132 Route 31Pennington, NJ 08534

Property Details for 132 Route 31

Lot size

1.00 AC

Zone code

VRC

Property type

Office properties

Property subtype

Office buildings

APN

06 00031-0000-00004

APU

600031000000004

Description

This exceptional freestanding office building at 132 Route 31 in Pennington, NJ, presents a unique investment opportunity. Priced at $899,999, this property sits on a one-acre lot and offers significant versatility. Previously utilized as a medical office, its adaptable layout allows for a wide range of business applications. The building boasts high visibility from its prime location and is zoned VCR. The interior comprises a substantial 23x17 foot waiting room, three administrative offices, and four medical exam rooms. A dedicated laboratory includes a half-bath, and an additional half-bath serves the main area. Ample storage is available in the walk-out basement, which also houses essential utilities including a tankless hot water heater and water softener. The building is equipped with central air conditioning and forced-air heating. Exclusive parking is provided on-site. The expansive interior and flexible zoning make this property ideal for a variety of businesses seeking a prominent location with significant space and potential. This is a rare opportunity to acquire a well-maintained, versatile commercial building in a highly desirable area. The property's features and location combine to create an exceptional investment prospect. Don't miss this chance to transform this building into your ideal workspace.

• CAP approach

  CAP return

  Valuation

  6%

  $7,201,769

  6.5%

  $6,647,787

  7%

  $6,172,945

• Comparable approach

  Method

  Valuation

  Relative Method

  $5,691,550

  Geo Method

  $5,691,550

• Alternative Use

  Use

  Valuation

  Residential

  $8,243,256

  Hospitality

  $7,550,778

  Educational

  $6,282,158

  Medical

  $6,498,212

  Retail

  $9,772,247

Location Insight

City

Pennington

County

Mercer

State

New Jersey

Latitude

40.3573

Longitude

-74.799

CBSA code

45940

CBSA name

TRENTON-EWING, NJ METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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