Technical
Financial
Distress signals
Property profile

272 Nj-23 Franklin, NJ 07416

OFF-MARKET
Land
0.68 ac lot
Saved · see the list in your Dashboard

Property summary

AI-generated overview

This exceptional 0.68-acre commercial land parcel, located at 272 Route 23 in Franklin, New Jersey (zip code 07416), presents a unique redevelopment opportunity. Situated in Sussex County, this property boasts a convenient location with excellent visibility along Route 23. The asking price is $2,050,000. The site offers ample space for a variety of commercial ventures. Eleven parking spaces are currently available. Importantly, the property has undergone environmental remediation, with the removal of above-ground fuel tanks completed on December 2nd, 2021. This addresses a significant potential hurdle for future development, saving considerable time and expense for the buyer. The site's zoning and permitted uses should be independently verified by prospective purchasers. With a total buildable area of 30,006 square feet, this property offers significant potential for substantial return on investment. This is a rare chance to acquire a well-positioned commercial lot in a thriving New Jersey market. Serious inquiries are encouraged to explore the possibilities this prime location offers. The latitude and longitude coordinates are 41.1183747 and -74.580183 respectively.

Property profile

Verified
Property type Land
Lot 0.68 ac (29,621 SF)

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Location

272 Nj-23 Franklin, NJ 07416
Franklin metro
Google Maps

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
by Request

Owner & transaction history

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 272 Nj-23?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
More about this property
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