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    & Rt. 206 Bellemead Griggstown Rd Montgomery, NJ 08502
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    & Rt. 206 Bellemead Griggstown Rd, Montgomery, NJ 08502

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    • Lifestyle centers
    • 102,000 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Lifestyle centers

    Property Details for & Rt. 206 Bellemead Griggstown Rd

    Property type
    Lifestyle centers
    Property subtype
    Power centers

    Description

    Montgomery Place, located at the intersection of Belle Mead Griggstown Road and Route 206 in Montgomery, New Jersey (zip code 08502), presents a significant retail and restaurant opportunity. This 102,000 square foot shopping center offers a variety of spaces, perfect for multiple tenants. The property boasts 12 suites in total, with a minimum divisible space of 1,637 square feet and a maximum contiguous space of 17,859 square feet. Currently, there is 58,705 square feet of vacant space available, providing ample opportunity for expansion or new businesses. The center is conveniently situated in Somerset County and offers extensive parking with 547 spaces for customer convenience. The property is classified as both retail and restaurant space, making it ideal for a diverse range of businesses. This prime location offers excellent visibility and accessibility, making it an attractive option for businesses seeking a strong presence in a thriving community. The property's size and layout provide flexibility for various business needs, from smaller boutiques to larger anchor tenants. Interested parties are encouraged to inquire about available spaces and lease terms. This is a unique opportunity to establish or expand your business in a high-traffic area with significant potential for growth.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Montgomery
    County
    Somerset
    State
    New Jersey
    Longitude
    -74.6582
    Latitude
    40.4592

    Comparable in this City

    • Value Estimation by Request
      3,245 SF

      2139 Us-206

      Multifamily properties
      2139 Us-206, Montgomery, NJ 08502
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    • Value Estimation by Request
      0.33 Acres

      2457 Us Hwy 206

      COMMERCIAL (GENERAL)
      2457 Us Hwy 206, Belle Mead, NJ 08502-4018
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    • Value Estimation by Request
      35.10 Acres

      484 County Rd 601

      INDUSTRIAL (GENERAL)
      484 County Rd 601, Belle Mead, NJ 08502-5101
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    • Value Estimation
      $935,000
      1.29 Acres

      2152 Us Hwy 206

      COMMERCIAL (GENERAL)
      2152 Us Hwy 206, Belle Mead, NJ 08502-4008
      View Details
    • Value Estimation
      $3,605,000
      1.63 Acres

      2176 Us Hwy 206

      COMMERCIAL (GENERAL)
      2176 Us Hwy 206, Belle Mead, NJ 08502-4008
      View Details
    • Value Estimation by Request
      0.53 Acres

      2462 Us Hwy 206

      COMMERCIAL (GENERAL)
      2462 Us Hwy 206, Belle Mead, NJ 08502
      View Details

    Similar Nearby for Sale

    • $99,999

      Land in Growing Montgomery Township

      Land for sale in Montgomery Township, zoned LM.
      163 Trent Pl, Belle Mead, NJ 08502
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    • $99,999

      Land in Growing Montgomery Township

      Land available in Montgomery Township, zoned LM.
      163 Trent Pl, Belle Mead, NJ 08502
      View Details
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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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    & Rt. 206 Bellemead Griggstown Rd, Montgomery, NJ, 08502
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