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    1345 Rt 202 Somerville, NJ 08853

    For Sale
    $299,000
    Added:
    Feb 3, 2025
    Days on Market:
    307

    Property Features for 1345 Rt 202

    General Information

    Property type
    Other commercial real estate
    Lot Size
    34,848 SF

    Building Details

    Year Built
    1935
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Map

    City
    Somerville
    County
    Somerset
    State
    New Jersey
    Longitude
    -74.72524
    Latitude
    40.55276

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    FAQs

    Where is this commercial real estate located?
    The property is located at 1345 Rt 202 Somerville, NJ.
    What is the asking price?
    The asking price for this property is $299,000.
    (732) 469-1515
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    1345 Rt 202 Somerville, NJ 08853
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    Somerville, NJ 08853
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1345 Rt 202 Somerville, NJ 08853
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