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    246 Nj-31 Washington, NJ 07882

    For Sale
    $490,000

    Warren County NJ Retail Opportunity

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    365
    This exceptional 12-acre commercial land parcel, located at 246 NJ Route 31 South in Washington, Warren County, NJ 07882, presents a unique investment opportunity. Situated at the strategic intersection of Springtown Road and Route 31 (Block 65, Lot 1.01), this property boasts a highly desirable Business Commercial zoning designation, making it suitable for a wide range of retail uses. Potential development options include, but are not limited to, banks, medical/urgent care facilities, fast-food restaurants, daycare centers, and convenience stores. The property's size and location offer significant potential for high visibility and accessibility. While some wetlands are present, the majority of the land is readily developable. An existing pylon sign on the property generates monthly income via a month-to-month lease, offering immediate return potential. The asking price for this exceptional property is $490,000. A ground lease or build-to-suit arrangement may be negotiable. The current lease on the pylon sign expires May 1, 2025, representing a remaining lease term of approximately 0.4 years. This property is being offered for sale by owner. Serious inquiries only.

    Property Features for 246 Nj-31

    General Information

    Property type
    Land
    Lot Size
    522,720 SF

    HighLights

    • 12‑acre commercial land parcel in Washington, NJ, at the intersection of Springtown Road and Route 31.
    • Business Commercial zoning allows for various retail uses including banks, medical facilities, and restaurants.
    • High visibility and accessibility due to location and size; mostly developable land with some wetlands.
    • Generating monthly income from an existing pylon sign with a lease expiring May 1, 2025.
    • Asking price: $490,000; ground lease or build‑to‑suit options possible.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Map

    City
    Washington
    County
    Warren
    State
    New Jersey
    Longitude
    -74.977618
    Latitude
    40.747096

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    FAQs

    What type of property is this?
    Land - Warren County NJ Retail Opportunity
    Where is this land located?
    The property is located at 246 Nj-31 Washington, NJ.
    What is the asking price?
    The asking price for this property is $490,000.
    What are key features of this property?
    This property features: 12-acre commercial land parcel in Washington, NJ, at the intersection of Springtown Road and Route 31.; Business Commercial zoning allows for various retail uses including banks, medical facilities, and restaurants.; High visibility and accessibility due to location and size; mostly developable land with some wetlands.
    Request Owner's contact information
    246 Nj-31 Washington, NJ 07882
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    246 Nj-31
    Washington, NJ 07882
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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
    246 Nj-31 Washington, NJ 07882
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