Nearby

Groceries 57% Shops & Services 43%

ShopRite Groceries

28,768 visits/mo 0.5 miles

Chase Bank Shops & Services

6,964 visits/mo 0.3 miles

TD Bank Shops & Services

5,290 visits/mo 0.3 miles

AutoZone Shops & Services

4,132 visits/mo 0.1 miles

Advance Auto Parts Shops & Services

2,274 visits/mo 0.1 miles

Demographics for 07416, NJ

5,615

Population

2,837

Households

2

Avg Household Size

46

Median Age

22%

College-Educated

93%

High-School Grad

12.2 sq mi

ZIP Area

460

Density / Sq Mi

$90,869

Median Household Income

$50,978

Median Earnings

$1,346

Median Rent

$263,600

Median Home Value

Market

Vacancy Rate% for Retail in Northeast region

6% 2019

7.1% 2020

6.5% 2021

6% 2022

5.7% 2023

5.6% 2024

6% 2025

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Frequently Asked Questions

What type of property is this?

Storefront property - HC-1 zoning and an existing long-term tenant are part of this commercial property.

Where is this storefront property located?

The property is located at 414 State Rt 23 #414 Franklin, NJ.

What is the asking price?

The asking price for this property is $675,000.

What are key features of this property?

This property features: 3,104‑square‑foot storefront property; HC‑1 zoning; Newer HVAC systems and roof