Office Unit With Open
For Sale
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715 Somerset St Unit 201, Somerset, NJ 08873
Flexible office layout combines enclosed rooms, open work area, and separate public restrooms.
Property Size5,978 SF
Price / SF$0.27
Days on Market48
Property Features for 715 Somerset St Unit 201
General Information
Standard status
Active
Size
5,978 SF
Building Details
Year Built
1900
Listing Agency:
EXP REALTY, LLC
Listed By:
PETER BOUTROS · License #300361
(201) 888-4908
Source:
Luminancerealty
Added: Sep 9
Changed: Oct 25
Last Checked: Oct 5 at 11:45PM
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 EXP REALTY, LLC
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Investment Insights
Based on property information with market context.
This 5,978-square-foot office unit offers a combination of enclosed and open workspace within a commercial building constructed in 1900. The interior includes two private rooms, a primary open office area, and separate public restrooms for men and women, with two stalls in each restroom.
Located at 715 Somerset St Unit 201 in Franklin Township, New Jersey, the property is positioned in a commercial area of Somerset County. The layout supports a range of office configurations, including private workrooms, meeting space, and workstation areas, subject to the user's needs.
Located at 715 Somerset St Unit 201 in Franklin Township, New Jersey, the property is positioned in a commercial area of Somerset County. The layout supports a range of office configurations, including private workrooms, meeting space, and workstation areas, subject to the user's needs.
Key Highlights
- 5,978‑square‑foot office unit
- Two private rooms plus a main open office area
- Separate public men's and women's restrooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$91,463
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,829,260
$1.8M
Cap Rate 7%
$1,306,614
$1.3M
Cap Rate 9%
$1,016,256
$1.0M
Market Conditions
NOI Build-Up for 5,978 SF
Gross rent
$179.3K $30.00/SF
− Vacancy
−$57.4K −$9.60/SF
EGI
$122.0K $20.40/SF
− OpEx
−$30.5K −$5.10/SF
NOI
$91.5K $15.30/SF
Area
Somerset County, NJ
Vacancy
32.00%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,829,260
Cap Rate 7%
$1,306,614
Cap Rate 9%
$1,016,256
Alternative Uses
Best Use
Office B
$1.31M
$1.14M – $1.52M
NOI $91,463 @ 7.0% cap · market cap 5,716.44%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.56M
$1.37M – $1.82M
NOI $109,268 @ 7.0% cap · market cap 6,829.25%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
146
Businesses Nearby
Explore this area
Business Placement
Demographics for 08873, NJ
55,500
Population
22,142
Households
2.5
Avg Household Size
42
Median Age
54%
College-Educated
93%
High-School Grad
32.1 sq mi
ZIP Area
1,729
Density / Sq Mi
$117,866
Median Household Income
$61,727
Median Earnings
$1,942
Median Rent
$438,600
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Office unit - Flexible office layout combines enclosed rooms, open work area, and separate public restrooms.
Where is this office unit located?
The property is located at 715 Somerset St Unit 201 Somerset, NJ.
What are key features of this property?
This property features: 5,978‑square‑foot office unit; Two private rooms plus a main open office area; Separate public men's and women's restrooms
