Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Retail Space in Highlands Village Title is generated by Realmo AI

    578 Allen Road, Basking Ridge, NJ 07920

    View on Map
    Claim this Listing
    For Lease
    Contact for pricing

    Retail space in master-planned community with easy highway access.

    Type:Retail
    Added:
    Jun 17, 2020
    Days on Market:
    2176
    Last Refresh:
    May 20 at 8:17 pm

    Property Features for 578 Allen Road

    General Information

    Standard status
    Active
    Property subtype
    Retail

    Spaces For Lease

    at 578 Allen Road Contact us

    We can help!

    Listing Contact
    Sara Soliman

    Listing agent Sara Soliman License #NJ 2299753

    Listing office Kislak Commercial Real Estate Services, Inc

    Listing date Jun 17, 2020

    Source Crexi

    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 Kislak Commercial Real Estate Services, Inc

    HighLights

    • Located in "The Hills", a large master‑planned community with 4,728 homes on 1,800 acres.
    • Convenient access to I‑78 (Exit 33), I‑287 (Exit 22), and Routes 202‑206.
    • Proximity to Liberty Corner Road (approximately 1 mile).
    • Located in Highlands Village Center.
    • Situated in both Bernards Township (Basking Ridge) and Bedminster.
    • Located in Somerset County.

    Overview

    This retail space is situated in Highlands Village Center, located within "The Hills," a master-planned community encompassing both Bernards Township (Basking Ridge) and Bedminster in Somerset County. "The Hills" includes 4,728 homes situated on 1,800 acres of land. The property is located less than 2 miles from Exit 33 off I-78 and approximately 1 mile from Liberty Corner Road; Exit 22 off I-287 (Pluckemin-Bedminster), providing easy access to Route 202-206.
    Location Intelligence

    Current Use by Public Records

    Three Bridges Veterinary ... Veterinary Clinic

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Building Supply Gym & Fitness Center Pharmacy Big Box & Wholesale Store Accounting Firm

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

    Location Insight

    • Map
    • Local Demand
    City
    Basking Ridge
    County
    Somerset
    State
    New Jersey
    Longitude
    -74.620529
    Latitude
    40.6564172

    Nearby Similar for Lease

    • Sponsored
      Contact for pricing

      Mt. Airy Interchange

      233 Mt. Airy Rd, Unit 1ST, Basking Ridge, NJ 07920
      View Details
    • $2,750/Mo
      750 SF

      Basking Ridge Retail/Office Space

      750 SF retail or office space in Basking Ridge.
      108 S Finley Ave, Bernards Twp., NJ 07920
      View Details
    • $26 SF/Yr
      3,142 SF

      Retail Space in Basking Ridge

      Retail space available in a busy shopping center.
      Allen Rd, Basking Ridge, NJ
      View Details
    • Contact for pricing
      16,206 SF

      Modern Medical Building Office Space

      Prime medical space in Somerset County, Basking Ridge location.
      150 North Finley Avenue, Basking Ridge, NJ 07920
      View Details
    • Contact for pricing
      60,806 SF

      Retail Space in Highlands Village

      Retail space for lease in master-planned community.
      552 Allen Road, Basking Ridge, NJ 07920
      View Details
    • $14 SF/Yr
      1,793 SF

      Basking Ridge Office Space Available

      Office space available for lease in Basking Ridge, NJ.
      25 Mountainview Blvd, Basking Ridge, NJ
      View Details
    • $20 SF/Yr
      2,182 SF

      Upscale Retail Space For Lease

      Upscale village square shopping center with retail and office space.
      403 King George Rd, Basking Ridge, NJ
      View Details
    • Contact for pricing
      75,000 SF

      Basking Ridge Office Space Available

      Office space for rent in Basking Ridge, New Jersey.
      Basking Ridge, NJ 07920
      View Details
    • Contact for pricing
      18,000 SF

      Basking Ridge Office Space Available

      18,000 SF office space for rent in Basking Ridge.
      150 Mt Airy Rd, Basking Ridge, NJ
      View Details
    • Contact for pricing
      57,857 SF

      Prestigious Basking Ridge Office Building

      Trophy office building with full-service cafeteria and fitness center.
      477 Martinsville Rd, Basking Ridge, NJ
      View Details
    • $1,995/Mo

      Office Space with Private Offices

      Office space featuring private offices, kitchen, and private lavatory.
      21 Church St, Bernards Twp., NJ 07920
      View Details
    • Contact for pricing
      2,268 SF

      Retail Space in Basking Ridge

      Retail space available in a wealthy Basking Ridge neighborhood.
      19 Stonehouse Rd, Basking Ridge, NJ
      View Details

    FAQs

    What type of property is this?
    Retail space - Retail space in master-planned community with easy highway access.
    Where is this retail space located?
    The property is located at 578 Allen Road Basking Ridge, NJ.
    What is the lease rate?
    The lease rate is $26 SF/Yr.
    What are key features of this property?
    This property features: Located in "The Hills", a large master‑planned community with 4,728 homes on 1,800 acres.; Convenient access to I‑78 (Exit 33), I‑287 (Exit 22), and Routes 202‑206.; Proximity to Liberty Corner Road (approximately 1 mile).
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Sara Soliman
    Real Estate License ID: NJ 2299753
    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
    578 Allen Road, Basking Ridge, NJ 07920
    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!