Flex Space with
For Sale
$2,000,000
57 4th St #57, Somerville, NJ 08876
Professional office configuration paired with warehouse operations, loading access, and I-2 light-industrial zoning.
Property Size12,500 SF
Price / SF$160
Days on Market108
Property Features for 57 4th St #57
General Information
Standard status
Active
Size
12,500 SF
Total Parking Spaces
32
Property subtype
Commercial
Zoning
I-2
Lease Type
Net
Net Operating Income
$186,000
Warehouse & Industrial
Clear Height
20 ft
Warehouse Space
4,000 SF
Additional Details
Cap Rate
7.5%
Amenities
private offices
conference rooms
bullpen area
cafeteria
warehouse with 20' ceilings
drive-in loading
tail board loading
Building Details
Building Size
12,500 SF
Year Built
1987
Buildings
1
Stories
1
Units
1
Tenancy
Single
Owner Occupied
No
Listing Agency:
Bhhs Fox & Roach
(732) 907-2901
Listed By:
Tim Deluccia · License #8243435
(732) 907-2901
Source:
Betterhomerealestate
Added: May 15
Changed: Aug 29
Last Checked: Aug 29 at 7:15PM
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.
Built in 1987, this flex property combines a 12,500-square-foot office building with an additional 4,000-square-foot warehouse area. The office component includes private offices, conference rooms, an open bullpen area, and a cafeteria. Warehouse improvements feature 20-foot ceilings, a drive-in door, and tailboard loading, supporting a range of light-industrial operations within the I-2 zoning district.
The property at 57 4th St #57 in Somerville Boro, New Jersey, is presently leased through December 31, 2026 under a true triple-net lease. The asset may also accommodate future owner occupancy after the current lease term, as identified in the property information.
The property at 57 4th St #57 in Somerville Boro, New Jersey, is presently leased through December 31, 2026 under a true triple-net lease. The asset may also accommodate future owner occupancy after the current lease term, as identified in the property information.
Key Highlights
- 12,500 SF office building with 4,000 SF warehouse space
- Warehouse includes 20 ' ceilings, drive‑in loading, and tailboard loading
- I‑2 zoning for light industrial use
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
$170,368
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
8.52%
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%
$3,407,360
$3.4M
Cap Rate 7%
$2,433,829
$2.4M
Cap Rate 9%
$1,892,978
$1.9M
Market Conditions
NOI Build-Up for 12,500 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
$213.0K $17.04/SF
− Vacancy
−$12.6K −$1.01/SF
EGI
$200.4K $16.03/SF
− OpEx
−$30.1K −$2.41/SF
NOI
$170.4K $13.63/SF
Area
Somerset County, NJ
Vacancy
5.90%
Lease Rate
$17.04 /SF/Yr
Expense Ratio
15.00%
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%
$3,407,360
Cap Rate 7%
$2,433,829
Cap Rate 9%
$1,892,978
Alternative Uses
Best Use
Office B
$2.73M
$2.39M – $3.19M
NOI $191,250 @ 7.0% cap · market cap 9.56%
Second Best
Flex RnD
$2.68M
$2.34M – $3.13M
NOI $187,551 @ 7.0% cap · market cap 9.38%
Theoretical Best
Office A
$3.26M
$2.86M – $3.81M
NOI $228,480 @ 7.0% cap · market cap 11.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
20 ft
Clear height
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
933
Businesses Nearby
Balanced
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 Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Professional office configuration paired with warehouse operations, loading access, and I-2 light-industrial zoning.
Where is this flex space located?
The property is located at 57 4th St #57 Somerville, 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: 12,500 SF office building with 4,000 SF warehouse space; Warehouse includes 20 ' ceilings, drive‑in loading, and tailboard loading; I‑2 zoning for light industrial use
