24 Broad St, Three Bridges, NJ 08887
This exceptional mixed-use property in Readington Township, NJ, presents a lucrative investment opportunity. The 3,500 square foot building, constructed in 1950 and extensively renovated in 2022, boasts a prime location at a Route 202 intersection between Flemington and Somerville, ensuring high visibility and accessibility. The building features 1,900 square feet dedicated to a commercial space, approved for various food establishments including pizzerias, and includes some existing inventory. The remaining space comprises a fully renovated two-bedroom apartment with a private entrance, ideal for owner occupancy or rental income generation. The exterior showcases a blend of stucco and stone, complemented by new windows and a new roof. Ample on-site parking (8 spaces) caters to both business patrons and apartment residents. Additional features include a full basement, office space, and substantial storage. The property sits on a 0.55-acre lot and is connected to public sewer. Its strategic location benefits from proximity to Three Bridges, Hunters Crossing Condominiums, and a nearby 80-unit development under construction, promising increased customer traffic. Owner financing is available with an acceptable offer. This turnkey operation offers a unique blend of commercial and residential potential, making it an attractive investment for discerning buyers. The asking price is $899,900.
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendProperty tax & assessments
Tax year 2022Comparables
6 recent transactions · within 1.5 miComparable in this City
Property description
Physical attributes from public recordsZoning & alternative use
VR · Three Bridges, NJThree Bridges. Always verify with local authorities before improvements.
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.