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$575,000
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Property Description
Prime Income-Producing Investment Opportunity! Don't miss this versatile, fully rented investment property featuring three buildings with a strong mix of residential and commercial income. The property includes three residential units two 1-bedroom with 1 bath apartments and one stand-alone 3-bedroom, 1.5 bath house plus a garage/repair shop with excellent highway exposure. The commercial garage offers three overhead doors, a car lift, office space. Property serviced by natural gas and oil heat, making it ideal for automotive, contractor, or service-based use. Ample off-street parking supports both residential tenants and business operations. All units are fully rented, allowing you to start generating income immediately. Tenants are responsible for all utilities, while the owner covers taxes, snow plowing, and lawn maintenance, keeping expenses straightforward and predictable. Total rent rolls $7,000/month! The stand-alone house and upper residential unit have been recently refreshed/renovated, adding value and tenant appeal. Strategically located on a highway for maximum visibility, this property is also close to shopping, Crystal Springs, and popular ski resorts, increasing long-term rental demand and commercial potential. A rare opportunity to acquire a turnkey, mixed-use investment with multiple income streams in a high-exposure location.
Full Property Details
Full Property Details for 585 State Rt 23
General
- Price: $575,000
- Taxes: $13,981 (2024)
- Status: Active
- Type: Commercial
- Source: Garden_State
- MLS ID: 4003646
- Updated: 1/6/2026
- Added to Site: 13 day(s) ago
Business
- Includes: Building & Land, See Remarks
Interior
- Flooring: Concrete, Laminate, Tile, Wood
Rooms
Bathrooms
- Total Bathrooms: 3
- Restrooms: 5
Additional Information
- Equipment: See Remarks, Smoke Detector
Parking
- Parking: Circular, Crushed Stone, Off-Street Parking, Parking Lot-Exclusive
Location
- County: Sussex
- Driving Directions: Route 23 Franklin
- Location Details: Highway Location
Heating & Cooling
- Cooling Type: See Remarks
- Heating Type: 4+ Units
- Heating Fuel: Natural Gas, Oil Tank Above Ground - Outside
Utilities
- Sewer: Public Sewer
- Water: Well
- Utility Description: Electric, Natural Gas, See Remarks
Structural Information
- Construction: Brick/Block, Wood
- Exterior Const.: Concrete, Vinyl Siding
- Basement: Yes
- Basement Desc.: Full, Unfinished, Walk-Out
- Roof: Asphalt Shingles
- Ceiling Height: 13
- Door Dimensions: 13
- Loading: Drive-In Doors
- Bays: 3
- Stories in Building: 2
- Year Built: 1930
- Remodeled/Updated: 2023
Unit Information
- 1 Bedroom Units: 2
- 3 Bedroom Units: 1
- Units w/Full Bath: 3
Lot Features
- Lot Size (Acres): 0.31
- Lot Size: .313 AC
- Zoning: HC2
- Lot Description: Level Lot, Open Lot
Financial Considerations
- Assessment Amount: $538,500
- Land Assmt: $234,800
- Tax Amount: $13,981
- Tax Year: 2024
Disclosures and Reports
- Ownership: Fee Simple
- Documents Avail.: See Remarks
- APN: 2806-00102-0000-00011-0000-
- Block: 102
- Lot Number: 11
Listed by Kistle Realty, Llc.
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Schools
Schools serving 585 State Rt 23
School Districts:Wallkill Valley Regional School District, Franklin Borough School District
| Name | Grades | Distance |
|---|---|---|
Franklin Elementary School, Franklin, NJ 50 Washington Avenue, Franklin, NJ 07416 | PK-8 | 1.4 mi |
Wallkill Valley Reg High School 10 Grumm Road, Hardyston, NJ 07419 | 9-12 | 1.6 mi |
Disclaimer:
School attendance boundaries provided by Pitney Bowes and are for reference only. Contact the school directly to verify enrollment eligibility.
Price & Sales History for 585 State Rt 23
Date
Details
Price
Change
Source
1/06/2026
Listed
$575,000
—
MLS
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
Tax History
Tax History for 585 State Rt 23
Year
Property Taxes
Change
Tax Assessment
Change
2024
$13,981
-10%
$538,500
2%
2023
$15,610
4%
$526,800
-7%
2022
$15,023
3%
$566,200
59%
2021
$14,590
3%
$355,500
—
2020
$14,131
7%
$355,500
—
2018
$13,264
3%
$355,500
—
2017
$12,940
2%
$355,500
—
2016
$12,659
—
$355,500
—
2015
$12,695
-6%
$355,500
—
2019
$13,491
4%
$355,500
1%
2013
$12,995
—
$353,500
—
Disclaimer: Historical tax information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
Estimate the Cost
Estimate the Cost for 585 State Rt 23
585 State Rt 23, Franklin, NJ 07416 (MLS# 4003646) is a Commercial property. 585 State Rt 23 is currently listed for $575,000 and was received on January 06, 2026. Want to learn more about 585 State Rt 23? Do you have questions about finding other Commercial real estate for sale in Franklin? You can browse all Franklin real estate or contact a Coldwell Banker agent to request more information.

