Eggerts Crossing Rd - Dev Site 280 Eggerts Crossing Rd Immeuble residentiel 2 lots 562 445 € (281 222 €/Lot) Lawrence, NJ 08648

Investor & Builder Alert – 1.73 Acres with Development Potential Near Central Park & Rider University 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. 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. **The owner lives there and does not operate a business**
Three 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 $850K+ per unit
-Estimated ROI of ~18–25% based on recent comps, build costs, and land price
Valuation Logic for List Price
Pricing Method: Residual Land Value Model
Developer All-in Cost: ~$3.6M incl. $600K land
Gross Sales Revenue: $4.25M
Profit Margin: ~$650K net / 18.2% ROI