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Property profile & analytics
OFF-MARKET Estimated value $1,000,000
Commercial real estate

1188 Millstone Riv Rd Hillsborough, NJ 08844-4727

7,060 SF 3.36 ac lot Built 1949
Individually Owned 20-yr Hold Absentee Owner ~ Est. High Equity
Property ID
US59-3082212
Property summary
AI-generated overview

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.

Property profile
Verified
Property type Commercial real estate
Use group COMMERCIAL (GENERAL)
Year built 1949
Total area 7,060 SF
Lot 3.36 ac (146,362 SF)
Zoning code R
APN 10 00183- 01-00041
UPID US59-3082212
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
$1.03M
Blend (final) Blend
$1.00M
Owner & transaction history
Thomas Mazurkiewicz · 20 yrs held
Thomas Mazurkiewicz
since 2005
Last sale
$1.2M
1 recorded transaction
2005
$655,000
Zoning & alternative use
R · Hillsborough, NJ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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