Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    402 E 2Nd St Plainfield, NJ 07060

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $499,999

    Two-unit property near train station, ideal for commuters.

    Lot size:
    0.18 Acres

    Property Features for 402 E 2Nd St

    General Information

    Lot size
    0.18 Acres

    Building Details

    Year built
    1926

    We can help!

    Listing Contact
    ELMER ARROYO
    ELMER ARROYO
    Source: Elliman

    Listing Agency: BLUEXOMES Listing Agent: ELMER ARROYO

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

    Learn more

    Property Insight Report

    Overview

    Plainfield Two-Family Home Near Train

    This two-family home presents an investment opportunity in Plainfield, situated a few blocks from the train station, which provides direct access to Manhattan in approximately 45 minutes. The first unit features 7 rooms, including 3 bedrooms and 1 bathroom. The second unit includes 5 rooms, with 2 bedrooms, 1 bathroom, and a finished attic. The property also has a finished basement with a private entrance. The property is located in a prime commuter location and offers potential for rental income. The driveway is shared.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Casa del tio Apartment Complex

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Gym & Fitness Center Building Supply Daycare Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Plainfield
    County
    Somerset
    State
    New Jersey
    Longitude
    -74.41751
    Latitude
    40.62269

    Nearby Similar for Sale

    • $425,000
      1,044 SF

      Turnkey Storefront in Plainfield City

      Versatile commercial space in a high-traffic location near transit.
      1011 E 2Nd St, Plainfield, NJ 07062
      View Details
    • $65,000

      Plainfield City Retail/Distribution Business

      Established retail and distribution business opportunity in Plainfield City.
      1011 E 2Nd St, Plainfield, NJ 07062
      View Details
    • New
      $480,000
      2,000 SF

      Retail Space in Plainfield City

      2000 Sq Ft retail space in Plainfield City, NJ.
      331-35 Park Ave, Plainfield, NJ 07060
      View Details
    • $924,000
      Pending

      Plainfield Three-Family Home For Sale

      Three-unit residential income property in desirable Plainfield neighborhood, ideal for commuters.
      819-825 Kensington Ave, Plainfield, NJ 07060
      View Details
    • New
      $799,900
      Pending

      Updated Multi-Family Home with Pool

      Updated two-family home in Plainfield with in-ground pool.
      1627 Prospect Ave, Plainfield, NJ 07060
      View Details
    • $889,000
      Pending

      New Construction Multi-Family Home

      New construction duplex featuring modern amenities and convenient location.
      223 Monroe Ave, Plainfield, NJ 07063
      View Details
    • $500,000
      0.15 Acres

      North Plainfield Two-Family Home

      Well-maintained two-family home with strong rental potential.
      17 Grandview Ave, Plainfield, NJ 07060
      View Details
    • $799,000
      Pending

      Spacious Three-Family Home, Large Backyard

      Well-maintained three-family home in North Plainfield Boro, NJ.
      421 Tappan Ave, Plainfield, NJ 07063
      View Details
    • $749,000
      Pending

      Plainfield City Multi-Family Home

      Multi-family home in Historic Netherwood Heights, Plainfield City, NJ.
      810-814 Leland Ave, Plainfield, NJ 07062
      View Details
    • $1,099,000
      Pending

      Historic 6-Family Home Investment

      Charming 6-unit property in North Plainfield's Historic District.
      64 Washington Ave, Plainfield, NJ 07060
      View Details
    • $1,099,000
      Pending

      Historic 6-Family Home, Prime Location

      Charming 6-unit property in North Plainfield's Historic District.
      64 Washington Ave, Plainfield, NJ 07060
      View Details
    • $675,000
      Pending

      Plainfield City Multi-Family Property

      Multi-family property for sale in Plainfield City, New Jersey.
      954 W 4Th St, Plainfield, NJ 07063
      View Details

    FAQs

    What type of property is this?
    Duplex - Two-unit property near train station, ideal for commuters.
    Where is this duplex located?
    The property is located at 402 E 2Nd St Plainfield, NJ.
    What is the asking price?
    The asking price for this property is $499,999.
    What are key features of this property?
    This property features: - Prime commuter location in Plainfield, close to the train station.; - Direct train access to Manhattan in approximately 45 minutes.; - Two separate units: a **3-bedroom unit and a 2-bedroom unit with finished attic.**
    (732) 993-9565
    Request Owner's contact information
    402 E 2Nd St Plainfield, NJ 07060
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    402 E 2Nd St
    Plainfield, NJ 07060
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    402 E 2Nd St Plainfield, NJ 07060
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    ELMER ARROYO
    ELMER ARROYO
    (732) 993-9565 (732) 733-2393
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!