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

    397 Us Hwy 206 Hillsborough, NJ 08844-5086

    • Commercial real estate
    • 4,256 SF
    • 1.14 lot acres
    OFF-MARKET
    Last Sale
    Jun 13, 2022
    $999,999
    Value Estimations
    $1,090,000
    Show details
    Cap Rate Potential
    6%
    Commercial real estate
    Location Intelligence
    Property ID
    US59-1898452
    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 397 Us Hwy 206

    Year built
    1919
    Construction
    BRICK
    Lot size
    1.14 lot acres
    Property size
    4,256 SF
    Zone code
    TC
    Property type
    Commercial real estate
    APN
    10 00199-0000-00001
    APU
    1000199000000001

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,190,000
      ML approach
      $1,155,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,190,000
      6.5%
      $1,100,000
      7%
      $1,020,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,482,000
      Market price range: $623k - $1.57M
      AI Estimate
      $744,000
      Market price range: $217k - $1.03M

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

    Location Insight

    • Map
    • Local Demand
    City
    Hillsborough
    County
    Somerset
    State
    New Jersey
    Longitude
    -74.6392
    Latitude
    40.5071
    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
    $17,145
    $513,000
    $380,800
    $893,800
    -
    $513,000
    $380,800
    $893,800

    Comparable in this City

    • Value Estimation by Request
      3,809 SF

      1370 Main St

      Commercial real estate • 3,809 SF
      1370 Main St, Hillsborough, NJ 08844
      View Details
    • Value Estimation by Request
      1,884 SF

      351 Us Hwy 206

      COMMERCIAL (GENERAL) • 1,884 SF
      351 Us Hwy 206, Hillsborough, NJ 08844-4651
      View Details
    • Value Estimation
      $4,440,000
      19,528 SF

      315 Us Hwy 206

      COMMERCIAL (GENERAL) • 19,528 SF
      315 Us Hwy 206, Hillsborough, NJ 08844-4627
      View Details
    • Value Estimation by Request
      4.30 Acres

      739 Us-206

      Land • 4.30 Acres
      739 Us-206, Hillsborough Township, NJ 08844
      View Details
    • Value Estimation by Request
      8,400 SF

      312 Courtyard Dr

      Commercial real estate • 8,400 SF
      312 Courtyard Dr, Hillsborough, NJ 08844
      View Details
    • Value Estimation
      $3,320,000
      26,815 SF

      886 Us Hwy 206

      COMMERCIAL (GENERAL) • 26,815 SF
      886 Us Hwy 206, Hillsborough, NJ 08844-1509
      View Details

    Similar Nearby for Sale

    • $243,000
      1,280 SF

      Hillsborough Medical Office - $243K

      Turn-key medical office, 1280 sq ft, NJ.
      0 243000, Hillsborough Township, NJ 08844
      View Details
    • $299,900
      1.37 Acres

      Hillsborough Industrial Land - $299,900

      1.37-Acre Industrial Lot, Utilities Available
      73 Weston Rd, Hillsborough Township, NJ 08844
      View Details
    • $799,000
      1.98 Acres

      Hillsborough Retail Land - $799K

      Prime Retail Land, High Traffic Area
      834 Rte 206, Hillsborough Township, NJ 08844
      View Details
    • Contact for pricing
      3,809 SF

      Prime Hillsborough Commercial Building

      Bank Building, High Visibility, Ample Parking
      1370 Main St, Hillsborough, NJ 08844
      View Details
    • Contact for pricing
      6,160 SF

      Prime Hillsborough Commercial Space

      High-visibility corner location, 6160 sqft
      1 New Amwell Rd Unit, Hillsborough, NJ 08844
      View Details
    • Contact for pricing
      0.80 Acres

      Prime Hillsborough Commercial Property

      Bank Building, 2 Floors, High Visibility
      Millstone River Rd, Hillsborough, NJ 08844
      View Details

    Similar Nearby for Lease

    • $18 SF/Yr
      4,152 SF

      Carriage Farm: Versatile Industrial Space

      Multiple spaces, 88-2,197 sq ft. Ideal for various uses.
      2 Clerico Ln, Hillsborough Township, NJ 08844
      View Details
    • $3,000 /Mo

      Retail/Office Space For Lease

      Highway frontage retail/office space available for lease.
      718 Us Hwy, Hillsborough, NJ 08844
      View Details
    • $14 SF/Yr
      16,000 SF

      Hillsborough Office Space Available

      Class A Office Suites, 1,000-8,000 SF
      425 Amwell Rd, Hillsborough Township, NJ 08844
      View Details
    • $14 SF/Yr
      30,000 SF

      Triangle Road Office Space

      Prime Office Space, Excellent Location, NNN Lease
      220 Triangle Rd, Hillsborough Township, NJ 08844
      View Details
    • $25 SF/Yr

      Bridgewater Medical Office Space

      Upscale, high-traffic medical office building.
      475 Brg St, Hillsborough Township, NJ 08844
      View Details
    • Contact for pricing
      43,560 SF

      Prime Hillsborough Retail Land

      Kohl's Pad Site: 1-Acre Ground Lease
      315 Us-206, Hillsborough Township, NJ 08844
      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.
    397 Us Hwy 206
    Hillsborough, NJ 08844-5086
    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.