Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    102 State Rte 15 Lafayette, NJ 07848-2407

    • Commercial real estate
    • 4,888 SF
    • 0.19 lot acres
    OFF-MARKET
    Last Sale
    Jan 19, 2023
    $970,000
    Value Estimations
    $875,000
    Show details
    Cap Rate Potential
    5.8%
    Commercial real estate
    Location Intelligence
    Property ID
    US59-0812746
    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.

    Current Use by Public Records

    • Commercial real estate

    Property Details for 102 State Rte 15

    Year built
    1850
    Construction
    FRAME
    Lot size
    0.19 lot acres
    Property size
    4,888 SF
    Zone code
    B-1
    Property type
    Commercial real estate
    APN
    13 00015-0000-00033- 02
    APU
    130001500000003302

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $835,000
      ML approach
      $865,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $805,000
      6.5%
      $745,000
      7%
      $690,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Lafayette
    County
    Sussex
    State
    New Jersey
    Longitude
    -74.689
    Latitude
    41.0985
    CBSA code
    35620
    CBSA name
    NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $11,758
    $109,600
    $302,400
    $412,000
    -
    $109,600
    $302,400
    $412,000

    Comparable in this City

    • Value Estimation by Request
      13.42 Acres

      13 State Rte 94

      COMMERCIAL (GENERAL) • 13.42 Acres
      13 State Rte 94, Lafayette, NJ 07848-4609
      View Details
    • Value Estimation
      $4,505,000
      59,919 SF

      37 Sunset Inn Rd

      COMMERCIAL (GENERAL) • 59,919 SF
      37 Sunset Inn Rd, Lafayette, NJ 07848-2214
      View Details
    • Value Estimation by Request
      2,176 SF

      55 57th Rt 15

      COMMERCIAL (GENERAL) • 2,176 SF
      55 57th Rt 15, Lafayette, NJ 07848
      View Details
    • Value Estimation by Request
      3,792 SF

      18 Prices Ln

      COMMERCIAL (GENERAL) • 3,792 SF
      18 Prices Ln, Lafayette, NJ 07848-2206
      View Details
    • Value Estimation
      $2,795,000
      23,776 SF

      88 Lawrence Rd

      COMMERCIAL (GENERAL) • 23,776 SF
      88 Lawrence Rd, Lafayette, NJ 07848-3035
      View Details
    • Value Estimation
      $1,255,000
      10,200 SF

      11 Millpond Dr

      COMMERCIAL (GENERAL) • 10,200 SF
      11 Millpond Dr, Lafayette, NJ 07848-3826
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      1.13 Acres

      Prime Lafayette Commercial Garage

      Spacious Garage, Highway Access, Perfect for Contractors
      168 Rt15, Lafayette, NJ 07848
      View Details
    • Contact for pricing
      1,500 SF

      Highway Commercial Barn - Lafayette, NJ

      Spacious Barn, High Traffic Location, Great Rental Potential
      113 Rt15, Lafayette, NJ 07848
      View Details
    • Contact for pricing
      75.00 Acres

      Andover NJ Industrial Land

      85 Acres, Rail Served, Build-to-Suit
      1111 Limecrest Rd, Lafayette, NJ 07848
      View Details
    • $1,900,000
      21.43 Acres

      Unique Land on Heavily Traveled Route

      Land with highway commercial and residential zoning on Route 15.
      216 Rt15, Lafayette, NJ 07848
      View Details
    • $2,500,000
      9.94 Acres

      Land Parcel in Economic Zone

      Strategically located land parcel suitable for commercial or industrial development.
      309 Houses Corner Rd, Lafayette, NJ 07848
      View Details
    • Contact for pricing
      250,000 SF

      Prime NJ Industrial Land Opportunity

      85 Acres, 600,000 SF Potential
      1045 Limecrest Rd, Lafayette, NJ 07848
      View Details

    Similar Nearby for Lease

    • $800 /Mo
      1,500 SF

      Lafayette Twp. Commercial Barn Rental

      Approximately 1500 sqft barn with two floors for rent.
      113 Rt15, Lafayette, NJ 07848
      View Details
    • $5,500 /Mo

      Lafayette Outdoor Storage Lot

      Expansive, gated outdoor lot with lighting and security cameras.
      18 State Route 94, Lafayette, NJ 07848
      View Details
    • $5,500 /Mo

      Lafayette Outdoor Storage Lot

      Gated, level outdoor lot suitable for various storage needs.
      18 So, Lafayette, NJ 07848
      View Details
    • $1,425 /Mo
      49,223 SF

      Oversized Garage with Dock

      Commercial garage with heat, electric, dock, and full bathroom.
      168 Rt15, Lafayette, NJ 07848
      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.
    102 State Rte 15
    Lafayette, NJ 07848-2407
    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.