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429 Rt-31 1,700 SF 100% Leased Flex Building Washington, NJ 07882 $1,199,000 ($705.29/SF) 4.52% Cap Rate
Investment Highlights
- Existing commercial/investment property with future land-value upside
- Ideal for owner-user, investor, developer, or land-bank buyer
- Flexible site with multiple potential use concepts, subject to municipal approvals
- Possible redevelopment, expansion, or adaptive reuse opportunity
- Existing frontage, access, parking, and utility availability
- Buyer to perform all zoning, engineering, environmental, and redevelopment due diligence
Executive Summary
**Commercial Property with Land-Value Upside | Possible Redevelopment Opportunity**
This property presents a unique opportunity for an owner-user, investor, or developer seeking both existing real estate value and future redevelopment potential. The site may be suitable for continued use as an improved commercial/investment property, adaptive reuse, expansion, or possible redevelopment, subject to municipal zoning, engineering, environmental review, and all required approvals.
With existing improvements, frontage, access, parking, and utility availability, the property offers flexibility for a wide range of potential users. The property may appeal to buyers looking for commercial use, land banking, future repositioning, or redevelopment potential.
Buyers are encouraged to conduct their own due diligence regarding permitted uses, zoning, density, site plan requirements, subdivision potential, environmental conditions, utility capacity, and redevelopment feasibility. No redevelopment approvals are represented unless specifically provided in writing.
This property presents a unique opportunity for an owner-user, investor, or developer seeking both existing real estate value and future redevelopment potential. The site may be suitable for continued use as an improved commercial/investment property, adaptive reuse, expansion, or possible redevelopment, subject to municipal zoning, engineering, environmental review, and all required approvals.
With existing improvements, frontage, access, parking, and utility availability, the property offers flexibility for a wide range of potential users. The property may appeal to buyers looking for commercial use, land banking, future repositioning, or redevelopment potential.
Buyers are encouraged to conduct their own due diligence regarding permitted uses, zoning, density, site plan requirements, subdivision potential, environmental conditions, utility capacity, and redevelopment feasibility. No redevelopment approvals are represented unless specifically provided in writing.
Financial Summary (Actual - 2025) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$79,022
|
$46.48
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$79,022
|
$46.48
|
| Taxes |
$15,977
|
$9.40
|
| Operating Expenses |
$8,900
|
$5.24
|
| Total Expenses |
$24,877
|
$14.63
|
| Net Operating Income |
$54,145
|
$31.85
|
Financial Summary (Actual - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $79,022 |
| Annual Per SF | $46.48 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $79,022 |
| Annual Per SF | $46.48 |
| Taxes | |
|---|---|
| Annual | $15,977 |
| Annual Per SF | $9.40 |
| Operating Expenses | |
|---|---|
| Annual | $8,900 |
| Annual Per SF | $5.24 |
| Total Expenses | |
|---|---|
| Annual | $24,877 |
| Annual Per SF | $14.63 |
| Net Operating Income | |
|---|---|
| Annual | $54,145 |
| Annual Per SF | $31.85 |
Property Facts
| Price | $1,199,000 | Building Class | C |
| Price Per SF | $705.29 | Lot Size | 1.08 AC |
| Sale Type | Investment | Rentable Building Area | 1,700 SF |
| Cap Rate | 4.52% | No. Stories | 1 |
| Property Type | Flex | Year Built | 1987 |
| Zoning | HC - Highway Commercial * See attached Document for Permitted Uses | ||
| Price | $1,199,000 |
| Price Per SF | $705.29 |
| Sale Type | Investment |
| Cap Rate | 4.52% |
| Property Type | Flex |
| Building Class | C |
| Lot Size | 1.08 AC |
| Rentable Building Area | 1,700 SF |
| No. Stories | 1 |
| Year Built | 1987 |
| Zoning | HC - Highway Commercial * See attached Document for Permitted Uses |
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease End
- multiple tenants
- Rental and Leasing Services
- -
- -
- -
| Tenant | Industry | SF Occupied | Rent/SF | Lease End | ||
| multiple tenants | Rental and Leasing Services | - | - | - |
Somewhat walkable
20/100
Exceptionally drivable
100/100
Somewhat bikeable
20/100
Property Taxes
| Parcel Number | 22-00076-0000-00002 | Total Assessment | $389,700 (2026) |
| Land Assessment | $124,000 (2026) | Annual Taxes | $15,977 ($9.40/SF) |
| Improvements Assessment | $265,700 (2026) | Tax Year | 2025 |
Property Taxes
Parcel Number
22-00076-0000-00002
Land Assessment
$124,000 (2026)
Improvements Assessment
$265,700 (2026)
Total Assessment
$389,700 (2026)
Annual Taxes
$15,977 ($9.40/SF)
Tax Year
2025
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429 Rt-31