Flex Space with Overhead
For Sale
$750,000
19 Meadow St, Somerville, NJ 08876
Commercial building combining warehouse capacity, second-floor office space, secured fencing, and a gated entry.
Property Size2,500 SF
Lot Size0.33 Acres
Price / SF$300
Days on Market586
Property Features for 19 Meadow St
General Information
Standard status
Active
Size
2,500 SF
Lot size
0.33 Acres
Property subtype
Commercial
Zoning
B-2
Warehouse & Industrial
Clear Height
24 ft
Office Build-Out
600 SF
Additional Details
Asking Price
$750,000
Fenced Yard
Yes
Taxes and HOA fees
Annual Taxes
$18,219
Amenities
Central air
Metal Roof
1 Unit Cooling
2 Units Heating
Forced Hot Air Heating
Hard Surface
Multi-Zone Cooling
Building Details
Year Built
1960
Buildings
1
Building Size
2,500 SF
Listing Agency:
BHHS FOX & ROACH
(732) 469-1515
Listed By:
TIM DELUCCIA · License #8243435
Source:
Corcoran
Added: Jan 13, 2025
Changed: Aug 22
Last Checked: Aug 22 at 3:44AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of BHHS FOX & ROACH
Investment Insights
Based on property information with market context.
This flex property contains 2,500 SF of building area on an approximately 1/3-acre lot. The layout includes warehouse space with a 24-foot ceiling, two 12-foot overhead doors, and a 600 SF office area on the second floor. A newer roof and HVAC system are among the building improvements, while the site is enclosed by fencing and accessed through a 20-foot roll-back gate. Constructed in 1960, the property is designated B-2 and includes both warehouse and office components.
The property is located at 19 Meadow St in Somerville Boro, New Jersey. It is identified as being within a flood zone and redevelopment zone. Township approval will be required for any change of use.
The property is located at 19 Meadow St in Somerville Boro, New Jersey. It is identified as being within a flood zone and redevelopment zone. Township approval will be required for any change of use.
Key Highlights
- 2,500 SF commercial building on approximately 1/3 acre
- Warehouse area features a 24' ceiling and two 12' overhead doors
- 600 SF second‑floor office space
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$37,510
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.00%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$750,200
$750.2K
Cap Rate 7%
$535,857
$535.9K
Cap Rate 9%
$416,778
$416.8K
Market Conditions
NOI Build-Up for 2,500 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$63.0K $25.20/SF
− Vacancy
−$5.3K −$2.12/SF
EGI
$57.7K $23.08/SF
− OpEx
−$20.2K −$8.08/SF
NOI
$37.5K $15.00/SF
Area
Somerset County, NJ
Vacancy
8.40%
Lease Rate
$25.20 /SF/Yr
Expense Ratio
35.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$750,200
Cap Rate 7%
$535,857
Cap Rate 9%
$416,778
Alternative Uses
Best Use
Flex RnD
$535.9K
$468.9K – $625.2K
NOI $37,510 @ 7.0% cap · market cap 5.00%
Second Best
Warehouse
$486.8K
$425.9K – $567.9K
NOI $34,074 @ 7.0% cap · market cap 4.54%
Theoretical Best
Office A
$652.8K
$571.2K – $761.6K
NOI $45,696 @ 7.0% cap · market cap 6.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
24 ft
Clear height
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
1,611
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 08876, NJ
22,849
Population
9,717
Households
2.4
Avg Household Size
40
Median Age
56%
College-Educated
94%
High-School Grad
16.0 sq mi
ZIP Area
1,428
Density / Sq Mi
$120,823
Median Household Income
$70,464
Median Earnings
$1,776
Median Rent
$468,400
Median Home Value
Market
Vacancy Rate% for Industrial in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Commercial building combining warehouse capacity, second-floor office space, secured fencing, and a gated entry.
Where is this flex space located?
The property is located at 19 Meadow St Somerville, NJ.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: 2,500 SF commercial building on approximately 1/3 acre; Warehouse area features a 24' ceiling and two 12' overhead doors; 600 SF second‑floor office space
