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

    2 Mine St Flemington, NJ 08822

    • Commercial real estate
    • 5,933 SF
    • 0.11 lot acres
    For Sale
    View listing
    $1,199,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US59-2085339
    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 2 Mine St

    Construction
    FRAME
    Lot size
    0.11 lot acres
    Property size
    5,933 SF
    Zone code
    DB
    Property type
    Commercial real estate
    APN
    09 00036-0000-00019
    APU
    900036000000019

    Description

    This exceptional multifamily investment property, located at 2 Mine Street in Flemington, New Jersey, presents a rare opportunity for discerning investors. Priced at $1,199,999, this three-story building boasts a strong 7.56% capitalization rate, based on a gross annual rental income of $122,400. The property comprises four apartments and two storefronts, strategically situated in the heart of Flemington's Main Street, surrounded by thriving cafes and restaurants. Its prime location is just a block from the County Courthouse and the Historic Union Hotel, currently undergoing a significant renovation into a 100-room hotel. The area is experiencing substantial year-over-year growth, fueled by new upscale townhomes and apartment developments. Tenants are responsible for heat, hot water, and sewer costs, further enhancing the property's profitability. This corner location at Main Street and Mine Street offers excellent visibility and accessibility. The property's strong cash flow and prime location make it an ideal candidate for a 1031 exchange, providing a compelling investment opportunity in a rapidly developing market. The zip code is 08822. Detailed financial information is available upon request.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $581,000
      Market price range: $582k - $1.50M
      AI Estimate
      $353,000
      Market price range: $354k - $1.05M

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $880,000
      Current use

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

    Location Insight

    • Map
    • Local Demand
    City
    Flemington
    County
    Hunterdon
    State
    New Jersey
    Longitude
    -74.8589
    Latitude
    40.5087
    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
    $14,374
    $108,600
    $358,400
    $467,000
    -
    $108,600
    $358,400
    $467,000

    Comparable in this City

    • Value Estimation by Request
      0.69 Acres

      29 Nj-12

      Retail properties • 0.69 Acres
      29 Nj-12, Flemington, NJ 08822
      View Details
    • Value Estimation by Request
      20,000 SF

      4 Walter E Foran Blvd

      Commercial real estate • 20,000 SF
      4 Walter E Foran Blvd, Flemington, NJ 08822
      View Details
    • Value Estimation by Request
      2.12 Acres

      2 Kings Ct

      COMMERCIAL (GENERAL) • 2.12 Acres
      2 Kings Ct, Flemington, NJ 08822-6019
      View Details
    • Value Estimation by Request
      0.14 Acres

      279 Main St

      COMMERCIAL (GENERAL) • 0.14 Acres
      279 Main St, Flemington, NJ 08822-1744
      View Details
    • Value Estimation by Request
      2.84 Acres

      4 Minneakoning Rd

      COMMERCIAL (GENERAL) • 2.84 Acres
      4 Minneakoning Rd, Flemington, NJ 08822-5794
      View Details
    • Value Estimation by Request
      7.75 Acres

      141 Reaville Ave

      COMMERCIAL (GENERAL) • 7.75 Acres
      141 Reaville Ave, Flemington, NJ 08822
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      1.52 Acres

      Prime Flemington Development Land

      1.52 Acres, Build-to-Suit Options
      179 Nj-31, Flemington, NJ 08822
      View Details
    • Contact for pricing
      2,106 SF

      44 Suite B, Flemington, NJ 08822

      Commercial real estate • 2,106 SF
      44 Suite B, Flemington, NJ 08822
      View Details
    • $194,900
      20,000 SF

      Flemington Office Suite - For Sale

      Modern office suite, prime location, fully equipped.
      4 Walter E Foran Blvd, Flemington, NJ 08822
      View Details
    • Contact for pricing
      2.57 Acres

      Flemington Highway Commercial Space

      High-visibility commercial space, 2.57 acres.
      44 Suite A, Flemington, NJ 08822
      View Details
    • $725,000
      2.40 Acres

      Flemington Commercial Property - 2.4 Acres

      Prime Flemington commercial lot, ample parking.
      Rt 523, Flemington, NJ 08822
      View Details
    • Contact for pricing
      2,340 SF

      Flemington Warehouse: High & Dry Storage

      Spacious 2,340 sq ft warehouse, private & secure.
      925 Suite 3C, Flemington, NJ 08822
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      66,211 SF

      Flemington Commercial Land Opportunity

      1.52 Acres, Route 31 Frontage, NJ
      179 Nj-31, Flemington, NJ 08822
      View Details
    • Contact for pricing

      Prime Flemington Retail Space

      High-traffic location, single-tenant opportunity.
      29 Nj-12, Flemington, NJ 08822
      View Details
    • $650 /Mo

      Historic Mansion Office Space

      Third floor office space available for lease in Flemington.
      24 Mine St, Flemington, NJ 08822
      View Details
    • $12 SF/Yr

      Flexible Industrial Warehouse Space Available

      Flexible warehouse space with easy highway access, 10,000-40,000 sqft.
      54 State Route 12, Flemington, NJ 08822
      View Details
    • $22 SF/Yr

      Flemington Retail Space For Lease

      Prime 2,000 SF Retail Space in Flemington
      100 Reaville Ave, Flemington, NJ 08822
      View Details
    • $1,100 /Mo

      Downtown Flemington Commercial Storefront

      Commercial space in downtown Flemington, ideal for small business.
      39 Mine St #1, Flemington, NJ 08822
      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.
    2 Mine St
    Flemington, NJ 08822
    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.