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    451-453 State Rte 33 Millstone, NJ 08535
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    451-453 State Rte 33 Millstone, NJ 08535

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    • Commercial real estate
    • 6,000 SF
    • 2.00 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Commercial real estate

    Property Details for 451-453 State Rte 33

    Year built
    1960
    Lot size
    2.00 lot acres
    Property size
    6,000 SF
    Property type
    Commercial real estate

    Description

    This exceptional investment opportunity presents two commercial buildings situated on a prime 2-acre corner lot in Millstone, NJ. The property boasts a total of 6,000 square feet and benefits from a C-50 zoning designation, allowing for a variety of uses. One building is currently leased as a retail store, generating immediate income. The second building is available for immediate occupancy, providing flexibility for an owner-occupier or a new tenant. The property features ample parking, ideal for both tenants and customers. Its location at a signalized intersection ensures high visibility and significant daily traffic counts, making it an excellent location for signage and attracting customers. The property's strategic placement offers exceptional exposure to the substantial amount of new residential construction currently underway in the booming Millstone area. This presents a unique chance to capitalize on the growth and increased demand for commercial services in this thriving community. The property's versatility allows for a range of commercial uses, including retail, office space, and potentially medical facilities. This is a rare opportunity to acquire a well-positioned, income-generating commercial property with significant upside potential. The asking price is $1,499,000.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Millstone
    County
    Monmouth
    State
    New Jersey
    Longitude
    -74.3964
    Latitude
    40.258

    Comparable in this City

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      839 Perrineville Rd

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    • Value Estimation
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      480 State Rte 33

      COMMERCIAL (GENERAL) • 11,340 SF
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    • Value Estimation
      $2,675,000
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      514 State Rte 33

      COMMERCIAL (GENERAL) • 15,095 SF
      514 State Rte 33, Millstone Township, NJ 08535-9427
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    • Value Estimation by Request
      1,260 SF

      State Hwy 33rd 2nd Conover

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    • Value Estimation
      $1,490,000
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      200 Meco Dr, Unit 250

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    • Value Estimation
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      21,000 SF

      600 Rike Dr

      COMMERCIAL (GENERAL) • 21,000 SF
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    Similar Nearby for Sale

    • Contact for pricing
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    • $16,000,000

      Prime Industrial Land Opportunity

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      Vacant Land Near Route 33

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      Industrial Opportunity in Millstone, NJ

      Potential Class A Industrial Park in Central New Jersey.
      491 State Route 33, Millstone, NJ 08535
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    • $1,000,000
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      Newer Commercial Building in Millstone

      2,700 SF flexible commercial space for sale.
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    • $1,499,000
      6,000 SF

      Commercial Buildings on Corner Lot

      Two commercial buildings on a corner lot with C-50 zoning.
      451-453 State Route 33, Millstone, NJ 08535
      View Details

    Similar Nearby for Lease

    • $3,450 /Mo

      Commercial Corner in Millstone Township

      Two-story building with high visibility in a growing area.
      453 State Route 33, Millstone Township, NJ 08535
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      14,400 SF

      Professional Office Space Available

      Professional office spaces for lease in Millstone, New Jersey.
      490 State Route 33, Millstone, NJ 08535
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    • Contact for pricing
      87,120 SF

      Commercial Land on Route 33

      2-acre lot on Route 33, Millstone, suitable for trucking.
      663 Rte 33, Millstone, NJ 08535
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    • $28 SF/Yr

      Highway 33 Retail/Office/Warehouse Space

      Retail, office, and warehouse spaces available on heavily traveled Highway 33.
      514 State Route 33, Millstone, NJ 08535
      View Details
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    Millstone, NJ 08535
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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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