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    Belvidere Commercial Building Opportunity Title is generated by Realmo AI

    627 Third Street, Belvidere, NJ 07823

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    For Sale
    $179,900

    Commercial building in residential area, high visibility, parking lot.

    Type:Commercial/Industrial
    Lot size:
    0.12 Acres
    Added:
    Mar 12, 2026
    Days on Market:
    68
    Last Refresh:
    Apr 5 at 9:11 pm

    Property Features for 627 Third Street

    General Information

    Standard status
    Active
    Lot size
    0.12 Acres
    Property subtype
    Commercial/Industrial

    Building Details

    Year Built
    1950

    We can help!

    Listing Contact
    JASON FREEBY
    JASON FREEBY

    Listing agent JASON FREEBY License #0559779

    Listing office FREEBY LAI REAL ESTATE

    Listing date Mar 12, 2026

    Source Exitrealty

    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 FREEBY LAI REAL ESTATE

    HighLights

    • Prominent corner lot location on a main route with high visibility
    • Parking lot exclusive to the building
    • Large, open interior space that can be customized
    • Two separate commercial glass door entry ways
    • ADA compliant bathroom
    • Close proximity to major routes (46, 519, 78 & 80)

    Overview

    This commercial building is located in a residential area of Belvidere, a few blocks from the school and on a main route through town. Situated on the corner of Third Street and Oxford, the location offers high visibility from multiple directions. The property includes a parking lot and two separate commercial glass door entry ways. Inside is a large open area that can be reconfigured for various business uses. Storage and utility rooms are located off the main area, and a lobby and office space are accessible from both the interior and exterior. An ADA-compliant bathroom with handrail is situated at the end of the hall. The flooring throughout the building is a combination of laminate and tile. The space features a neutral color scheme and natural light. The building has a history as a commercial property, previously used as an automotive service station, deli/eatery, convenience store, bakery, and most recently as a karate/yoga studio. All uses will require town approval. The location is close to Route 46 and County Route 519, providing access to Routes 78 & 80.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Storefront properties

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Accounting Firm

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

    Similar Places Nearby

    • Fragrant Designs Florist — 322 Front St, Belvidere, NJ 07823

    Location Insight

    • Map
    • Local Demand
    City
    Belvidere
    County
    Warren
    State
    New Jersey
    Longitude
    -75.0722
    Latitude
    40.8264

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    FAQs

    What type of property is this?
    Storefront property - Commercial building in residential area, high visibility, parking lot.
    Where is this storefront property located?
    The property is located at 627 Third Street Belvidere, NJ.
    What is the asking price?
    The asking price for this property is $179,900.
    What are key features of this property?
    This property features: Prominent corner lot location on a main route with high visibility; Parking lot exclusive to the building; Large, open interior space that can be customized
    (888) 558-3898
    We can help!
    Listing Contact
    JASON FREEBY
    JASON FREEBY
    Real Estate License ID: 0559779
    Learn More
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    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
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