1188 Millstone Riv Rd Hillsborough, NJ 08844-4727
This unique investment property in Hillsborough, NJ, presents a rare opportunity to acquire a mixed-use building encompassing a recently renovated two-bedroom apartment situated above a long-established flower shop. The property also includes a sizable greenhouse, adding to its versatility and potential income streams. The flower shop has a pre-existing, non-conforming use, providing a significant advantage in a high-traffic residential area. The 3.36-acre lot offers ample parking, enhancing the convenience for both the flower shop's customers and the apartment's residents. The lease agreement covers the flower shop, the apartment, and the greenhouse, providing a comprehensive income stream from multiple sources. This presents a compelling investment opportunity for those seeking a diversified portfolio with established tenants and significant potential for future growth. The property's location in a high-traffic residential area ensures consistent visibility and accessibility. The combination of a residential component and a well-established commercial business makes this a truly unique and attractive investment. The recent renovations to the apartment enhance its appeal and rental value. The large greenhouse offers additional possibilities for expansion or diversification of the existing business. This property is being offered at $5,000. Serious inquiries only.
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendProperty tax & assessments
Tax year 2023Comparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Property description
Physical attributes from public recordsZoning & alternative use
R · Hillsborough, NJHillsborough. Always verify with local authorities before improvements.
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.