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    100-150 Meco Dr Millstone, NJ 08535

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    100-150 Meco Dr Millstone, NJ 08535

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    • Commercial land
    For Sale
    $995,000
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    Vacant Land Near Route 33 For Sale
    $995,000
    2.98 Acres

    Vacant Land Near Route 33

    2.98 AC vacant land, Business Park zoning, close to Route 33.

    100-150 Meco Dr, Millstone, NJ 8535
    View Listing
    Property ID
    US59-1593142
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Commercial land

    Property Details for 100-150 Meco Dr

    Property type
    Commercial land
    Property subtype
    Commercial real estate

    Description

    Address: 100-150 Meco Drive, Millstone, NJ 08535 Total Lot Size: +/- 2.98 AC of Vacant Land Asking Price: $995,000 ($333,893 / AC) – PRICE JUST REDUCED 2024 RE Taxes: $4, 995.97 • Business Park (BP) Zoning: Permitted uses include but not limited to storage warehouse and distribution centers, fabrication, manufacturing, processing of assembly of goods and materials, scientific and research laboratories, corporate offices and business centers for professional use, child-care centers, etc. • Close proximity to Route 33 and I-95. Property is on Septic & Well. • The site has approximately 170 ft. of frontage and a depth of approximately 423 feet. The site also has 380 ft. of frontage on Prodelin Way.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Millstone
    County
    Somerset
    State
    New Jersey
    Longitude
    -74.4365
    Latitude
    40.2114

    Comparable in this City

    • $16,000,000

      Prime Industrial Land Opportunity

      Industrial land for sale in central New Jersey, Route 33.
      491 State Route 33, Millstone Township, NJ 08535
      View Details
    • Contact for pricing
      6.50 Acres

      Millstone Commercial Land & Building

      Highway Frontage, Ample Parking, Move-In Ready
      Conover Rd, Millstone, NJ 08535
      View Details
    • $16,000,000
      2,000 SF

      Industrial Opportunity in Millstone, NJ

      Potential Class A Industrial Park in Central New Jersey.
      491 State Route 33, Millstone, NJ 08535
      View Details
    • $1,000,000
      Pending

      Newer Commercial Building in Millstone

      2,700 SF flexible commercial space for sale.
      910 Perrineville Rd, Perrineville, NJ 08535
      View Details
    • $1,499,000
      6,000 SF

      Commercial Buildings on Corner Lot

      Two commercial buildings on a corner lot with C-50 zoning.
      451-453 State Route 33, Millstone, NJ 08535
      View Details

    Similar Nearby for Sale

    • $16,000,000

      Prime Industrial Land Opportunity

      Industrial land for sale in central New Jersey, Route 33.
      491 State Route 33, Millstone Township, NJ 08535
      View Details
    • Contact for pricing
      6.50 Acres

      Millstone Commercial Land & Building

      Highway Frontage, Ample Parking, Move-In Ready
      Conover Rd, Millstone, NJ 08535
      View Details
    • $16,000,000
      2,000 SF

      Industrial Opportunity in Millstone, NJ

      Potential Class A Industrial Park in Central New Jersey.
      491 State Route 33, Millstone, NJ 08535
      View Details
    • $1,000,000
      Pending

      Newer Commercial Building in Millstone

      2,700 SF flexible commercial space for sale.
      910 Perrineville Rd, Perrineville, NJ 08535
      View Details
    • $1,499,000
      6,000 SF

      Commercial Buildings on Corner Lot

      Two commercial buildings on a corner lot with C-50 zoning.
      451-453 State Route 33, Millstone, NJ 08535
      View Details

    Similar Nearby for Lease

    • New
      Contact for pricing
      87,120 SF

      Commercial Land on Route 33

      2-acre lot on Route 33, Millstone, suitable for trucking.
      663 Rte 33, Millstone, NJ 08535
      View Details
    • $3,450 /Mo

      Commercial Corner in Millstone Township

      Two-story building with high visibility in a growing area.
      453 State Route 33, Millstone Township, NJ 08535
      View Details
    • Contact for pricing
      14,400 SF

      Professional Office Space Available

      Professional office spaces for lease in Millstone, New Jersey.
      490 State Route 33, Millstone, NJ 08535
      View Details
    • $28 SF/Yr

      Highway 33 Retail/Office/Warehouse Space

      Retail, office, and warehouse spaces available on heavily traveled Highway 33.
      514 State Route 33, Millstone, NJ 08535
      View Details
    View Listing
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    Millstone, NJ 08535
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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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    100-150 Meco Dr, Millstone, NJ, 08535

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