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$2,900,000 Just Listed
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Property Description
Unique commercially zoned property. 35.09 acres of improved land with an extensive array of existing structures and amenities. Due to Highlands regulations, further subdivision or redevelopment is restricted, making this ideal for a buyer seeking to rehabilitate, restore, or continue use of the existing improvements. At the heart of the property is a Victorian era residence showcasing historic craftsmanship. Home features fireplaces, hardwood flooring, stonework, and Victorian architectural details. An efficiency apartment within the main residence adds flexibility for on-site living or rental use. The expansive grounds include several multifamily residential buildings with rental potential, approx 24 one room cabins, and rec hall. The property features sheds, workshops & utility buildings, Additional amenities include designated trailer and RV sites with existing infrastructure, 6 established campsite pads with fire pits. Electric service throughout the grounds supporting a variety of recreational and operational uses including an inground pool with picnic area, hot tub, sun deck, volleyball & shuffleboard courts. The expansive layout and existing features provide flexibility for a variety of permitted uses, The property does require rehabilitation and is best suited for a buyer with vision who understands the value of improving and maintaining existing structures within the Highlands framework. A rare opportunity to acquire a large, improved tract with historic character.
Full Property Details
Full Property Details for 50 Drakestown Rd
General
- Price: $2,900,000
- Taxes: $32,614 (2024)
- Status: Active
- Type: Commercial
- Source: Garden_State
- MLS ID: 4006859
- Updated: 1/27/2026
- Added to Site: 2 day(s) ago
Business
- Includes: Building & Land, Equipment
Interior
- Flooring: Carpeting, Tile, Wood
Rooms
Bathrooms
- Total Bathrooms: 14
- Restrooms: 14
Additional Information
- Equipment: See Remarks
Exterior
- Color: Brown
Parking
- Parking: 1 Car Width, Blacktop, Circular, Paver Block
Location
- County: Morris
- Driving Directions: 46W Right onto Drakestown Rd, Turn right into driveway.
- Location Details: Residential Area, Rural Area, See Remarks
Heating & Cooling
- Cooling Type: No Cool
- Heating Type: Multi-Zone, Radiators - Hot Water, See Remarks
- Heating Fuel: Oil Tank Below Ground, Wood
Utilities
- Sewer: Cesspool, Private
- Water: See Remarks
- Utility Description: Electric, See Remarks
Structural Information
- Construction: See Remarks, Wood
- Exterior Const.: Composition Shingle
- Basement: Yes
- Basement Desc.: Storage, Unfinished
- Roof: Flat, Wood Shingle
- Ceiling Height: 12
- Door Dimensions: 8
- Loading: None
- Bays: 2
- Stories in Building: 3
- Previous Bldg. Use: Country Club
- Year Built: 1820
Lot Features
- Lot Size (Acres): 35.09
- Lot Size: 35.09
- Zoning: Commercial
- Lot Description: Open Lot, Wooded Lot
Financial Considerations
- Assessment Amount: $963,500
- Land Assmt: $300,000
- Tax Amount: $32,614
- Tax Year: 2024
- Pays Utilities: Other
Disclosures and Reports
- Ownership: Fee Simple
- Documents Avail.: Site Plan
- APN: 2327-08300-0000-00016-0000-
- Block: 8300
- Lot Number: 16
Buyer's Brokerage Compensation: Contact Listing Agent
Not binding unless confirmed by separate agreement among applicable parties.
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Schools
Schools serving 50 Drakestown Rd
School District:Mount Olive Township School District
| Name | Grades | Distance |
|---|---|---|
Sandshore Road Elementary School 498 Sandshore Road, Mount Olive, NJ 07828 | K-5 | 1.7 mi |
Mt Olive Middle School 160 Wolfe Road, Mount Olive, NJ 07828 | 6-8 | 2.8 mi |
Mt Olive High School 18 Corey Road, Mount Olive, NJ 07836 | 9-12 | 4.6 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 50 Drakestown Rd
Date
Details
Price
Change
Source
1/26/2026
Listed
$2,900,000
—
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 50 Drakestown Rd
Year
Property Taxes
Change
Tax Assessment
Change
2024
$129
7%
$3,800
—
2023
$121
-2%
$3,800
—
2022
$124
—
$3,800
—
2021
$124
—
$3,800
-3%
2021
$124
-9%
$3,900
-7%
2018
$137
1%
$4,200
—
2017
$135
3%
$4,200
—
2016
$131
1%
$4,200
—
2015
$130
-6%
$4,200
—
2019
$139
8%
$4,200
—
2013
$129
—
$4,200
—
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 50 Drakestown Rd
50 Drakestown Rd, Mount Olive, NJ 07840 (MLS# 4006859) is a Commercial property. 50 Drakestown Rd is currently listed for $2,900,000 and was received on January 26, 2026. This property is listed by Jessica Craig from our Chester Office.Want to learn more about 50 Drakestown Rd? Do you have questions about finding other Commercial real estate for sale in Mount Olive? You can browse all Mount Olive real estate or contact a Coldwell Banker agent to request more information.



