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

    1101 Randolph Rd Franklin Township, NJ 08873

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Prime Franklin Township retail space available.

    Lot size:
    21,000 SF

    Property Features for 1101 Randolph Rd

    General Information

    Property type
    Lifestyle centers
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    21,000 SF

    Spaces For Lease

    at 1101 Randolph Rd, Franklin Township, NJ 08873 Contact us

    We can help!

    Listing Contact
    Shane Wierks
    Shane Wierks

    Listing Agent: Shane Wierks

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

    Learn more

    Property Insight Report

    Overview

    The Shops at Summerfields, located at 1101 Randolph Rd in Somerset, NJ (zip code 08873), presents a compelling retail investment opportunity in Franklin Township, Somerset County. This established shopping center offers a total of 21,000 square feet of retail and restaurant space, currently featuring multiple tenants. There are 3,500 square feet of immediately available space, divisible into units ranging from a minimum of 1,400 square feet to a maximum contiguous space of 2,100 square feet. This makes it ideal for a variety of businesses seeking flexible space options. The property boasts ample parking with 166 spaces available for customers and employees, ensuring convenient access for patrons. The center's strategic location in Franklin Township, New Jersey provides excellent visibility and accessibility, making it an attractive destination for shoppers. This is a chance to establish or expand your business in a thriving retail environment with a strong existing tenant base. The property is conveniently located at 40.5304102, -74.5567181. Serious inquiries are encouraged.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Lifestyle centers

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Grocery & Convenience Store Gym & Fitness Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Franklin Township
    County
    Somerset
    State
    New Jersey
    Longitude
    -74.5567181
    Latitude
    40.5304102

    Nearby Similar for Lease

    • New
      $2,000 /Mo
      32,670 SF

      Voorhees Retail/Office Space For Lease

      Newly constructed retail/office space in Voorhees, NJ.
      341 S Burnt Mill Rd, Voorhees, NJ 08043
      View Details
    • $1,250 /Mo
      12,632 SF

      Voorhees Office Space For Lease

      Second floor office space in Voorhees, NJ, near PATCO.
      175 White Horse Rd W, Voorhees, NJ 08043
      View Details
    • $4,500 /Mo
      17,860 SF

      Voorhees Office Space For Lease

      Professional office building with ample space and convenient parking.
      102 Burnt Mill Rd, Voorhees, NJ 08043
      View Details
    • Sponsored
      Contact for pricing

      NJ, Somerset - Atrium Dr

      Discover many ways to work your way in Fort Washington
      300 Atrium Dr, Somerset, NJ 08873
      View Details
    • Sponsored
      Contact for pricing

      NJ, Voorhees - White Horse Rd

      Discover many ways to work your way in Ayrsley
      1099 White Horse Rd, Voorhees, NJ 08043
      View Details
    • $18 SF/Yr
      41,374 SF

      Modern Office Units Near I-287

      Modern, fully built-out office units with highway exposure available for lease.
      347 Elizabeth Ave, Somerset, NJ 08873
      View Details
    • $18 SF/Yr
      5,000 SF

      Professional Office Space Available

      Office space suitable for various professional uses, ample parking.
      347 Elizabeth Ave, Somerset, NJ
      View Details
    • Contact for pricing

      Medical Office Space For Lease

      Medical office space available for lease.
      100 Carnie Blvd, Voorhees, NJ 08043
      View Details
    • $9 SF/Yr

      Voorhees Office Property For Lease

      Professional office property available for lease in Voorhees, New Jersey.
      401 White Horse Rd, Voorhees, NJ 08043
      View Details
    • $13 SF/Yr
      57,920 SF

      Industrial Space with Flexible Lease

      Centrally located industrial space with short term lease options.
      25 Commerce Dr, Franklin Township, NJ 08873
      View Details
    • $14 SF/Yr

      Elevatored Building Office/Retail Space

      Second floor office/retail space in prime location.
      2 Jfk Blvd, Somerset, NJ 08873
      View Details

    FAQs

    What type of property is this?
    Lifestyle center - Prime Franklin Township retail space available.
    Where is this lifestyle center located?
    The property is located at 1101 Randolph Rd Franklin Township, NJ.
    What are key features of this property?
    This property features: High-traffic corner location with signalized intersection.; Excellent access to major roadways, I-287 and Route 206.; Ample parking and highly visible storefronts with pylon signage opportunity.
    (908) 668-9600 Call to check price and availability
    Request Owner's contact information
    1101 Randolph Rd Franklin Township, NJ 08873
    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.
    1101 Randolph Rd
    Franklin Township, NJ 08873
    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
    1101 Randolph Rd Franklin Township, NJ 08873
    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!
    Contact for Pricing
    Please call us for current price
    and status of this listing Shane Wierks
    Shane Wierks
    Real Estate License ID: 0786772
    (908) 668-9600 (908) 581-7781 (301) 632-6320
    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!