50 Drakestown Rd Mount Olive, NJ $ 2,900,000
50 Drakestown Rd
$ 2,900,000
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50 Drakestown Rd

Mount Olive, NJ, 07840
$ 2,900,000
Bedrooms-- Baths--

Monthly Estimate*

$ 17,856

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Commercial Property for sale in Mount Olive, NJ

for $2,900,000 with 14 half baths. This building was built in 1820 on a lot size of 35.09.

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.

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Commercial Active

Price

$ 2,900,000

Half Bath

14

Property Type

Commercial

Taxes

$ 32,614

Style

Lot Size

35.09

Year Built

1820

Town/City

Mount Olive

County/Region

Morris

MLS | Web ID

4006859

Features
General
Sewer Cesspool Private
Construction See Remarks Wood
Heating Multi-Zone Radiators - Hot Water See Remarks
Cooling No Cool
Utilities Electric See Remarks
Possession POT
Roof Flat Wood Shingle
Zoning Commercial
Year Built 1820
Township Mount Olive Twp.
Property Type See Remarks See Remarks
Tax Year 2024
Ownership Fee Simple
Location Residential Area Rural Area See Remarks
County Morris
Status Active
Directions 46W Right onto Drakestown Rd Turn right into driveway.
Number Of Units Total 28
Tax Annual Amount 32614
Drive 1 Car Width Blacktop Circular Paver Block
Leasable Area 0
Standard Status Active
Tax Assessed Value 963500
Town # 2327
Tax Lot 16
Farm Assessment No
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Interior
Basement Storage Unfinished
Flooring Carpeting Tile Wood
Fuel Type Oil Tank Below Ground Wood
Total Stories 3
Half Baths 14
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Exterior
Lot Features Open Lot Wooded Lot
Water Source See Remarks
Exterior Description Composition Shingle
Building Area Total 0
Lot Dimensions 35.09
Lot Size Acres 35.09
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* Excluded Features
List By
JESSICA CRAIG

Listing Agent

Coldwell Banker Realty

Broker

jessicacraig@realtyagent.com

Email

Affordability Calculator

$20,574
Per Month
87%
13%
0%
Monthly Principal & Interest
$17,856
Monthly Property Taxes
$2,718
Monthly Home Insurance
--
Default based on a 30-year fixed rate of 6.25% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
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Nearby
291163 Elementary School
291353 Middle School
Unknown High School High School
Pricing History
DatePricePrice ChangeDescription
1/27/2026$2,900,000 Listed Price

Map


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50 Drakestown Rd, Mount Olive, NJ, 07840 is a Commercial Property for sale at $2,900,000 with a lot size of 35.09. 50 Drakestown Rd was built in 1820. The property's zip code is 07840 which is in Mount Olive, NJ