15 Main St Milltown, NJ 08850-1518
- Banks
- 3,770 SF
- 0.87 lot acres
Current Use by Public Records
- Wells Fargo Bank / Bank / Atm
- Wells Fargo ATM / Atm
- Wells Fargo Advisors / Investment Service
Property Details for 15 Main St
- Year built
- 1957
- Construction
- BRICK
- Lot size
- 0.87 lot acres
- Property size
- 3,770 SF
- Zone code
- B-2
- Property type
- Banks
- APN
- 11 00032-0000-00018- 05
- APU
- 110003200000001805
Description
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.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $895,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $910,000
- 6.5%
- $915,000
- 7%
- $760,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $870,000
- Geo Method
- $775,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $820,000
- Retail
- $745,000
- Mixed-Use
- $750,000
- Hospitality
- $760,000
- Educational
- $745,000
- Residential Income
- $815,000
- Energy
- $765,000
- Income-Based Land
- $895,000
- Food Service
- $895,000
Location Insight
- Map
- Local Demand
- City
- Milltown
- County
- Middlesex
- State
- New Jersey
- Longitude
- -74.4375
- Latitude
- 40.4517
- CBSA code
- 35620
- CBSA name
- NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA