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    490 Hamilton St Somerset, NJ 08873

    For Sale
    $510,000

    High-yield multi-unit building, great location.

    Property size:
    1,980 SF

    Description

    Added:
    Feb 3, 2025
    Days on Market:
    308
    This exceptional investment opportunity in Somerset, NJ, presents a 1,980 square foot multi-unit building situated on a 0.15-acre lot. The property features a detached two-car garage, providing ample parking. Currently, the second floor is occupied by a tenant paying a monthly rent of $2,300, generating a strong cash flow. The first floor, previously used as an office space, is currently vacant, offering significant potential for additional income. The building boasts a central air and furnace system, both installed in 2007, ensuring efficient climate control. Separate utility meters for each unit simplify billing and management. The property is priced competitively to facilitate a swift sale. The large lot size offers additional possibilities for expansion or outdoor improvements. This property is ideal for investors seeking a high-return investment with immediate income generation and significant upside potential. The combination of a strong tenant, vacant space for lease, and desirable location makes this a truly compelling opportunity. Don't miss out on this chance to acquire a profitable and well-maintained multi-unit property in a thriving market.

    Property Features for 490 Hamilton St

    General Information

    Property type
    Other commercial real estate
    Square Feet
    1,980 SF
    Lot Size
    6,534 SF

    Building Details

    Year Built
    1970
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Map

    City
    Somerset
    County
    Somerset
    State
    New Jersey
    Longitude
    -74.46302
    Latitude
    40.49498

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    FAQs

    What type of property is this?
    Commercial real estate - High-yield multi-unit building, great location.
    Where is this commercial real estate located?
    The property is located at 490 Hamilton St Somerset, NJ.
    What is the asking price?
    The asking price for this property is $510,000.
    (609) 799-2022
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    490 Hamilton St Somerset, NJ 08873
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    Somerset, NJ 08873
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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
    490 Hamilton St Somerset, NJ 08873
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