2 Route 31Pennington, NJ 08534

Property Details for 2 Route 31

Lot size

2.62 AC

Property size (Sq ft)

6,600 SF

Zone code

O-B

Property type

Retail properties

Property subtype

Banks

APN

08 00201-0000-00006

APU

800201000000006

Description

This exceptional 10,711 square foot freestanding commercial property, located at 2 Route 31 in Pennington, New Jersey, presents a unique leasing opportunity. The building, situated on a generous 2.5-acre lot, offers multiple suites ideal for executive office use. Currently, the entire 10,711 square feet is available for lease, divisible into spaces ranging from a minimum of 4,911 square feet to a maximum contiguous space of 5,800 square feet. The property boasts a convenient drive-thru feature and ample parking with 40 spaces available for tenants and their clients. The building's classification includes retail and office space, making it suitable for a variety of businesses. Its location in Mercer County, New Jersey, offers easy access to major transportation routes, ensuring convenient commutes for employees and clients alike. The zip code is 08534. This property is perfect for businesses seeking a high-visibility location with substantial space and convenient amenities. The building consists of two total suites. This is a rare opportunity to secure a prominent location in a thriving area. Inquire today to learn more about this exceptional leasing opportunity.

• CAP approach

  CAP return

  Valuation

  6%

  $1,604,030

  6.5%

  $1,480,644

  7%

  $1,374,883

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,173,137

  Geo Method

  $2,173,137

• Alternative Use

  Use

  Valuation

  Residential

  $1,248,978

  Hospitality

  $1,144,057

  Educational

  $951,842

  Medical

  $984,578

  Retail

  $1,480,644

Location Insight

City

Pennington

County

Mercer

State

New Jersey

Latitude

40.3278

Longitude

-74.7995

CBSA code

45940

CBSA name

TRENTON-EWING, NJ METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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