585 State Rt 23 Franklin, NJ 07416-2208
- Commercial real estate
- 1,552 SF
- 0.31 lot acres
Current Use by Public Records
- Commercial real estate
Property Details for 585 State Rt 23
- Year built
- 1930
- Lot size
- 0.31 lot acres
- Property size
- 1,552 SF
- Zone code
- HC-2
- Property type
- Commercial real estate
- APN
- 06 00102-0000-00011
- APU
- 600102000000011
Description
This exceptional 1,704 square foot commercial property, situated on a 0.31-acre lot at 585 State Route 23 in Franklin, NJ, presents a fantastic investment opportunity. The building, constructed of concrete block, features three garage bays, each equipped for efficient operation. A convenient garage door opener is installed on the first bay, enhancing accessibility. A car lift is included, adding significant functionality for repair work. The heated work area boasts 11 and 13-foot ceilings, providing ample space and headroom. A slop sink is conveniently located within the garage area. An exhaust fan is already in place, ensuring proper ventilation. The building also includes a waiting/office area with a case and electric heat, providing a comfortable space for clients. Additional features include a hatch attic for storage, multiple storage compartments throughout the building, and a bonus 12x8 shed offering even more storage capacity. The property also offers a lavatory and ample parking for both employees and clients. Oil heat and an oil burner provide reliable climate control. This prime location on a main highway ensures high visibility and accessibility, making it an ideal location for a variety of commercial uses. The property is priced at $2650.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $450,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $455,000
- 6.5%
- $415,000
- 7%
- $425,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $470,000
- Geo Method
- $460,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $435,000
- Retail
- $505,000
- Mixed-Use
- $515,000
- Hospitality
- $435,000
- Educational
- $445,000
- Residential Income
- $450,000
- Energy
- $540,000
- Income-Based Land
- $510,000
- Food Service
- $405,000
Location Insight
- Map
- Local Demand
- City
- Franklin
- County
- Sussex
- State
- New Jersey
- Longitude
- -74.5734
- Latitude
- 41.1359
- CBSA code
- 35620
- CBSA name
- NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA