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

    81 Route 31 N Pennington, NJ 08534

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $1,999,000

    Full-service car wash with high traffic and expansion potential.

    Lot size:
    2.62 Acres

    Property Features for 81 Route 31 N

    General Information

    Standard status
    Active
    Lot size
    2.62 Acres

    Building Details

    Year built
    9999

    We can help!

    Listing Contact
    Joseph B Bograd
    Joseph B Bograd
    Source: Corcoran

    Listing Agency: LPT REALTY, LLC Listing Agent: Joseph B Bograd

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Established Car Wash on Main Road

    This established full-service car wash is situated on a large, highly visible lot with easy access from a main roadway. The location benefits from strong exposure and consistent traffic flow, with approximately 24,000 vehicles passing by daily. The business currently services an average of 130 vehicles per day, demonstrating steady operational demand. The expansive lot includes 17 on-site parking spaces and offers ample room for potential expansion, allowing a new owner to explore additional services, upgraded equipment, or increased capacity. The building includes an office, restroom, waiting room and a large equipment room, providing the infrastructure necessary for a fully functioning car wash business. This property represents an excellent investment opportunity in a high-demand business. It offers the location, scale, and flexibility to take it to the next level.
    Location Intelligence

    Current Use by Public Records

    Car washes

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Pennington
    County
    Mercer
    State
    New Jersey
    Longitude
    -74.795847
    Latitude
    40.316706

    Nearby Similar for Sale

    • $1,685,000
      6,236 SF

      Historic Mixed-Use Building Pennington, NJ

      Historic mixed-use building in downtown Pennington with investment appeal.
      24 N Main St, Pennington, NJ 08534
      View Details
    • Contact for pricing
      6,236 SF

      Main Street Retail/Office Opportunity

      Handicap accessible retail/office space in Pennington's center.
      24 N Main St, Pennington, NJ 08534
      View Details
    • $1,685,000
      3,268 SF

      Historic Pennington Mixed-Use Building

      Well-maintained, historic mixed-use building in downtown Pennington.
      24 N Main St, Pennington, NJ 08534
      View Details
    • $1,685,000

      Historic Mixed-Use Building in Pennington

      Well-maintained mixed-use building with retail/office space and leased upper floors.
      24 N Main St, Pennington, NJ 08534
      View Details
    • $799,000

      Stand-Alone Medical Office Building

      Freestanding building with medical office layout and ample parking.
      132 Route 31, Pennington, NJ 08534
      View Details
    • $1,198,500

      Turn-Key Restaurant with Income Potential

      Fully operational restaurant and music studio in Pennington Borough.
      12 S Main St, Pennington, NJ 08534
      View Details
    • $975,000
      3,509 SF

      Mixed-Use Property with Bank Lease

      Mixed-use property featuring a bank lease and residential apartments.
      228 W Delaware Ave, Pennington, NJ 08534
      View Details
    • $1,850,000
      6,236 SF

      Pennington Mixed-Use Gem

      Historic building, prime location, high ROI.
      24 Main St, Pennington, NJ 08534
      View Details
    • Contact for pricing
      14,000 SF

      Industrial Property in Pennington, NJ

      14,000 SF industrial property available for sale.
      1607 Reed Rd, Pennington, NJ 08534
      View Details
    • Contact for pricing
      16,000 SF

      Industrial Property on 7.10 Acres

      16,000 SF industrial building on a 7.10 acre lot.
      1600 Reed Rd, Pennington, NJ 08534
      View Details
    • Contact for pricing
      4.83 Acres

      Pennington Office Space - Route 31

      Class A Office, High Visibility, 4.83 Acres
      10 Route 31, Pennington, NJ 08534
      View Details
    • Contact for pricing

      Cornerstone Court Retail Opportunity

      Retail property for sale at Cornerstone Court.
      1 Tree Farm Rd, Pennington, NJ 08534
      View Details

    FAQs

    What type of property is this?
    Car wash - Full-service car wash with high traffic and expansion potential.
    Where is this car wash located?
    The property is located at 81 Route 31 N Pennington, NJ.
    What is the asking price?
    The asking price for this property is $1,999,000.
    What are key features of this property?
    This property features: - High-traffic location: approximately 24,000 vehicles passing daily.; - Established business servicing an average of 130 vehicles per day.; - Large lot with 17 on-site parking spaces and ample room for expansion.
    (267) 246-9729
    Request Owner's contact information
    81 Route 31 N Pennington, NJ 08534
    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.
    81 Route 31 N
    Pennington, NJ 08534
    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
    81 Route 31 N Pennington, NJ 08534
    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

    We can help!
    Listing Contact
    Joseph B Bograd
    Joseph B Bograd
    Real Estate License ID: AB066484
    Learn More
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!