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    OFF-MARKET
    Commercial real estate

    24 Broad St, Three Bridges, NJ 08887

    2,899 SF 0.55 ac lot Built 1950
    Individually Owned 4-yr Hold ~ Est. High Equity
    Property ID
    US59-1629614
    Property summary
    AI-generated overview

    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.

    Property profile
    Verified
    Property type Commercial real estate
    Use group COMMERCIAL (GENERAL)
    Year built 1950
    Total area 2,899 SF
    Lot 0.55 ac (23,958 SF)
    Zoning code VR
    APN 22 00089-0000-00003
    UPID US59-1629614
    Cap rate & NOI
    Priority signal for investors
    Implied cap rate, NOI & suggested price
    Cap rate vs submarket · NOI estimate · 3 price anchors
    Implied cap rate, NOI & suggested price
    Cap vs submarket · NOI estimate · 3 price anchors
    Value estimations
    Realmo proprietary · 4 methods
    AI Approach AI
    by Request
    CAP Approach CAP
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    Blend (final) Blend
    by Request
    Owner & transaction history
    Rexhep Leka · 4 yrs held
    Rexhep Leka
    since 2021
    Last sale
    $185,000
    3 recorded transactions
    2021
    $185,000
    2021
    1991
    $250,000
    Zoning & alternative use
    VR · Three Bridges, NJ
    Permitted uses
    Permitted uses
    Allowed · conditional · prohibited
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