11 Hopewell Ave Flemington, NJ 08822-1118
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Mechanical Precision Inc Industrial Manufacturer Factory
TRANSITION RESIDENTIAL (TR) DISTRICT. [ Ord. No. 2012-01 ] A. Purpose. The purpose of the Transition Residential (TR) District is to provide for a medium density residential district of single family detached and two-family dwellings located between primarily commercial districts and single family zones. Certain governmental and institutional uses would also…
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendProperty tax & assessments
Tax year 2022Comparables
6 recent transactions · within 1.5 miComparable in this City
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Property description
Physical attributes from public recordsZoning & alternative use
TR · Flemington, NJTRANSITION RESIDENTIAL (TR) DISTRICT. [ Ord. No. 2012-01 ] A. Purpose. The purpose of the Transition Residential (TR) District is to provide for a medium density residential district of single family detached and two-family dwellings located between primarily commercial districts and single family zones. Certain governmental and institutional uses would also be permitted. B. Permitted Principal Uses. In the Transition Residential Zone, no lot shall be used and no structure shall be erected, altered or occupied for any purpose except the following: 1. Single family detached dwelling. 2. Two-family dwelling. 3. Place of Worship. 4. ECHO Housing. a. The ECHO Housing unit shall be located behind the rear of the principal residence, but shall not be located in the side or rear setbacks. The Zoning Officer may require a landscaped buffer of evergreen trees and shrubs to minimize visual impact on neighboring properties. b. The ECHO unit shall be separated from the principal dwelling a minimum of 5 feet. c. Each ECHO housing unit shall comply with the minimum unit size requirements for Neighborhood Preservation Balanced Housing Program (N.J.A.C. 5:43-1.1 et seq.) as follows: (1) Efficiency - 500 sq. ft. (2) 1 bedroom - 600 sq. ft. (3) 2 bedroom - 750 sq. ft. d. No ECHO housing unit shall exceed 900 square feet in area. e. The exterior of ECHO housing units shall be covered with a material and color that compliments the facade of the primary residence on the property. f. The unit shall be removed from the premises within 6 months of the end of the term of occupancy of the approved applicant and the lot restored to its status prior to the installation of the unit. The Zoning Officer may extend the time period for removal up to an additional 3 months upon adequate documentation of marketing efforts to see the unit during the initial 6 month period. 5. Municipal use, including parks and recreation. 6. Community gardening. C. Accessory Uses Permitted. Any of the following uses may be permitted when used in conjunction with a permitted principal use: 1. Single family detached and two-family dwellings: a. Private garage. b. Private swimming pool and other outdoor recreation. c. Storage shed. d. Home occupation. e. Deck, gazebo and cabana. 2. Place of Worship: a. Rectory or parish house. b. Maintenance shed or garage. c. Child care center. d. Social hall primarily for the use of members. 3. Signs, § 2631 . 4. Off-street parking. 5. Solar facilities. [ Ord. No. 2012-01 ] 6. Shelters and fenced enclosures for the keeping of animals. [ Ord. No. 2012-01 ] 7.
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.