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    59 Reading Rd Flemington, NJ 08822

    Sponsored
    For Sale
    $1,550,000

    8,000 SF Retail Center, 7% Cap Rate

    Property size:
    8,000 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional Class A, 8,000-square-foot shopping center in Flemington, New Jersey, presents a compelling investment opportunity. Located at 59 Reading Rd, this single-story, five-unit property boasts a 7.00% cap rate and a pro-forma cap rate of 18.00%. Built in 1991, the center sits on a 1.36-acre lot zoned R-5 Commercial, offering ample parking and excellent visibility. Currently at 30% occupancy, the property includes a dental practice leasing two suites. Each of the five spacious units features its own bathroom and utilities, providing flexibility for a variety of tenants. The contiguous units can be combined to accommodate larger users. Ideal for owner-users or investors seeking a diverse tenant mix, this property is well-suited for professional offices, retail, recreational, or medical uses. The asking price is $1,550,000, translating to $187.50 per square foot. The existing lease is a NNN lease with a 5-year term. This prime location in Hunterdon County, NJ (zip code 08822) offers significant potential for increased occupancy and revenue. Don't miss this chance to acquire a well-positioned retail property with strong upside potential.

    Property Features for 59 Reading Rd

    General Information

    Property type
    Lifestyle centers
    Square Feet
    8,000 SF
    Class
    A
    Lot Size
    59,242 SF

    Building Details

    Year Built
    1991
    Buildings
    1
    Stories
    1
    Units
    5

    HighLights

    • Class A, 8,000 sq ft shopping center in Flemington, NJ.
    • Located at 59 Reading Rd on a 1.36‑acre lot, zoned R‑5 Commercial.
    • Five‑unit, single‑story building with 7.00% cap rate and 18.00% pro‑forma cap rate.
    • Currently 30% occupied; includes a dental practice leasing two suites.
    • Asking price: $1,550,000 ($187.50/sq ft); NNN lease with 5‑year term.
    Property Profile Location Intelligence

    Current Use by Public Records

    Pincofski Orthodontics Orthodontist Susan Pincofski Orthodontist Pincofski Paul DDS Prosthodontist

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Flemington
    County
    Hunterdon
    State
    New Jersey
    Longitude
    -74.844757175898
    Latitude
    40.49676838909

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    FAQs

    What type of property is this?
    Lifestyle center - 8,000 SF Retail Center, 7% Cap Rate
    Where is this lifestyle center located?
    The property is located at 59 Reading Rd Flemington, NJ.
    What is the asking price?
    The asking price for this property is $1,550,000.
    What are key features of this property?
    This property features: Class A, 8,000 sq ft shopping center in Flemington, NJ.; Located at 59 Reading Rd on a 1.36-acre lot, zoned R-5 Commercial.; Five-unit, single-story building with 7.00% cap rate and 18.00% pro-forma cap rate.
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    Flemington, NJ 08822
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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
    59 Reading Rd Flemington, NJ 08822
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