Move-In Ready Multi-Purpose Retail
1 Lamington Road Somerville, NJ 08876
For Sale
Contact for pricing
Move-in ready retail space in ADA-compliant condition with excellent on-site parking.
Property Size2,400 SF
Price / SF$374.58
Days on Market16
Property Features for 1 Lamington Road
General Information
- Standard status
- Active
- Size
- 2,400 SF
- Property subtype
- Retail
Building Details
- Year Built
- 1952
Listing Agency:
Coldwell Banker Commercial
(908) 874-8421
Listed By:
Kenneth Worden · License #NJ
Source:
Crexi
Added: Jul 9
Changed: Jul 23
Last Checked: Jul 24 at 6:05AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Coldwell Banker Commercial
Investment Insights
Based on property information with market context.
This move-in ready retail space is described as being in ADA-compliant condition and can be used for multiple purposes. The property is intended to support flexible occupancy, with the existing improvements positioned for immediate use.
The listing notes excellent on-site parking, which can be important for customer and employee access.
Additional details are available in the posted documents, including any further information relevant to potential uses.
The listing notes excellent on-site parking, which can be important for customer and employee access.
Additional details are available in the posted documents, including any further information relevant to potential uses.
Key Highlights
- Move‑in ready retail space in ADA‑compliant condition
- Year built: 1952
- Meets ADA requirements
Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $51.8k | $21.60 |
| − Vacancy | −$2.9k | −$1.21 |
| EGI | $48.9k | $20.39 |
| − OpEx | −$14.7k | −$6.12 |
| NOI | $34.3k | $14.27 |
2,400 SF · lease $21.60/SF/yr · vacancy 5.60% · expense 30.00%
Alternative Uses
Best Use
Retail
$489.4K
$428.2K – $570.9K
NOI $34,256 @ 7.0% cap · market cap 3.81%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$626.7K
$548.4K – $731.1K
NOI $43,868 @ 7.0% cap · market cap 4.88%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Retail space
FAQs
What type of property is this?
Retail space - Move-in ready retail space in ADA-compliant condition with excellent on-site parking.
Where is this retail space located?
The property is located at 1 Lamington Road Somerville, NJ.
What is the asking price?
The asking price for this property is $899,000.
What are key features of this property?
This property features: Move‑in ready retail space in ADA‑compliant condition; Year built: 1952; Meets ADA requirements
