Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Sold
    • Property Lookup
    • Brokers
    178 Rte Sussex, NJ 07461

    Property Lookup

    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    178 Rte Sussex, NJ 07461

    View on Map
    • Commercial real estate
    • 1.43 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Commercial real estate

    Property Details for 178 Rte

    Year built
    1857
    Lot size
    1.43 lot acres
    Property type
    Commercial real estate

    Description

    This exceptional property located at 178 Route 628, Sussex, NJ, presents a fantastic opportunity for those seeking versatile storage or workshop space. The property encompasses a generous 1.43 acres of land, providing ample room for maneuvering and potential future expansion. The main structure is a single-bay garage, ideal for a variety of uses. The garage boasts impressive dimensions, measuring 25 feet in length and 10 feet in width, with an 8-foot high clearance. These dimensions allow for comfortable storage of vehicles, equipment, or materials. The high ceilings further enhance the usability of the space, providing ample headroom for taller items. The property's location in Sussex, NJ offers convenient access to local amenities and transportation routes. The 1.43-acre lot provides significant potential for future development or expansion, depending on zoning regulations and local ordinances. This single-bay garage presents a unique opportunity for both personal and commercial use, offering a practical and well-situated space at an attractive price point of $195,000. The property is being sold as-is. Serious inquiries only. Buyers are responsible for conducting their own due diligence regarding zoning and permitted uses.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Sussex
    County
    Sussex
    State
    New Jersey
    Longitude
    -74.6595
    Latitude
    41.2168

    Comparable in this City

    • Value Estimation by Request
      95.76 Acres

      55 County Rd 639

      COMMERCIAL (GENERAL) • 95.76 Acres
      55 County Rd 639, Sussex, NJ 07461-3117
      View Details
    • Value Estimation by Request
      0.92 Acres

      Judge Bch Rd

      COMMERCIAL (GENERAL) • 0.92 Acres
      Judge Bch Rd, Sussex, NJ 07461
      View Details
    • Value Estimation by Request

      380-390 Rt 284

      COMMERCIAL (GENERAL)
      380-390 Rt 284, Sussex, NJ 07461
      View Details
    • Value Estimation by Request

      89 Gemmer Rd

      COMMERCIAL (GENERAL)
      89 Gemmer Rd, Sussex, NJ 07461-3717
      View Details
    • Value Estimation by Request
      1,880 SF

      154 State Rt 23

      COMMERCIAL (GENERAL) • 1,880 SF
      154 State Rt 23, Sussex, NJ 07461-2602
      View Details
    • Value Estimation by Request
      2.20 Acres

      380 State Rt 23

      COMMERCIAL (GENERAL) • 2.20 Acres
      380 State Rt 23, Sussex, NJ 07461-3114
      View Details

    Similar Nearby for Sale

    • $550,000
      8,635 SF

      High-Visibility Route 23 Commercial Property

      Sussex, NJ: Prime Commercial Space, 8,635 sq ft
      766 Rte 23, Sussex, NJ 07461
      View Details
    • Contact for pricing
      0.05 Acres

      Downtown Sussex Commercial Space

      High-visibility retail office, great rental!
      75 Main St, Sussex, NJ 07461
      View Details
    • $899,000
      6,090 SF

      Sussex Warehouse: Prime CBD Location

      Spacious warehouse, new roof, near ShopRite.
      30-38 Mill St, Sussex, NJ 07461
      View Details
    • Contact for pricing

      Vacant Lot in Scenic Setting

      Vacant lot for custom home with outdoor recreation nearby.
      16 Glen Dr, Sussex, NJ 07461
      View Details

    Similar Nearby for Lease

    • $600 /Mo

      Sussex Borough Parking Lot Rental

      Privately owned parking lot with approximately 30 spaces for rent.
      11 Harrison St, Sussex, NJ 07461
      View Details
    • $1,250 /Mo

      Downtown Sussex Retail/Office Space

      Retail or office space available in downtown Sussex.
      75 Main St, Sussex, NJ 07461
      View Details
    • $1,295 /Mo

      Office Space For Rent

      Office suites available in a clean, highway-adjacent location.
      2 Hamburg Ave, Sussex, NJ 07461
      View Details
    • Contact for pricing

      Commercial Space for Lease

      Commercial space available for lease in Sussex, New Jersey.
      1 Wiebel Plz, Sussex, NJ 07461
      View Details
    • $795 /Mo

      Retail Space with Private Parking

      Retail space featuring new flooring, private parking, and bathroom.
      91 Main St, Sussex, NJ 07461
      View Details
    • Contact for pricing

      Remodeled Commercial Space with Deck

      Highly visible, remodeled commercial space with open floor plan.
      20 Newton Ave, Sussex, NJ 07461
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    178 Rte
    Sussex, NJ 07461
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    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
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!