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    723 Rt-57 Greenwich Township, NJ 08886

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    723 Rt-57 Greenwich Township, NJ 08886

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    • Retail properties & Spaces
    • 9.50 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail properties & Spaces

    Property Details for 723 Rt-57

    Lot size
    9.50 lot acres
    Property type
    Retail properties & Spaces
    Property subtype
    Land

    Description

    This exceptional 9.5-acre property in Greenwich Township, NJ, presents a rare investment opportunity. Strategically located on Route 57 in Stewartsville, NJ, this site boasts over 500 feet of road frontage and offers unparalleled access to major highways including Routes 78, 22, 519, and 31. The land is comprised of 4.5 acres zoned commercial and an additional 5 acres zoned agricultural, providing significant flexibility for development. Two existing buildings enhance the property's value. One building offers over 10,000 square feet of space, featuring convenient roll-up doors for easy access. The second building is a 5,000 square foot steel structure. The property's versatile zoning and prime location make it suitable for a wide range of commercial applications, presenting a unique chance to capitalize on its potential. The asking price is $1,600,000. The property's address is 723 RT-57, Greenwich Township, Warren County, NJ 08886. This is a truly remarkable opportunity to acquire a substantial piece of land with significant development potential in a highly desirable location.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Greenwich Township
    County
    Warren
    State
    New Jersey
    Longitude
    -75.1201
    Latitude
    40.7043

    Comparable in this City

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      28.79 Acres

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    • Value Estimation by Request
      0.52 Acres

      522 No Main St

      Commercial real estate • 0.52 Acres
      522 No Main St, Stewartsville, NJ 08886
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    • Value Estimation
      $1,090,000
      9,171 SF

      452-460 Rt 519

      COMMERCIAL (GENERAL) • 9,171 SF
      452-460 Rt 519, Stewartsville, NJ 08886
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    • Value Estimation by Request
      1,230 SF

      2430 State Rte 57

      COMMERCIAL (GENERAL) • 1,230 SF
      2430 State Rte 57, Stewartsville, NJ 08886
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    • Value Estimation by Request
      5,000 SF

      705 State Rte 57

      COMMERCIAL (GENERAL) • 5,000 SF
      705 State Rte 57, Stewartsville, NJ 08886-2100
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    • Value Estimation by Request
      4,680 SF

      857 State Rte 57

      COMMERCIAL (GENERAL) • 4,680 SF
      857 State Rte 57, Stewartsville, NJ 08886-2103
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      9.5 Acres Commercial Land Opportunity

      9.5 acres with commercial and agricultural zoning, two buildings.
      723 Rt-57, Greenwich Township, NJ 08886
      View Details
    • Contact for pricing

      Vacant Land Parcel For Sale

      5-acre vacant land parcel for recreational use or investment.
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    • $1,150,000
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      511 Rte 173, Stewartsville, NJ 08886
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    723 Rt-57
    Greenwich Township, NJ 08886
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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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