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    115 Unit D 25-26 Mountain Lakes, NJ 07046
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    115 Unit D 25-26 Mountain Lakes, NJ 07046

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    • Mixed-use properties
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    Property Details for 115 Unit D 25-26

    Property type
    Mixed-use properties

    Description

    This exceptional 2,178 square foot mixed-use condo, located at 115 Route 46 Unit D 25-26 in Mountain Lakes, New Jersey, presents a unique investment opportunity. Currently configured as a fully furnished medical office, this ground floor unit is immediately available and boasts four exam rooms, a spacious waiting area, a dedicated conference room, a reception area, and a flexible-use room. The property is zoned OL-2, permitting a variety of uses including business, professional services, retail, wholesale, childcare, and medical practices. The building is a two-story structure. The sale price is $550,000 and the occupancy date is December 31, 2024. The unit's prime location along Route 46 ensures high visibility and accessibility. Potential buyers should note that the sale may include optional medical equipment, such as two ultrasound systems and a pack stem with monitors. This versatile space is perfect for established medical practices seeking a turnkey solution or for entrepreneurs looking to establish a new business in a thriving location. The property offers a blend of convenience, functionality, and significant potential for growth. The zip code is 07046.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Mountain Lakes
    County
    Morris
    State
    New Jersey
    Longitude
    -74.442
    Latitude
    40.8782

    Comparable in this City

    • Value Estimation
      $800,000
      3,960 SF

      91 Crane Rd

      COMMERCIAL (GENERAL) • 3,960 SF
      91 Crane Rd, Mountain Lakes, NJ 07046-1634
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    • Value Estimation by Request
      0.03 Acres

      115 Us Hwy 46

      COMMERCIAL (GENERAL) • 0.03 Acres
      115 Us Hwy 46, Mountain Lakes, NJ 07046-1668
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    • Value Estimation
      $1,190,000
      0.03 Acres

      115 Us Hwy 46

      COMMERCIAL (GENERAL) • 0.03 Acres
      115 Us Hwy 46, Mountain Lakes, NJ 07046-1668
      View Details
    • Value Estimation by Request
      1,452 SF

      336 Us Hwy 46

      COMMERCIAL (GENERAL) • 1,452 SF
      336 Us Hwy 46, Mountain Lakes, NJ 07046-1717
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    • Value Estimation by Request
      2,980 SF

      101 Us Hwy 46

      COMMERCIAL (GENERAL) • 2,980 SF
      101 Us Hwy 46, Mountain Lakes, NJ 07046-1645
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    • Value Estimation by Request
      1.89 Acres

      62 Us Hwy 46

      COMMERCIAL (GENERAL) • 1.89 Acres
      62 Us Hwy 46, Mountain Lakes, NJ 07046
      View Details

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    Similar Nearby for Lease

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    • $20 SF/Yr
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      2000 square feet of office space for rent.
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    115 Unit D 25-26
    Mountain Lakes, NJ 07046
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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.

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