221 Main StFlemington, NJ 08822

Property Details for 221 Main St

Year built

1900

Construction

FRAME

Lot size

0.55 AC

Property size (Sq ft)

4,910 SF

Zone code

CB

Property type

Commercial real estate

APN

09 00045-0000-00023

APU

900045000000023

Description

This well-maintained, two-story office building at 221 S Main St, Flemington, NJ 08822, offers 4,700 square feet of versatile space. Built in 1945 and renovated in 2006, the Class B property features multiple private offices, conference/training rooms, and bullpen areas, catering to diverse business needs. The 0.55-acre lot provides ample surface parking for 21 vehicles. Its convenient location in a highway business district on the southern side of a traffic circle ensures easy access, with uncomplicated ingress and egress. The property benefits from proximity to major roadways, including US 202 and RT 31, and is just minutes from the Hunterdon County Seat. The asking price is $699,000, translating to $148.72 per square foot. The building is zoned for commercial use and presents an excellent owner/user investment opportunity. This single building property offers a solid return on investment in a desirable location. The property's features include 4,700 square feet of net rentable space.

• CAP approach

  CAP return

  Valuation

  6%

  $1,016,790

  6.5%

  $938,576

  7%

  $871,535

• Comparable approach

  Method

  Valuation

  Relative Method

  $642,422

  Geo Method

  $641,541

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $1,853,010

  Retail / Commercial

  $949,202

  Mixed-Use / Specialty

  $945,021

  Hospitality / Lodging

  $692,293

  Office

  $938,576

  Institutional / Educational

  $982,156

  Residential Income

  $1,149,120

  Multifamily

  $1,382,620

  Automotive / Energy

  $841,848

  Parking / Income-Based Land

  $291,299

  Restaurant / Food Service

  $489,810

  Healthcare / Senior Housing

  $969,919

Location Insight

City

Flemington

County

Hunterdon

State

New Jersey

Latitude

40.5015

Longitude

-74.8591

CBSA code

35620

CBSA name

NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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