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    155 Somerset St North Plainfield, NJ 07060

    For Sale
    $4,900,000

    Redevelopment opportunity near transportation and government services.

    Lot size:
    0.28 Acres

    Property Features for 155 Somerset St

    General Information

    Lot size
    0.28 Acres

    Building Details

    Year built
    1857

    Source: KELLER WILLIAMS CITY VIEWS REALTY Agent JOE PEIXINHO

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Corner Property Near City Hall

    This corner property is located one block from the city hall and police station in North Plainfield. It is part of a Featured Redevelopment Project and will be Fast Tracked for approvals. The property can be redeveloped into 22 residential units on the second and third floors, while keeping the first floor for retail or professional use. There is potential to add additional space over the parking lot. The property is a 10-minute walk to the Plainfield train station. Zoning allows for residential or professional use. The property measures 105 feet on Somerset Street and 165 feet on Somerset Place, which is a dead end. 11 Somerset Place is part of the property. It is not in a flood zone and has easy access to Routes 22 and 28. On residential rents range from $2000 to $3000 monthly. No known environmental issues. The seller is willing to provide time for approvals. The property offers redevelopment potential for mixed-use purposes.
    Location Intelligence

    Current Use by Public Records

    Mixed-use properties

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    North Plainfield
    County
    Union
    State
    New Jersey
    Longitude
    -74.427657
    Latitude
    40.620294

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    FAQs

    What type of property is this?
    Mixed-use property - Redevelopment opportunity near transportation and government services.
    Where is this mixed-use property located?
    The property is located at 155 Somerset St North Plainfield, NJ.
    What is the asking price?
    The asking price for this property is $4,900,000.
    What are key features of this property?
    This property features: - Redevelopment potential for **22 residential units with ground floor retail/professional space** in a Featured Redevelopment Project.; - Fast-tracked approvals due to location near city hall/police station.; - Convenient location: **10-minute walk to Plainfield train station** and easy access to Rt 22/28.
    (201) 592-8900
    Request Owner's contact information
    155 Somerset St North Plainfield, NJ 07060
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    North Plainfield, NJ 07060
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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
    155 Somerset St North Plainfield, NJ 07060
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