Offered At $650,000
✨ Key Features
- Lot Size: 1.73 acres (75,358 SF) – ideal for by-right 5-lot subdivision
- Zoning: R-2B Residential (single-family homes, plus conditional commercial options)
- Frontage: Curb cut access + wide flag lot design for internal driveway
- Utilities: Public water/sewer available nearby
- Topography: Flat and usable – minimal sitework needed
- Structure: Existing 6BR home and detached commercial garage
- Location: Near Rider University, TCNJ, Princeton, Rt 1 & 295
- Transit: Close to NJ Transit, SEPTA, and bus lines for commuters
- Revenue Potential: $4.25M in gross sales (5 new homes at $850K)
- Annual Taxes: $10,672 (2024)
280 Eggerts Crossing Rd – A Rare Opportunity For Builders, Investors, & Commercial Buyers
🏡 6 Beds | 4 Baths | Corner 1.73 Acres | Development Opp
Situated in a desirable pocket of Lawrence Township, this 1.73-acre parcel offers a rare opportunity for builders, investors, and commercial buyers looking to develop in a fast-growing, well-connected area of Mercer County. The property includes a 6-bedroom, 2 full bath, 2 half bath home totaling approximately 2,940 square feet. The existing residence is ripe for renovation, while a commercial-grade garage at the rear of the lot opens opportunities for contractor storage or a staging hub.
Your Dream Home Awaits!
Located directly behind Rider University and minutes from The College of New Jersey (TCNJ), Princeton, Route 1, and I-295, this site is ideally positioned for long-term appreciation and demand from academic, professional, and commuter buyer pools. Public utilities, a level topography, and ample frontage create ideal conditions for subdivision and new construction.
📞 Schedule your private showing today!
3 Development Scenarios Reviewed:
Scenario 1 – Renovate Existing Structure: Improve the 2,940 SF residence and garage for owner-occupant or income use.
Scenario 2 – Limited Commercial Reuse: Pursue conditional use approval for a childcare center, house of worship, or bed & breakfast (R-2B zoning permits these with Planning Board review).
Scenario 3 – Subdivide Into 5 Homes (Highest & Best Use):
- By-right development allowed under R-2B zoning (minimum 15,000 SF per lot)
- Proposed layout includes five 2,200–2,350 SF single-family homes
- Modern new construction could yield sales of $875K+ per unit
- Estimated ROI of ~20% based on recent comps, build costs, and land price
Valuation Logic for List Price
- Pricing Method: Residual Land Value Model
- Developer All-in Cost: ~$3.65M incl. $650K land
- Gross Sales Revenue: $4.375M
- Profit Margin: ~$736K net / 20.2% ROI
Site
House
Schedule Your Tour Today!