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

    226 Mcfarlan St Dover, NJ 07801-3500

    • Commercial real estate
    • 0.16 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US59-1197417
    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 226 Mcfarlan St

    Year built
    1940
    Construction
    CONCRETE BLOCKS
    Lot size
    0.16 lot acres
    Zone code
    C-2
    Property type
    Commercial real estate
    APN
    09 01318-0000-00009
    APU
    901318000000009

    Description

    This exceptional 0.16-acre commercial lot, situated on Route 46 in Dover, New Jersey, presents a unique opportunity for entrepreneurs and businesses. Zoned C-2, this property offers significant potential for a variety of commercial uses. The lot measures approximately 6,800 square feet and is partially paved, featuring a small concrete slab where a previous structure was removed. A detailed survey is available for review. The seller possesses comprehensive documentation related to the property's previous use, including applications for variances, which can be invaluable in navigating the approval process. For a visual reference, historical satellite imagery showcasing the previous structure and parking area is available upon request. This prime location on Route 46 ensures high visibility and accessibility, making it an ideal site for a small business. The town of Dover is actively seeking development for this location. This property is being offered at $239,800 and represents a compelling investment opportunity for those seeking a strategic foothold in a thriving commercial area. Interested parties are encouraged to contact the listing agent to discuss the possibilities and explore the potential of this exceptional property.

    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
    Dover
    County
    Morris
    State
    New Jersey
    Longitude
    -74.551
    Latitude
    40.8883
    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
    $6,503
    $219,900
    $100
    $220,000
    -
    $219,900
    $100
    $220,000

    Comparable in this City

    • Value Estimation by Request
      3.70 Acres

      6 Commerce Ctr Dr

      COMMERCIAL (GENERAL) • 3.70 Acres
      6 Commerce Ctr Dr, Dover, NJ 07801
      View Details
    • Value Estimation
      $11,045,000
      87,853 SF

      327 Mt Hope Ave

      COMMERCIAL (GENERAL) • 87,853 SF
      327 Mt Hope Ave, Dover, NJ 07801
      View Details
    • Value Estimation by Request
      621 SF

      93 Mt Pleasant Ave

      COMMERCIAL (GENERAL) • 621 SF
      93 Mt Pleasant Ave, Dover, NJ 07801-1698
      View Details
    • Value Estimation
      $10,450,000
      3.54 Acres

      4 Commerce Ctr Dr

      COMMERCIAL (GENERAL) • 3.54 Acres
      4 Commerce Ctr Dr, Dover, NJ 07801-5779
      View Details
    • Value Estimation
      $1,335,000
      10,938 SF

      152 Blackwell St

      COMMERCIAL (GENERAL) • 10,938 SF
      152 Blackwell St, Dover, NJ 07801
      View Details
    • Value Estimation
      $2,105,000
      17,684 SF

      425 Blackwell St

      COMMERCIAL (GENERAL) • 17,684 SF
      425 Blackwell St, Dover, NJ 07801-4312
      View Details

    Similar Nearby for Sale

    • $499,900

      Two-Family Home Near Town

      Two-family home with great living space and strong rent potential.
      126 Prospect St, Dover, NJ 07801
      View Details
    • $649,900

      Extraordinary Dover Two-Family Residence

      Unique two-family residence in the heart of Dover, New Jersey.
      301 E Mcfarlan St, Dover, NJ 07801
      View Details
    • Contact for pricing

      Retail Space on Large Parcel

      Retail property with easy access and shared parking available for sale.
      Dover, Rockaway, NJ 07801
      View Details
    • $574,999

      Spacious Dover Two-Family Home

      Two-family home on oversized lot, great investment opportunity.
      18 Perry St, Dover, NJ 07801
      View Details
    • $3,750,000
      5,413 SF

      Historic Theater with Apartments

      Historic 1200-seat theater with retail space and apartments.
      39 W Black Wl St, Dover, NJ 07801
      View Details
    • Contact for pricing

      Land Near Rockaway Townsquare Mall

      Land with high traffic count and potential for restaurant.
      466 Mount Hope Ave, Dover, NJ 07801
      View Details

    Similar Nearby for Lease

    • $8 SF/Yr
      2,795 SF

      Dover Flex/Industrial Space Available

      Flex/Industrial space available for lease in Dover, New Jersey.
      26 Richboynton Rd, Dover, NJ 07801
      View Details
    • Contact for pricing
      31,078 SF

      Freestanding Retail Building For Rent

      Freestanding retail building with shared parking and easy highway access.
      550 Mount Pleasant Ave, Dover, NJ 07801
      View Details
    • $2,070 /Mo
      8,276 SF

      Retail Space in Dover Town

      Commercial space available in vibrant downtown Dover, New Jersey.
      16 War, Dover, NJ 07801
      View Details
    • Contact for pricing
      241,952 SF

      Rockaway Township Retail Center

      Prime Retail Space Available in NJ
      200 Enterprise Dr, Rockaway Township, NJ 07801
      View Details
    • $270 SF/Yr
      8,276 SF

      Commercial Space in Downtown Dover

      Multiple spaces available in a vibrant downtown Dover location.
      16 War, Dover, NJ 07801
      View Details
    • $2,600 /Mo

      Renovated Two-Bedroom Apartment in Dover

      Recently renovated 2-bedroom apartment near train, restaurants, and shops.
      31 Union St, Dover, NJ 07801
      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.
    226 Mcfarlan St
    Dover, NJ 07801-3500
    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.