Somerville Office Building For
38 N Gaston Ave Somerville, NJ 08876
38 N Gaston Ave, Somerville, NJ, 08876
$599,000
For Sale
$599,000
3,000 SF office building in the heart of Somerville.
Property Size3,000 SF
Price / SF$199.67
Days on Market64
Property Features for 38 N Gaston Ave
General Information
- Standard status
- Active
- Size
- 3,000 SF
- Property subtype
- Commercial
Building Details
- Year Built
- 1989
Listing Agency
PREMIER HOMES
(908) 245-6767
Listed by
JUAN CARLOS JIJON REZA
Source
Corcoran
Added: May 15 Checked: Jul 17 at 2:26 am
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 PREMIER HOMES
Investment Insights
Based on property information with market context.
Located minutes from downtown Somerville, this 3,000 SF office building at 38 N. Gaston Ave offers flexibility and convenience. The property, zoned commercial, features two separate units, each with its own bathroom and kitchen. A full basement provides additional storage or future usable space. Thirteen dedicated parking spaces offer accessibility for employees and clients. The move-in ready building is situated near Main Street, NJ Transit, Routes 22 202/206, and I-287. It is suitable for professional offices, medical users, or service businesses and offers potential for owner-occupants, multi-tenant use, or investment.
Key Highlights
- Prime location in the heart of Somerville, minutes from downtown and near major transportation routes (NJ Transit, Routes 22/202/206, I‑287).
- 3,000 SF move‑in ready office building zoned commercial, suitable for various professional uses.
- Features 2 separate units, each with a bathroom and kitchen, offering flexibility for owner‑occupancy, multi‑tenant use, or investment.
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $90.0k | $30.00 |
| − Vacancy | −$28.8k | −$9.60 |
| EGI | $61.2k | $20.40 |
| − OpEx | −$15.3k | −$5.10 |
| NOI | $45.9k | $15.30 |
3,000 SF · lease $30.00/SF/yr · vacancy 32.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$655.7K
$573.8K – $765.0K
NOI $45,900 @ 7.0% cap · market cap 7.66%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$783.4K
$685.4K – $913.9K
NOI $54,835 @ 7.0% cap · market cap 9.15%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Office building - 3,000 SF office building in the heart of Somerville.
Where is this office building located?
The property is located at 38 N Gaston Ave Somerville, NJ.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: Prime location in the heart of Somerville, minutes from downtown and near major transportation routes (NJ Transit, Routes 22/202/206, I‑287).; **3,000 SF move‑in ready office building** zoned commercial, suitable for various professional uses.; Features 2 separate units, each with a bathroom and kitchen, offering flexibility for owner‑occupancy, multi‑tenant use, or investment.
