Vernon Commercial Property For
For Sale
$292,000
542 County Route 515, Vernon, NJ 07462
Commercial property in Vernon's Town Center Zone, suitable for various uses.
Property Size600 SF
Price / SF$486.67
Days on Market251
Property Features for 542 County Route 515
General Information
Standard status
Active
Size
600 SF
Zoning
TC
Taxes and HOA fees
Annual Taxes
$4,318
Amenities
Central Air
Crawl Space
Off Street
Building Details
Building Size
600 SF
Year Built
1950
Listing Agency:
BHHS Gross & Jansen
Listed By:
KEVIN COLMAN
(973) 903-6842
Source:
Evrealestate
Added: Feb 4
Changed: Oct 6
Last Checked: Oct 12 at 6:36PM
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 Gross & Jansen
Investment Insights
Based on property information with market context.
Located in the rapidly expanding Town Center Zone of Vernon, this property offers significant exposure to local and visitor traffic. The 600-square-foot building has been recently renovated for office space. It is also suitable for conversion to retail sales or a food concept. The owner is open to considering lease options depending on the term and property use. Proposed building expansion engineering approvals are attached.
Key Highlights
- Central location with maximum exposure to local and visitor traffic.
- Located in Vernon's rapidly expanding Town Center Zone.
- Recently renovated for office space.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$9,180
Cap Rate
3.14%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$183,600
$183.6K
Cap Rate 7%
$131,143
$131.1K
Cap Rate 9%
$102,000
$102.0K
Market Conditions
NOI Build-Up for 600 SF
Gross rent
$18.0K $30.00/SF
− Vacancy
−$5.8K −$9.60/SF
EGI
$12.2K $20.40/SF
− OpEx
−$3.1K −$5.10/SF
NOI
$9.2K $15.30/SF
Area
Sussex County, NJ
Vacancy
32.00%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$183,600
Cap Rate 7%
$131,143
Cap Rate 9%
$102,000
Alternative Uses
Best Use
Office B
$131.1K
$114.8K – $153.0K
NOI $9,180 @ 7.0% cap · market cap 3.14%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$156.7K
$137.1K – $182.8K
NOI $10,967 @ 7.0% cap · market cap 3.76%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
173
Businesses Nearby
Explore this area
Business Placement
Demographics for 07462, NJ
6,670
Population
3,589
Households
1.9
Avg Household Size
43
Median Age
29%
College-Educated
97%
High-School Grad
17.0 sq mi
ZIP Area
392
Density / Sq Mi
$99,125
Median Household Income
$57,154
Median Earnings
$1,614
Median Rent
$252,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office units - Commercial property in Vernon's Town Center Zone, suitable for various uses.
Where is this office units located?
The property is located at 542 County Route 515 Vernon, NJ.
What is the asking price?
The asking price for this property is $292,000.
What are key features of this property?
This property features: Central location with maximum exposure to local and visitor traffic.; Located in Vernon's rapidly expanding Town Center Zone.; Recently renovated for office space.
