Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    172 Oldwick Rd Tewksbury, NJ 08889

    • Commercial real estate
    • 2,248 SF
    • 2.05 lot acres
    For Lease
    View listing
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US59-2051479
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Commercial real estate

    Property Details for 172 Oldwick Rd

    Year built
    1962
    Lot size
    2.05 lot acres
    Property size
    2,248 SF
    Zone code
    VO
    Property type
    Commercial real estate
    APN
    24 00045-0000-00001
    APU
    2400045000000001

    Description

    This exceptional retail opportunity presents a 2,200-square-foot freestanding building situated on a generous 2.046-acre lot in Tewksbury, New Jersey. Located at 172 Oldwick Road, zip code 08889, this single-tenant property offers significant visibility and accessibility. The building is currently vacant, providing a blank canvas for a new tenant to customize the space to their specific needs. Ample parking is available with 15 spaces provided for customers and employees. The property's classification includes "Commercial," "Drive Thru," and "Freestanding," suggesting potential for a variety of retail uses, particularly those benefiting from convenient drive-thru access. The property is located in Hunterdon County, New Jersey, offering access to a thriving local market. The substantial lot size provides ample room for expansion or outdoor amenities. This is an ideal location for businesses seeking high visibility and convenient access in a desirable New Jersey community. The entire 2,200 square feet is available for lease. This property presents a rare opportunity to establish a strong retail presence in a prime location.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Whitehouse Station
    County
    Hunterdon
    State
    New Jersey
    Longitude
    -74.7486
    Latitude
    40.6656
    CBSA code
    35620
    CBSA name
    NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2022
    $15,784
    $302,000
    $392,400
    $694,400
    -
    $302,000
    $392,400
    $694,400

    Comparable in this City

    • Value Estimation by Request
      14.93 Acres

      6 Carman Ln

      COMMERCIAL (GENERAL) • 14.93 Acres
      6 Carman Ln, Whitehouse Station, NJ 08889
      View Details
    • Value Estimation by Request
      16.44 Acres

      31 Tree Top Rd

      COMMERCIAL (GENERAL) • 16.44 Acres
      31 Tree Top Rd, Whitehouse Station, NJ 08889-3712
      View Details
    • Value Estimation by Request
      5.70 Acres

      413 Rt 22

      COMMERCIAL (GENERAL) • 5.70 Acres
      413 Rt 22, Whitehouse Station, NJ 08889
      View Details
    • Value Estimation by Request
      0.33 Acres

      28 Old Hwy

      Commercial real estate • 0.33 Acres
      28 Old Hwy, Readington, NJ 08889
      View Details
    • Value Estimation by Request

      384 Rt 22

      COMMERCIAL (GENERAL)
      384 Rt 22, Whitehouse Station, NJ 08889
      View Details
    • Value Estimation by Request

      384 Rt 22

      COMMERCIAL (GENERAL)
      384 Rt 22, Whitehouse Station, NJ 08889
      View Details

    Similar Nearby for Sale

    • $1,750,000
      11,500 SF

      Also small kitchenettes for convenient spot for employees. Great also for medical use""""}"""

      Prime Somerville Commercial Space
      372 Rt 22, Somerville, NJ 08889
      View Details
    • Contact for pricing

      Somerville Office Space - 2500 SF

      Prime 2nd floor office, ample parking, easy highway access.
      372 Rt 22, Somerville, NJ 08889
      View Details
    • $825,000
      2,744 SF

      Renovated Victorian Colonial Mixed-Use Property

      Fully renovated mixed-use property in Whitehouse Station with endless possibilities.
      131 Main St, Whitehouse Station, NJ 08889
      View Details
    • $1,800,000
      7.38 Acres

      Readington Twp. Land Opportunity

      7.38 acres of land with development potential.
      474 Rt22, Whitehouse Station, NJ 08889
      View Details
    • Contact for pricing
      12,465 SF

      Medical Office Building in Whitehouse Station, NJ

      12,465 SF Medical Office Building on 3.86 Acres
      456 Us-22, Readington Township, NJ 08889
      View Details
    • $350,000

      Corner Lot on State Highway

      Highly visible corner lot suitable for various commercial and residential uses.
      101 Main St, Whitehouse Station, NJ 08889
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Retail Space in Busy Mall

      Retail space with hardwood floors in a busy shopping mall.
      431 Rte 22 East, Whitehouse Station, NJ 08889
      View Details
    • $13 SF/Yr
      92,000 SF

      Industrial Space in Whitehouse Station

      92,000 square feet of industrial space for lease.
      12 Coddington Rd, White House Station, NJ 08889
      View Details
    • Contact for pricing
      2,200 SF

      Prime Tewksbury Retail Space

      Freestanding building, 2,200 sq ft, 15 parking spaces
      172 Oldwick Rd, Tewksbury, NJ 08889
      View Details
    • Contact for pricing

      Retail Space in Readington Mall

      Lower level retail space in a busy highway mall.
      431 Rte 22 East, Whitehouse Station, NJ 08889
      View Details
    • $1,700 /Mo
      1,200 SF

      Readington Warehouse Space on Route 22

      Warehouse space ideal for equipment storage and contractor use.
      3571 Rte, Whitehouse Station, NJ 08889
      View Details
    • $15 SF/Yr

      Readington Office Building for Lease

      4,132 SF office space available for lease in Readington.
      1 Old Highway 28, Whitehouse Station, NJ 08889
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    172 Oldwick Rd
    Tewksbury, NJ 08889
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.