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    Property profile & analytics

    171 Route46 Ledgewood, NJ 07803

    • Commercial real estate
    • 0.47 lot acres
    For Sale
    View listing
    $1,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Commercial real estate

    Property Details for 171 Route46

    Lot size
    0.47 lot acres
    Property type
    Commercial real estate

    Description

    This exceptional commercial property, located at 171 Route 46, Unit 2, in Ledgewood, NJ, presents a fantastic opportunity for entrepreneurs. Situated on a 0.47-acre lot, this storefront boasts unparalleled visibility due to its prime highway location on Route 46. The property is described as a "must see" and offers significant potential for business owners seeking high traffic exposure. The unit is specifically identified as Unit 2, located on the left side of the building. An adjacent store is also available, presenting the unique possibility of combining units to expand business operations. The asking price is $1,000. While the square footage is not specified, the property's prominent location and the potential for expansion make it an attractive investment for a variety of commercial ventures. The high visibility ensures significant foot and vehicle traffic, providing ideal conditions for a thriving business. This is a rare opportunity to establish a presence in a desirable and highly accessible location. Serious inquiries are encouraged to explore this promising commercial space.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Ledgewood
    County
    Morris
    State
    New Jersey
    Longitude
    -74.6944
    Latitude
    40.8951

    Comparable in this City

    • Value Estimation by Request
      0.32 Acres

      408 Rt 46

      COMMERCIAL (GENERAL) • 0.32 Acres
      408 Rt 46, Mine Hill, NJ 07803
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    • Value Estimation by Request
      1,096 SF

      224 Rt 46

      COMMERCIAL (GENERAL) • 1,096 SF
      224 Rt 46, Mine Hill, NJ 07803
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    • Value Estimation by Request
      1,209 SF

      355 Rte 46

      COMMERCIAL (GENERAL) • 1,209 SF
      355 Rte 46, Mine Hill, NJ 07803
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    • Value Estimation by Request
      0.46 Acres

      235 Rte 46

      COMMERCIAL (GENERAL) • 0.46 Acres
      235 Rte 46, Mine Hill, NJ 07803
      View Details
    • Value Estimation by Request
      1.48 Acres

      271 Rte 46

      COMMERCIAL (GENERAL) • 1.48 Acres
      271 Rte 46, Mine Hill, NJ 07803
      View Details
    • Value Estimation
      $670,000
      1,719 SF

      217 Rt 46

      COMMERCIAL (GENERAL) • 1,719 SF
      217 Rt 46, Mine Hill, NJ 07803
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      0.47 Acres

      Route 46 Ledgewood Commercial Space

      High-visibility storefront, highway location. Great potential!
      171 Route46, Ledgewood, NJ 07803
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    • Contact for pricing
      0.47 Acres

      Route 46 Ledgewood Commercial Space

      High-visibility storefront, excellent location.
      171 Route46, Ledgewood, NJ 07803
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    • $200,000
      1.00 Acre

      Land For Sale, Mine Hill

      One acre of land available in Mine Hill Township, NJ.
      42 5Th Ave, Mine Hill, NJ 07803
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    • $200,000

      Approved Building Lot Available

      Building lot for a dream home, close to highways.
      5Th Ave, Mine Hill, NJ 07803
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    • $159,000
      1.31 Acres

      Undeveloped Land in Mine Hill

      1.31 acre lot for custom home in Mine Hill.
      Mine Hill, NJ 07803
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    • $199,900

      Land For Sale, Mine Hill

      Land available in Mine Hill Twp., Morris County, New Jersey.
      42 5Th Ave, Mine Hill, NJ 07803
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    Similar Nearby for Lease

    • $1,400 /Mo
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      Renovated Retail Space on Route

      Newly renovated retail space in prime location on Route 46.
      173 Rt46, Mine Hill, NJ 07803
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      393,335 SF

      LEED Certified Distribution Facility

      Class-A distribution facility in Northern NJ, divisible from 100,000 SF.
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      Renovated Duplex Apartment For Rent

      Recently renovated 3-bedroom, 2-bathroom duplex apartment in prime location.
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    • $1,050 /Mo
      20,473 SF

      Route 46 Storefront Available

      Storefront on Route 46 with great visibility in Mine Hill.
      171 Route46, Mine Hill, NJ 07803
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    • Contact for pricing

      Medical Office Space Available

      Second-floor medical office space with waiting room, exam rooms, and more.
      195 Rt46, Mine Hill, NJ 07803
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      7,753 SF

      Mine Hill Industrial Space Available

      Column-free industrial unit in Mine Hill, New Jersey.
      102 Iron Mountain Rd, Mine Hill, NJ 07803
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    171 Route46
    Ledgewood, NJ 07803
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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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