15 Main St Milltown, NJ 08850-1518
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.
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Wells Fargo Bank Bank Loan Service
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Wells Fargo ATM Atm
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Wells Fargo Advisors Financial Advisor
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…
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
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Property description
Physical attributes from public recordsZoning & alternative use
B-2 · Milltown, NJB-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 tendency of commercial development to cluster to the mutual advantage of both customers and merchants and thus to promote public convenience, prosperity and welfare. 2. To protect commercial development against the establishment of uses which would create hazards, offensive noise, vibrations, smoke, dust, odors, heat, glare and other objectionable influence. 3. To protect commercial development against congestion as far as is possible and appropriate in each area by limiting the bulk of buildings in relation to the land around them and to one another. b. Permitted Principal Uses. 1. All uses permitted in subsection 34-21.1b of the B-1 Zone. 2. Restaurants, except drive-in, drive-thru, carry out or fast food restaurants. 3. Lawn and garden shops. 4. Professional offices. 5. Medical and radiologic laboratories. 6. Computer or electronic services or rental. 7. Retail integrated developments of such uses as retail stores and shops, personal service establishments, professional and business offices, banks, and restaurants housed in an enclosed building or buildings and utilizing such common facilities as customer parking areas, pedestrian walks, truck loading and unloading space, utilities and sanitary facilities and other necessary and appropriate uses, subject to and in conformance with the regulations specified herein. 8. Movie theaters. c. Permitted Accessory Uses. 1. Off-street parking spaces, parking garages and off-street loading areas. 2. Enclosed storage of goods incidental to the conduct of the retail business not exceeding 10% gross lot area and not exceeding maximum impervious coverage requirement of this zone. 3. Fences, walls and hedges. d. Conditional Uses. 1. Public utility facilities required to provide the direct service of the utility to the consumers such as transformers and pumping stations but excluding warehouses, service or storage and treatment facilities. 2. Automobile service and repair garages, gas stations. 3. Fraternal, charitable and philanthropic institutions. 4. Drive-in banks. 5. Satellite dish antennas. 6. Home Occupations.
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.