Building Details

Year Built 1910

Buildings 1

Stories 2

Tenancy Single

Listing Agency: KELLER WILLIAMS REALTY Show Phone

Listed By: THOMAS BENNETT Show Phone

Source: Corcoran

Added: Oct 29 Changed: Nov 1 Last Checked: Nov 1 at 6:01AM

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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 KELLER WILLIAMS REALTY

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Review the available facts, identify missing information and prepare questions for the agent.

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Investment Insights

Based on property information with market context.

Built in 1910, this two-floor property is currently configured for office and retail activity. The first level has multiple rooms, display areas, and windows, while the upper floor includes a kitchen and full bathroom. A walk-in vault measuring approximately 8' x 10' is also on site. The upper level may support residential use following updates.

VN zoning permits retail, office, and residential uses. The property includes 17 +- on-site parking spaces and a freestanding sign.

Key Highlights

• VN zoning permits retail, office, and residential uses
• Two floors currently configured for office and retail
• Upper floor has a kitchen and full bathroom

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$47,053

Cap Rate

5.23%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$941,060 $941.1K

Cap Rate 7%

$672,186 $672.2K

Cap Rate 9%

$522,811 $522.8K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,800 SF

Gross rent

$96.8K $34.56/SF

− Vacancy

−$21.5K −$7.67/SF

EGI

$75.3K $26.89/SF

− OpEx

−$28.2K −$10.08/SF

NOI

$47.1K $16.80/SF

Area

Somerset County, NJ

Vacancy

22.20%

Lease Rate

$34.56 /SF/Yr

Expense Ratio

37.50%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$941,060

Cap Rate 7%

$672,186

Cap Rate 9%

$522,811

Alternative Uses

Best Use

Mixed Use

$672.2K

$588.2K – $784.2K (±1% cap)

NOI $47,053 @ 7.0% cap · market cap 5.23%

Second Best

Office B

$612.0K

$535.5K – $714.0K (±1% cap)

NOI $42,840 @ 7.0% cap · market cap 4.76%

Theoretical Best

Office A

$731.1K

$639.8K – $853.0K (±1% cap)

NOI $51,180 @ 7.0% cap · market cap 5.69%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Simms Jewelers (Bike/Boat/Book/etc) Store

Suggested Use

Top Pick Parking Lot & Garage HVAC Service Electrical Service Plumbing Service (Bike/Boat/Book/etc) Store Grocery & Convenience Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Single-tenant

Tenancy

Location Intelligence

Trade Area within ½ mile

524

Businesses Nearby

Explore this area Business Placement

Demographics for 07921, NJ

7,733

Population

4,072

Households

1.9

Avg Household Size

49

Median Age

66%

College-Educated

98%

High-School Grad

18.4 sq mi

ZIP Area

420

Density / Sq Mi

$117,705

Median Household Income

$75,850

Median Earnings

$2,160

Median Rent

$431,000

Median Home Value

Market

Vacancy Rate% for Office in Northeast region

13.1% 2019

15.4% 2020

17.6% 2021

19.1% 2022

20.2% 2023

20.9% 2024

19.9% 2025

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Frequently Asked Questions

What type of property is this?

Mixed-use property - VN zoning allows retail, office, and residential uses.

Where is this mixed-use property located?

The property is located at 291 Main St Bedminster, NJ.

What is the asking price?

The asking price for this property is $899,900.

What are key features of this property?

This property features: VN zoning permits retail, office, and residential uses; Two floors currently configured for office and retail; Upper floor has a kitchen and full bathroom