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    272 Nj-23 Franklin, NJ 07416

    Sponsored
    For Sale
    $2,050,000

    0.68-acre redevelopment opportunity.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional 0.68-acre commercial land parcel, located at 272 Route 23 in Franklin, New Jersey (zip code 07416), presents a unique redevelopment opportunity. Situated in Sussex County, this property boasts a convenient location with excellent visibility along Route 23. The asking price is $2,050,000. The site offers ample space for a variety of commercial ventures. Eleven parking spaces are currently available. Importantly, the property has undergone environmental remediation, with the removal of above-ground fuel tanks completed on December 2nd, 2021. This addresses a significant potential hurdle for future development, saving considerable time and expense for the buyer. The site's zoning and permitted uses should be independently verified by prospective purchasers. With a total buildable area of 30,006 square feet, this property offers significant potential for substantial return on investment. This is a rare chance to acquire a well-positioned commercial lot in a thriving New Jersey market. Serious inquiries are encouraged to explore the possibilities this prime location offers. The latitude and longitude coordinates are 41.1183747 and -74.580183 respectively.

    Property Features for 272 Nj-23

    General Information

    Property type
    Land
    Lot Size
    29,621 SF

    HighLights

    • No Further Action Required (NFA) from environmental agencies.
    • Underground gas tanks removed December 2, 2021.
    • 30,006 square feet of available space.
    Property Profile Location Intelligence

    Current Use by Public Records

    Isalis Gift Shop Party City Party Store Skunk Funk Wholesaler Carl's Trading Co Hat Shop Bushka's Kitchen LLC Outdoor Clothing And Equipment Shop

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Auto Repair Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Franklin
    County
    Sussex
    State
    New Jersey
    Longitude
    -74.580183
    Latitude
    41.1183747

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    FAQs

    What type of property is this?
    Land - 0.68-acre redevelopment opportunity.
    Where is this land located?
    The property is located at 272 Nj-23 Franklin, NJ.
    What is the asking price?
    The asking price for this property is $2,050,000.
    What are key features of this property?
    This property features: No Further Action Required (NFA) from environmental agencies.; Underground gas tanks removed December 2, 2021.; 30,006 square feet of available space.
    (908) 668-9600
    Request Owner's contact information
    272 Nj-23 Franklin, NJ 07416
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    Franklin, NJ 07416
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    Realmo Value Estimation

    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.

    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.

    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
    272 Nj-23 Franklin, NJ 07416
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