57 4Th StSomerville, NJ 08876
- Industrial properties
- 0.77 AC
Property Details for 57 4Th St
- Construction
- CONCRETE BLOCKS
- Lot size
- 0.77 AC
- Zone code
- I-2
- Property type
- Industrial properties
- APN
- 18 00054-0000-00001
- APU
- 1800054000000001
Description
This exceptional investment opportunity presents a meticulously maintained 12,500-square-foot commercial building in Somerville, NJ. The property boasts a desirable blend of office and warehouse space, perfectly suited for both investors and owner-occupiers. The building features 12,500 square feet of space, including 4,000 square feet of warehouse area with 20-foot ceilings, drive-in, and tailboard loading capabilities. The office space is professionally designed and includes private offices, conference rooms, a bullpen area, and a cafeteria. Its location within an I-2 zone, designated for light industrial use, adds to its versatility. Currently leased to a tenant with excellent credit on a true triple-net lease until December 31, 2026, the property generates a net operating income (NOI) of $186,000, representing a 7.5% capitalization rate. This presents a strong return on investment, making it an ideal acquisition for investors seeking immediate cash flow. The potential for owner-occupancy in approximately two years further enhances its appeal. The building's clean and well-maintained condition underscores its high-quality construction and ongoing upkeep. This property offers a rare combination of income-generating potential and future owner-occupancy flexibility in a prime location.
Valuation
by Paperhouses methods
- Valuation date:
- Dec 11, 2024
-
CAP approach
- CAP return
- Valuation
- 6%
- $12,450,200
- 6.5%
- $11,492,500
- 7%
- $10,671,600
-
Comparable approach
- Method
- Valuation
- Relative Method
- $7,055,640
- Geo Method
- $7,055,640
-
Alternative Use
- Use
- Valuation
- Retail / Commercial
- $5,893,310
- Mixed-Use / Specialty
- $5,872,300
- Hospitality / Lodging
- $4,308,320
- Office
- $5,837,420
- Institutional / Educational
- $6,104,830
- Residential Income
- $7,142,650
- Multifamily
- $8,566,510
- Automotive / Energy
- $5,232,710
- Parking / Income-Based Land
- $1,805,740
- Restaurant / Food Service
- $3,054,230
- Healthcare / Senior Housing
- $6,021,940
Location Insight
- City
- Somerville
- County
- Somerset
- State
- New Jersey
- Latitude
- 40.5612
- Longitude
- -74.6109
- CBSA code
- 35620
- CBSA name
- NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
FAQs
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