60 Millstone RdFranklin Township, NJ 08873

Property Details for 60 Millstone Rd

Construction

BRICK

Lot size

0.16 AC

Property size (Sq ft)

3,375 SF

Zone code

HBD

Property type

Retail properties

Property subtype

Parking lots & garages

APN

08 00135- 01-00021

APU

8001350100021

Description

This exceptional 3,600 square foot commercial property, situated on a 0.16-acre lot at 60 Millstone Rd, Unit 60, Somerset, NJ, presents a unique opportunity for a variety of businesses. Recently updated, this flex space is perfectly suited for contractors, distributors, warehouse operations, office use, or a combination thereof. The warehouse component encompasses approximately 1,600 square feet, featuring 10-foot high ceilings, a convenient drive-in door, freshly painted floors, a practical utility sink, pre-installed storage racks, and a dedicated work area. The office space is equally impressive, boasting a formal conference room, a private executive office, a well-equipped kitchenette, and a full bathroom complete with a shower. Significant upgrades include a newly installed roof, a recently paved and striped fenced-in parking lot providing ample parking, and enhanced security features such as an alarm system and security cameras. Further enhancing its functionality is a backup generator and heavy power supply. This property also includes additional lots numbered 22, 26, 27, and 28, offering potential for expansion or future development. The property's prime location in desirable Somerset, NJ, ensures high visibility and easy access to major transportation routes. This is a turnkey operation ready for immediate occupancy.

• CAP approach

  CAP return

  Valuation

  6%

  $820,243

  6.5%

  $757,147

  7%

  $703,065

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,111,263

  Geo Method

  $1,111,263

• Alternative Use

  Use

  Valuation

  Residential

  $638,682

  Hospitality

  $585,029

  Educational

  $486,738

  Medical

  $503,477

  Retail

  $757,147

Location Insight

City

Somerset

County

Somerset

State

New Jersey

Latitude

40.4874

Longitude

-74.4811

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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