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    424 3Rd St Millville, NJ 08332

    Sponsored
    For Sale
    $60,000

    7,500 SF Downtown Commercial Lot

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional 7,500 square foot commercial land parcel, located at the corner of North 3rd Street (CR-555) and East Oak Street in Millville, New Jersey (zip code 08332), presents a unique investment opportunity. Comprising three parcels (Block 360, Lots 1, 3, and 4), this property is situated within the newly rezoned "Downtown Commercial" district, offering versatile development potential. The permitted zoning allows for a wide range of uses, including live/work units, offices, retail spaces, restaurants, artist studios, galleries, and parking lots. The site allows for a building of up to four stories, with a potential buildable area of approximately 20,000 square feet. Benefiting from its location within both the Urban Enterprise Zone and the Neighborhood Revitalization Tax Credit Zone, this property is poised to capitalize on the area's rapid redevelopment and strong sales and rental markets. All utilities (electric, gas, cable, water, and sewer) are conveniently located at the sidewalk. The property enjoys excellent walkability to the Arts District, shopping, dining, services, entertainment, parks, and a boating ramp. Furthermore, it's a short four-minute drive to a regional mall and highway access (NJ-55), providing easy access to Philadelphia (40 minutes) and the New Jersey beaches (40 minutes). Prospective buyers are advised to confirm all specifications for their intended use with the Millville City Zoning Department. The asking price for this prime commercial land is $60,000.

    Property Features for 424 3Rd St

    General Information

    Property type
    Land

    HighLights

    • 7,500 SF commercial land parcel in Millville, NJ (08332), located at the corner of North 3rd Street (CR‑555) and East Oak Street.
    • Three parcels (Block 360, Lots 1, 3, & 4) in the newly rezoned Downtown Commercial district.
    • Allows for up to a 20,000 SF, four‑story building with diverse permitted uses including live/work, retail, restaurants, and more.
    • Located in both the Urban Enterprise Zone and Neighborhood Revitalization Tax Credit Zone.
    • Utilities at the sidewalk; excellent walkability to amenities and a short drive to NJ‑55, a regional mall, Philadelphia, and the Jersey Shore.
    • Asking price: $60,000.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Millville
    County
    Cumberland
    State
    New Jersey
    Longitude
    -75.035853556534
    Latitude
    39.400300135297

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    FAQs

    What type of property is this?
    Land - 7,500 SF Downtown Commercial Lot
    Where is this land located?
    The property is located at 424 3Rd St Millville, NJ.
    What is the asking price?
    The asking price for this property is $60,000.
    What are key features of this property?
    This property features: 7,500 SF commercial land parcel in Millville, NJ (08332), located at the corner of North 3rd Street (CR-555) and East Oak Street.; Three parcels (Block 360, Lots 1, 3, & 4) in the newly rezoned Downtown Commercial district.; Allows for up to a 20,000 SF, four-story building with diverse permitted uses including live/work, retail, restaurants, and more.
    (856) 825-5500
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    424 3Rd St Millville, NJ 08332
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    Millville, NJ 08332
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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
    424 3Rd St Millville, NJ 08332
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