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    Property profile & analytics

    247 Nj-10 Roxbury Township, NJ 07876

    • Retail properties
    • 2,804 SF
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail properties

    Property Details for 247 Nj-10

    Property size
    2,804 SF
    Property type
    Retail properties
    Property subtype
    Drive through restaurants

    Description

    This exceptional freestanding retail and restaurant property, located at 247 Route 10 in Succasunna, New Jersey, offers a rare opportunity for a discerning tenant. The building boasts a generous 2,804 square feet of space, currently entirely vacant and ready for immediate occupancy. Its convenient location in Morris County, specifically Roxbury Township, ensures high visibility and accessibility for customers. The property sits on a sizable 0.69-acre lot, providing ample space for outdoor seating or additional development, if desired. Parking is abundant, with 51 spaces available to accommodate customers and staff. The building's classification as a restaurant with a drive-thru option presents a unique advantage for businesses seeking convenient customer service. The property is zoned for both retail and restaurant uses, offering flexibility for a variety of potential tenants. The address is 247 NJ-10, Succasunna, NJ 07876. This is a multi-tenant building, but the entire space is currently available for lease. This prime location in a bustling area presents a significant opportunity for growth and success. The property is ready for immediate occupancy, allowing for a swift and efficient start to operations. Don't miss this chance to secure a highly visible and well-situated commercial space in a thriving New Jersey market.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Roxbury Township
    County
    Morris
    State
    New Jersey
    Longitude
    -74.644
    Latitude
    40.8704

    Comparable in this City

    • Value Estimation by Request
      7,500 SF

      38 New Jersey 10

      Strip malls • 7,500 SF
      38 New Jersey 10, Roxbury Township, NJ 07876
      View Details
    • Value Estimation by Request
      2,200 SF

      15 Nj-10

      Retail properties • 2,200 SF
      15 Nj-10, Roxbury Township, NJ 07876
      View Details
    • Value Estimation
      $2,060,000
      3,420 SF

      2 Commerce Blvd

      FINANCIAL BUILDING • 3,420 SF
      2 Commerce Blvd, Succasunna, NJ 07876-1317
      View Details
    • Value Estimation
      $450,000
      1.11 Acres

      235 State Rte 10th E

      COMMERCIAL (GENERAL) • 1.11 Acres
      235 State Rte 10th E, Succasunna, NJ 07876
      View Details
    • Value Estimation
      $525,000
      10,752 SF

      33 State Rte 10th E

      COMMERCIAL (GENERAL) • 10,752 SF
      33 State Rte 10th E, Succasunna, NJ 07876-1723
      View Details
    • Value Estimation
      $440,000
      0.70 Acres

      52 Main St

      COMMERCIAL (GENERAL) • 0.70 Acres
      52 Main St, Succasunna, NJ 07876-1462
      View Details

    Similar Nearby for Sale

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      Commercial Land For Sale

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    Similar Nearby for Lease

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      Eyland Plaza Retail Space For Lease

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      Commercial Building for Rent

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    247 Nj-10
    Roxbury Township, NJ 07876
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    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
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