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

    425 US Highway 206 Hillsborough, NJ 08844

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Former bank building or redevelopment site in high-traffic retail corridor.

    Type:RETAIL
    Property size:
    4,330 SF
    Lot size:
    3.22 Acres
    Added:
    Oct 2, 2025
    Days on Market:
    210
    Last Refresh:
    Apr 5 at 10:39 pm

    Property Features for 425 US Highway 206

    General Information

    Standard status
    Active
    Size
    4,330 SF
    Lot size
    3.22 Acres
    Property subtype
    RETAIL

    Spaces For Lease

    at 425 US Highway 206 Contact us

    We can help!

    Listing Contact
    Gregg Medvin
    Gregg Medvin

    Listing agent Gregg Medvin

    Listing office Pierson Commercial Real Estate

    Listing date Oct 2, 2025

    Source Moodyscre

    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 Pierson Commercial Real Estate

    Overview

    Hillsborough Retail Corridor Redevelopment Opportunity

    This property presents a leasing opportunity for a former bank building with a drive-thru, or a 3.2-acre redevelopment opportunity situated in the heart of the Hillsborough retail corridor along Route 206. The location benefits from its position on Route 206, a primary thoroughfare within Somerset County, characterized by substantial vehicular traffic and a mix of established national, regional, and local retailers. The surrounding area is densely populated, drawing from various neighboring towns, with an estimated residential population of 81,000 and median incomes around $154,000 within a 3-mile radius. The property offers high visibility and prominent pylon signage, along with convenient access.
    Location Intelligence

    Current Use by Public Records

    Banks

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Hillsborough
    County
    Somerset
    State
    New Jersey
    Longitude
    -74.6433
    Latitude
    40.5048

    Nearby Similar for Lease

    • $750/Mo

      Boutique Professional Office Space

      860 SF office condo in Hillsborough Twp., NJ for rent.
      491 Amwell Rd, Hillsborough Twp., NJ 08844-3407
      View Details
    • $2,999/Mo

      Hillsborough Twp. Commercial Space For Rent

      Versatile commercial space suitable for retail, office, or restaurant use.
      340 S Branch Rd. Suite 400, Hillsborough Twp., NJ 08844-3431
      View Details
    • $2,000/Mo

      Hillsborough Twp. Commercial Office Space

      Professional office space available for rent in Hillsborough Twp., NJ.
      349 Us Highway 206 Ste G, Hillsborough Twp., NJ 08844-4667
      View Details
    • $2,002/Mo

      Modern Shopping Center Space Available

      Retail space for lease in well-maintained shopping center.
      220 Triangle Rd, Hillsborough Twp., NJ 08844
      View Details
    • $1,000/Mo

      Hillsborough Office Space Available

      863 sq ft office space for small teams.
      349 Us Highway 206 Ste D, Hillsborough Twp., NJ 08844-4667
      View Details
    • $3,000/Mo

      Mixed-Use Building with Highway Frontage

      Mixed-use building with highway frontage, suitable for retail or office.
      718 Us Highway 206, Hillsborough Twp., NJ 08844
      View Details
    • $10,885/Mo

      Hillsborough Industrial Building For Rent

      Industrial property in Hillsborough Township with 10,885 SF available.
      300 Sunnymeade Rd, Hillsborough Township, NJ 08844
      View Details
    • $3,200/Mo

      Commercial Space for Rent

      Commercial space available for rent in Hillsborough Township, New Jersey.
      281 Triangle Rd, Hillsborough Twp., NJ 08844
      View Details
    • $4,500/Mo

      Renovated Commercial Space on Route 206

      Versatile, renovated commercial space suitable for various businesses.
      170 Township Line Rd, Hillsborough Twp., NJ 08844
      View Details
    • $7,100/Mo

      Hillsborough Office Building For Lease

      Office building for lease in Hillsborough, New Jersey.
      408 Us Highway 206, Hillsborough Twp., NJ 08844
      View Details
    • $3,400/Mo

      Versatile 2200 SF Office Space

      2200 SF office space with multiple rooms, available 2025.
      856 Us Highway 206, Hillsborough Twp., NJ 08844
      View Details
    • $1,200/Mo

      Well-Maintained Office Space Available

      550 SF office space with utilities included for rent.
      485 Amwell Rd, Hillsborough Twp., NJ 08844
      View Details

    FAQs

    What type of property is this?
    Bank - Former bank building or redevelopment site in high-traffic retail corridor.
    Where is this bank located?
    The property is located at 425 US Highway 206 Hillsborough, NJ.
    What are key features of this property?
    This property features: Prime location in the heart of the Hillsborough retail corridor along Route 206.; High vehicular traffic on Route 206, the main thoroughfare in Somerset County.; Strong demographics: approximately 81,000 residential population and $154,000 median income within 3 miles.
    (732) 707-6900 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Gregg Medvin
    Gregg Medvin
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!