Office Unit with Open
For Sale
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715 Somerset St Unit 202, Somerset, NJ 08873
Flexible office layout with private rooms, open work area, and dedicated public restrooms.
Property Size5,978 SF
Price / SF$0.27
Days on Market47
Property Features for 715 Somerset St Unit 202
General Information
Standard status
Active
Size
5,978 SF
Amenities
private rooms
open office area
separate public male and female bathrooms
Building Details
Year Built
1900
Listing Agency:
EXP REALTY, LLC
Listed By:
PETER BOUTROS · License #300361
(201) 888-4908
Source:
Goldstandardrealty
Added: Sep 7
Changed: Oct 12
Last Checked: Oct 7 at 3:03PM
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.
Office Unit 202 at 715 Somerset St offers a practical arrangement of two private rooms alongside a primary open office area. The configuration can support enclosed offices, meeting space, workstations, or general office functions without relying on a single layout concept.
Separate public men’s and women’s restrooms serve the suite, with two stalls in each. The property is located in Franklin Township, NJ, within Somerset County’s commercial area. Built in 1900, the office unit combines defined rooms, adaptable open workspace, and dedicated bathroom facilities in one commercial setting.
Separate public men’s and women’s restrooms serve the suite, with two stalls in each. The property is located in Franklin Township, NJ, within Somerset County’s commercial area. Built in 1900, the office unit combines defined rooms, adaptable open workspace, and dedicated bathroom facilities in one commercial setting.
Key Highlights
- Two private rooms plus a main open office area
- Separate public men’s and women’s bathrooms
- Two stalls in each public bathroom
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
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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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Market
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Office unit - Flexible office layout with private rooms, open work area, and dedicated public restrooms.
Where is this office unit located?
The property is located at 715 Somerset St Unit 202 Somerset, NJ.
What are key features of this property?
This property features: Two private rooms plus a main open office area; Separate public men’s and women’s bathrooms; Two stalls in each public bathroom
