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Property profile & analytics
OFF-MARKET Estimated value $860,000
Banks

15 Main St Milltown, NJ 08850-1518

3,770 SF 0.87 ac lot Built 1957
Entity Owned 1-yr Hold Free & Clear
Property ID
US59-0933006
Property summary
AI-generated overview

This exceptional commercial property, located at 15 N Main St in Milltown, New Jersey (zip code 08850), presents a unique investment opportunity. The freestanding building, formerly a bank, offers approximately 3,354 square feet of space on the main level, plus an additional approximately 3,426 square feet in the basement, totaling approximately 6,780 square feet. Situated on a 0.87-acre lot, the property boasts ample parking with approximately 40 spaces, ensuring convenient access for customers and employees. The building features prominent signage on all four sides, along with a freestanding monument sign, providing excellent visibility and brand exposure. The property is being sold "As Is" and is vacant, free and clear of any existing tenancies. Note that the deed will include a two-year restriction against use by any financial institution. However, a variety of uses are permitted, including medical businesses, personal service establishments, professional offices, restaurants (excluding drive-thru, carry-out, or fast food), retail businesses, and single-family detached homes. The property offers full ingress and egress from Main Street, providing easy access for both customers and staff. The asking price for this prime commercial property is $750,000.

Property profile
Verified
Property type Banks
Use group FINANCIAL BUILDING
Year built 1957
Construction BRICK
Total area 3,770 SF
Lot 0.87 ac (37,720 SF)
Zoning code B-2
APN 11 00032-0000-00018- 05
UPID US59-0933006
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
Current use
Occupant on record · Public records
  • Wells Fargo Bank Bank Loan Service
  • Wells Fargo ATM Atm
  • Wells Fargo Advisors Financial Advisor
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
$880k
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$860k
Owner & transaction history
15 N Main St LLC · 1 yrs held
15 N Main St LLC
since 2025
Last sale
$827,000
1 recorded transaction
2025
$827,000
Zoning & alternative use
B-2 · Milltown, NJ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description

B-2 Commercial Center Zone. [ Ord. No. 919 Art. XV, I; Ord. No. 957 § 1; Ord. No. 13-1378 § 3; Ord. No. 13-1382 § 3] The following regulations shall apply in the B-2 Commercial Center Zone: a. Purpose. Commercial Districts are established in order to achieve the general goals as stated in Section 34-2 and for the following specific purposes: 1. Encourage the…

Zone name Commercial Center
General category COMMERCIAL
Zone area 12.78 ac
Top alternative use upside
Office building $775,000 +94.8%
Medical building $730,000 +83.6%
Auto repair, garage $645,000 +61.8%
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