Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    834 Rte Hillsborough Township, NJ 08844

    Property Lookup

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

    834 Rte Hillsborough Township, NJ 08844

    View on Map
    • Retail properties & Spaces
    • 1.98 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail properties & Spaces

    Property Details for 834 Rte

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

    Description

    This exceptional 1.9-acre commercial property, located at 834 Route 206 in Hillsborough Township, New Jersey (zip code 08844), presents a unique investment opportunity. Priced at $799,000, this flat, rectangular parcel boasts approximately 228 feet of frontage on State Highway #206, experiencing an estimated 36,000 vehicles daily. The existing 1,300 square foot building is in average condition and can be renovated or demolished to suit the buyer's needs. The property is zoned Broad Highway Commercial, permitting most commercial uses. All utilities are conveniently located on-site. A Letter of Interpretation from the New Jersey Department of Environmental Protection is available, confirming the absence of wetlands and providing short-term feasibility. Site plans and surveys are readily accessible. This corner lot benefits from a nearby traffic light and is ideally situated less than 1/8 of a mile from the new Somerville-Hillsborough-Montgomery By-Pass. The property's strategic location is further enhanced by its proximity to a major 77,000 square foot shopping center (1.1 miles away) and neighboring businesses including Moe's Southwest Grill, a diner, and multiple gas stations. The seller, established for 54 years, offers this property for the first time. This is a rare chance to acquire a high-visibility retail site in a thriving New Jersey market.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Hillsborough Township
    County
    Somerset
    State
    New Jersey
    Longitude
    -74.6545
    Latitude
    40.4818

    Comparable in this City

    • Value Estimation by Request
      1.00 Acre

      315 Us-206

      Land • 1.00 Acre
      315 Us-206, Hillsborough Township, NJ 08844
      View Details
    • Value Estimation by Request
      328,306 SF

      315 Rte

      Lifestyle centers • 328,306 SF
      315 Rte, Hillsborough Township, NJ 08844
      View Details
    • Value Estimation by Request
      13,650 SF

      403 Rte

      Retail properties & Spaces • 13,650 SF
      403 Rte, Hillsborough Township, NJ 08844
      View Details
    • Value Estimation by Request
      1,280 SF

      243000

      Medical Office Space • 1,280 SF
      0 243000, Hillsborough Township, NJ 08844
      View Details
    • Value Estimation by Request
      4.83 Acres

      230 Dukes Pkwy

      Land • 4.83 Acres
      230 Dukes Pkwy, Hillsborough Township, NJ 08844
      View Details
    • Value Estimation by Request
      4.30 Acres

      739 Us-206

      Land • 4.30 Acres
      739 Us-206, Hillsborough Township, NJ 08844
      View Details

    Similar Nearby for Sale

    • $2,500,000
      3.29 Acres

      Hillsborough Twp. Commercial Land

      3.29 acre lot in prime location on 206.
      351 Doctors Way, Hillsborough, NJ 08844
      View Details
    • Contact for pricing

      Hillsborough 34-Acre Land Parcel

      Rare 34-acre parcel in Hillsborough's cherished rural countryside.
      111 Wertsville Rd, Hillsborough, NJ 08844
      View Details
    • Contact for pricing

      Hillsborough Township Pad Site

      Pad site available for ground lease in Hillsborough Township.
      315 Us Highway 206, Hillsborough, NJ 08844
      View Details
    • $350,000

      Prime Industrial Building Lot For Sale

      Industrial lot with excellent access to major road networks.
      73 Weston Rd, Hillsborough, NJ 08844
      View Details
    • $215,000
      1,150 SF

      Retail Property in High Traffic

      Retail property for sale in a high-traffic area.
      603 Omni Dr, Hillsborough, NJ 08844
      View Details
    • $350,000

      Prime Industrial Building Lot

      Building lot in industrial corridor with excellent road access.
      73 Weston Rd, Hillsborough, NJ 08844
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Retail Space with Drive-Thru Potential

      Retail space with drive-thru or redevelopment opportunity available for lease.
      425 Us Highway 206, Hillsborough, NJ 08844
      View Details
    • Contact for pricing

      Kohl's Pad Site Ground Lease

      Commercial land available for ground lease at Kohl's pad.
      315 Us Highway 206, Hillsborough, NJ 08844
      View Details
    • Contact for pricing

      Mixed-Use Community in Hillsborough, NJ

      New mixed-use community with retail, office, and luxury apartments.
      650 Us Highway 206, Hillsborough, NJ 08844
      View Details
    • Contact for pricing

      Second Floor Office Unit Available

      1,200 SF office unit in mixed-use building for rent.
      856 Us Highway 206, Hillsborough, NJ 08844
      View Details
    • Contact for pricing
      34,000 SF

      Hillsborough Retail Space Available

      34,000 SF retail space for lease in Hillsborough, NJ.
      111 Raider Blvd, Hillsborough, NJ 08844
      View Details
    • $19 SF/Yr
      25,000 SF

      Prime Hillsborough Office Space

      25,000 SF Office Building, Spaces Available
      856 Us-206, Hillsborough Township, NJ 08844
      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.
    834 Rte
    Hillsborough Township, NJ 08844
    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!