361 State Route 31Flemington, NJ 08822
- Commercial real estate
- 5.01 AC
Property Details for 361 State Route 31
- Construction
- FRAME
- Lot size
- 5.01 AC
- Zone code
- R-3
- Property type
- Commercial real estate
- APN
- 21 00008-0000-00029
- APU
- 2100008000000029
Description
This exceptional office building, located at 361 State Route 31 in Flemington, New Jersey, presents a unique opportunity for businesses seeking a spacious and well-situated location. The property boasts a generous 5.01-acre lot, offering ample room for expansion, parking, and outdoor amenities. The building itself is designed for office use and provides a substantial amount of space, ideal for a variety of business needs. The monthly rental rate is $2400, making it a competitive option in the Flemington market. The property's strategic location on State Route 31 ensures excellent visibility and convenient access to major transportation routes, facilitating easy commutes for employees and clients alike. This presents a rare chance to secure a significant office space in a desirable location with ample land for future development or expansion. The property's size and location make it suitable for a range of businesses, from small startups to established companies seeking to upgrade their facilities. Further details regarding the building's interior specifications and layout are available upon request. Interested parties are encouraged to schedule a viewing to fully appreciate the potential of this exceptional property. The asking price reflects the property's value and the current market conditions in Flemington, New Jersey. Don't miss this opportunity to secure a prime office space in a thriving community.
Valuation
by Paperhouses methods
- Valuation date:
- Dec 11, 2024
-
CAP approach
- CAP return
- Valuation
- 6%
- $45,229,400
- 6.5%
- $41,750,200
- 7%
- $38,768,000
-
Comparable approach
- Method
- Valuation
- Relative Method
- $28,554,200
- Geo Method
- $28,514,700
-
Alternative Use
- Use
- Valuation
- Industrial / Distribution
- $82,428,500
- Retail / Commercial
- $42,223,500
- Mixed-Use / Specialty
- $42,037,200
- Hospitality / Lodging
- $30,794,800
- Office
- $41,750,200
- Institutional / Educational
- $43,689,000
- Residential Income
- $51,116,100
- Multifamily
- $61,504,200
- Automotive / Energy
- $37,447,700
- Parking / Income-Based Land
- $12,958,100
- Restaurant / Food Service
- $21,787,500
- Healthcare / Senior Housing
- $43,145,000
Location Insight
- City
- Flemington
- County
- Hunterdon
- State
- New Jersey
- Latitude
- 40.5478
- Longitude
- -74.8569
- CBSA code
- 35620
- CBSA name
- NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
FAQs
- How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?
- Please email our support team at [email protected] and they will add the team member.
- How do I access a private listing?
- Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.
- How can I contact the broker?
- We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
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