Mixed-Use Property with
For Sale
$2,000,000
194 Somerset St, North Plainfield, NJ 07060
Two-building investment property combines residential apartments, a street-level liquor store, and on-site parking.
Property Size3,000 SF
Days on Market115
Property Features for 194 Somerset St
General Information
Standard status
Active
Size
3,000 SF
Property subtype
Commercial
Additional Details
Cap Rate
6%
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$18,281
Building Details
Building Size
3,000 SF
Year Built
1910
Buildings
2
Stories
3
Units
5
Tenancy
Multi
Listing Agency:
(908) 721-1613
Listed By:
STEPHANIE SOARES · License #1538120
Source:
Elliman
Added: May 9
Changed: Aug 31
Last Checked: Aug 31 at 3:14AM
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 STEPHANIE SOARES
Investment Insights
Based on property information with market context.
This mixed-use property comprises two buildings on an oversized lot with on-site parking. The residential component includes eight apartments: three one-bedroom units and one two-bedroom duplex in one building, plus four additional one-bedroom apartments above a street-level liquor store in the other. The configuration combines residential occupancy with a commercial storefront in a single asset.
Located in North Plainfield, the property was built in 1910 and has walkability and transit scores of 38 and 33, respectively. The offering is described with an approximately 6% cap rate and includes existing commercial and residential income streams. The site also presents redevelopment and value-add possibilities as stated in the property information.
Located in North Plainfield, the property was built in 1910 and has walkability and transit scores of 38 and 33, respectively. The offering is described with an approximately 6% cap rate and includes existing commercial and residential income streams. The site also presents redevelopment and value-add possibilities as stated in the property information.
Key Highlights
- Two mixed‑use buildings positioned on one oversized lot
- Eight apartments: three 1‑bedroom units, one 2‑bedroom duplex, and four additional 1‑bedroom units
- Street‑level liquor store with four apartments above
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,138
Businesses Nearby
Explore this area
Business Placement
Demographics for 07060, NJ
48,423
Population
16,154
Households
3
Avg Household Size
35
Median Age
22%
College-Educated
74%
High-School Grad
5.0 sq mi
ZIP Area
9,685
Density / Sq Mi
$72,882
Median Household Income
$32,867
Median Earnings
$1,629
Median Rent
$369,400
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Two-building investment property combines residential apartments, a street-level liquor store, and on-site parking.
Where is this mixed-use property located?
The property is located at 194 Somerset St North Plainfield, NJ.
What is the asking price?
The asking price for this property is $2,000,000.
What are key features of this property?
This property features: Two mixed‑use buildings positioned on one oversized lot; Eight apartments: three 1‑bedroom units, one 2‑bedroom duplex, and four additional 1‑bedroom units; Street‑level liquor store with four apartments above
