Current Use by Public Records
- Office Spaces
Property Details for 3107 Us-22
- Year built
- 1956
- Lot size
- 0.70 lot acres
- Property type
- Office Spaces
- Property subtype
- Mixed-use properties
Description
This exceptional mixed-use property, located at 3107-3111 Route 22 in Branchburg, New Jersey, presents a compelling investment opportunity. The 2,500 square foot property consists of two separate, contiguous houses situated on a 0.7-acre lot, offering a unique blend of residential and commercial potential. Currently configured as a two-unit multifamily property (one 4-bedroom, two-bath unit and one 2-bedroom unit), the property boasts a strong pro-forma NOI of $69,700 and an 8.20% pro-forma cap rate. Built in 1956 and renovated in 2020, the property features eight parking spaces and public water and gas, with sewer availability. The I-1 (Light Industrial) zoning allows for continued residential use, as well as office, light industry, manufacturing, and fabrication. One unit is currently leased, while the other, a 4-bedroom unit, is vacant and undergoing renovations. Rent bumps are possible, enhancing future income potential. This fee-simple ownership offers significant upside for investors and owner-users alike, providing flexibility for diverse business and residential applications. The property's location on Route 22 ensures high visibility and convenient access. This is an ideal opportunity for those seeking a high-return investment with significant potential for growth and diversification.
Value Estimations
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Branchburg
- County
- Somerset
- State
- New Jersey
- Longitude
- -74.6857
- Latitude
- 40.6001
