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Commercial Buildings on Corner Lot

451-453 State Route 33, Millstone, NJ 08535

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For Sale

$1,499,000

Two commercial buildings on a corner lot with C-50 zoning.

Type:General Commercial

Property size:

6,000 SF

Price / SF:

$249/SF

HighLights

Income‑producing investment property with two commercial buildings on one corner lot.
C‑50 zoning allows for retail, office, or possible medical use.
High traffic count and dynamite visibility at a signalized corner intersection.
Large parking lot with off‑street, open, and on‑site parking.
Located in a booming area with lots of new residential construction.
Central air conditioning and vinyl flooring.

We can help!

Listing Contact

Janine Del Tufo

Learn more

For Sale

$1,499,000

Two commercial buildings on a corner lot with C-50 zoning.

Type:General Commercial

Property size:

6,000 SF

Price / SF:

$249/SF

Added:: Mar 6, 2024
Days on Market:: 830
Last Refresh:: May 13 at 8:22 pm

Property Features for 451-453 State Route 33

General Information

Standard status: Active
Size: 6,000 SF
Property subtype: General Commercial

Building Details

Year Built: 1960

We can help!

Listing Contact

Janine Del Tufo

Listing agent Janine Del Tufo License #9807751

Listing office Keller Williams Realty Central Monmouth

Listing date Mar 6, 2024

Source Xome

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 Keller Williams Realty Central Monmouth

HighLights

Income‑producing investment property with two commercial buildings on one corner lot.
C‑50 zoning allows for retail, office, or possible medical use.
High traffic count and dynamite visibility at a signalized corner intersection.
Large parking lot with off‑street, open, and on‑site parking.
Located in a booming area with lots of new residential construction.
Central air conditioning and vinyl flooring.

Overview

This is an income-producing investment opportunity featuring two commercial buildings situated on a corner lot. The property is zoned C-50, allowing for highway commercial use, including retail, office, and possible medical applications. One building is currently leased as a retail store, while the other is available for a new tenant or owner-occupier. The property benefits from a large parking lot and its location at a signalized corner intersection, providing high traffic count and visibility. There are several spots available for signage to enhance business exposure. The surrounding area is experiencing growth, with new residential construction currently underway.

Local Financial Insights For Office B

Simulate Cap Rate and NOI

NOI Build-Up

Component	$	$/SF
Gross rent	$180.0k	$30.00
− Vacancy	−$57.6k	−$9.60
EGI	$122.4k	$20.40
− OpEx	−$30.6k	−$5.10
NOI	$91.8k	$15.30

6,000 SF · lease $30.00/SF/yr · vacancy 32.00% · expense 25.00%

Alternative Uses

Best Use

Office B

$1.31M

$1.15M – $1.53M (±1% cap)

NOI $91,800 @ 7.0% cap · market cap 6.12%

Second Best

Healthcare Medical

$1.28M

$1.12M – $1.49M (±1% cap)

NOI $89,338 @ 7.0% cap · market cap 5.96%

Theoretical Best

Office A

$1.57M

$1.37M – $1.83M (±1% cap)

NOI $109,670 @ 7.0% cap · market cap 7.32%

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

Location Intelligence

Current Use by Public Records

Retail space

Map

City: Millstone
County: Somerset
State: New Jersey
Longitude: -74.4365
Latitude: 40.2114

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For sale
Retail space
NJ
Millstone
08535
451-453 State Route 33

What type of property is this?

Retail space - Two commercial buildings on a corner lot with C-50 zoning.

Where is this retail space located?

The property is located at 451-453 State Route 33 Millstone, NJ.

What is the asking price?

The asking price for this property is $1,499,000.

What are key features of this property?

This property features: Income‑producing investment property with two commercial buildings on one corner lot.; C‑50 zoning allows for retail, office, or possible medical use.; **High traffic count and dynamite visibility at a signalized corner intersection.**