Property profile

490 Hamilton St Somerset, NJ 08873

OFF-MARKET
Commercial real estate
Property ID
US59-0907213
1,825 SF 0.15 ac lot Built 1925
Entity Owned 1-yr Hold ~ Est. High Equity
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Property summary

AI-generated overview

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 profile

Verified
Property type Commercial real estate
Use group COMMERCIAL (GENERAL)
Year built 1925
Construction FRAME
Total area 1,825 SF
Lot 0.15 ac (6,666 SF)
Zoning code HBD
APN 08 00183-0000-00006
UPID US59-0907213

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Location

490 Hamilton St Somerset, NJ 08873-2664
Somerset metro Census 53300 NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA
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Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$455k
CAP Approach CAP
$470k
Comparable Approach Comparable
$541k
Blend (final) Blend
$490k

Owner & transaction history

since 2025
Last sale
$526,000
7 recorded transactions
2025
$526,000
2023
$435,000
2012
$135,000
2012
$1,000
2006
$335,000
1969
Price N/A
1969
Price N/A

Zoning & alternative use

HBD · Somerset, NJ

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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