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    59 South Finley Ave Basking Ridge, NJ 07920

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    59 South Finley Ave Basking Ridge, NJ 07920

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    • Commercial real estate
    • 7,800 SF
    • 1.24 lot acres
    For Sale
    $1,650,000
    View Listing →
    Two-Story Brick Building on Corner For Sale
    $1,650,000
    8,200 SF

    Two-Story Brick Building on Corner

    Retail/office building on a prominent corner lot.

    59 South Finley Avenue, Basking Ridge, NJ 7920
    View Listing
    Property ID
    US59-1512264
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Wells Fargo Bank / Bank / Loan Service
    • Re/Max Alliance / Real Estate Agency
    • Wells Fargo ATM / Atm
    • Wells Fargo Advisors / Financial Advisor
    • Ella Rentiers, RE/MAX Alliance / Real Estate Agency

    Property Details for 59 South Finley Ave

    Year built
    1953
    Construction
    BRICK
    Lot size
    1.24 lot acres
    Property size
    7,800 SF
    Zone code
    B1
    Property type
    Commercial real estate
    APN
    02 01802-0000-00001
    APU
    201802000000001

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $2,185,000
      6.5%
      $2,015,000
      7%
      $1,875,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,959,000
      Market price range: $1.25M - $3.01M
      AI Estimate
      $1,209,000
      Market price range: $577k - $1.67M

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $1,995,000
      Current use
      INDUSTRIAL (GENERAL)
      $2,625,000
      Change: +32% Conversion: Moderate
      OFFICE BUILDING
      $1,610,000
      Change: -19% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Basking Ridge
    County
    Somerset
    State
    New Jersey
    Longitude
    -74.5494
    Latitude
    40.7048
    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
    2023
    $37,513
    $733,000
    $1,256,000
    $1,989,000
    -
    $733,000
    $1,256,000
    $1,989,000

    Comparable in this City

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      $525,000
      35.65 Acres

      177 Allen Rd

      COMMERCIAL (GENERAL) • 35.65 Acres
      177 Allen Rd, Basking Ridge, NJ 07920-2916
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    • Value Estimation by Request
      28.00 Acres

      150 Allen Rd

      COMMERCIAL (GENERAL) • 28.00 Acres
      150 Allen Rd, Basking Ridge, NJ 07920-2977
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    • Value Estimation by Request
      1.40 Acres

      Washington Vly Rd

      COMMERCIAL (GENERAL) • 1.40 Acres
      Washington Vly Rd, Basking Ridge, NJ 07920
      View Details
    • Value Estimation
      $1,375,000
      8,946 SF

      22 Church St

      COMMERCIAL (GENERAL) • 8,946 SF
      22 Church St, Basking Ridge, NJ 07920
      View Details
    • Value Estimation
      $26,480,000
      211,662 SF

      131 Morristown Rd

      COMMERCIAL (GENERAL) • 211,662 SF
      131 Morristown Rd, Basking Ridge, NJ 07920-1654
      View Details
    • Value Estimation
      $8,600,000
      61,630 SF

      25 Mountainview Blvd

      COMMERCIAL (GENERAL) • 61,630 SF
      25 Mountainview Blvd, Basking Ridge, NJ 07920-3452
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Freestanding Retail/Office Building For Sale

      5,900 SF retail/office building in historic Liberty Corner.
      Basking Rdg, Liberty Corner, NJ 07920
      View Details
    • $899,000

      Oversized Lot in Basking Ridge

      Rare opportunity to purchase a lot or build a custom home.
      4 Colts Glen Ln, Basking Ridge, NJ 07920
      View Details
    • Contact for pricing
      1,953 SF

      Downtown Basking Ridge Office Building

      Three-tenant office building in downtown Basking Ridge, fully occupied.
      66 S Finley Ave, Basking Ridge, NJ 07920
      View Details
    • $2,499,000
      0.25 Acres

      Basking Ridge Investment Opportunity

      Two buildings with seven rental units in Basking Ridge center.
      31 S Finley Ave, Basking Ridge, NJ 07920
      View Details
    • $1,650,000
      8,200 SF

      Two-Story Brick Building on Corner

      Retail/office building on a prominent corner lot.
      59 South Finley Ave, Basking Ridge, NJ 07920
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Modern Office Space For Rent

      Office space in Somerset County's Blue-Chip Corridor.
      222 Mount Airy Rd, Basking Ridge, NJ 07920
      View Details
    • Contact for pricing

      Retail Space in Highlands Village

      Retail space in master-planned community with easy highway access.
      578 Allen Rd, Basking Ridge, NJ 07920
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    • Contact for pricing
      1,865 SF

      Upscale Retail Space For Lease

      Upscale village square shopping center with retail and office space.
      403 King George Rd, Basking Ridge, NJ 07920
      View Details
    • Contact for pricing
      42,000 SF

      Furnished Office Space Available

      Furnished office space with highway access in Basking Ridge.
      73 Mountainview Blvd, Basking Ridge, NJ 07920
      View Details
    • Contact for pricing

      Modern Medical Building Office Space

      Prime medical space in Somerset County, Basking Ridge location.
      150 North Finley Ave, Basking Ridge, NJ 07920
      View Details
    • Contact for pricing
      57,857 SF

      Prestigious Basking Ridge Office Building

      Trophy office building with full-service cafeteria and fitness center.
      477 Martinsville Rd, Basking Ridge, NJ 07920
      View Details
    View Listing
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    Basking Ridge, NJ 07920
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    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
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