Somerville Medical Office Space
For Sale
Contact for pricing
80 N Gaston Ave N, Somerville, NJ 08876
Renovated medical office space in established Somerville location.
Property Size1,450 SF
Price / SF$2.28
Days on Market162
Property Features for 80 N Gaston Ave N
General Information
Standard status
Active
Size
1,450 SF
Building Details
Year Built
1974
Listing Agency:
ACE STREET REALTY
Listed By:
DESPINA MATTOS
(732) 993-9760
Source:
Thebansalteam
Added: May 14
Changed: Oct 9
Last Checked: Oct 7 at 12:53PM
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 ACE STREET REALTY
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Investment Insights
Based on property information with market context.
This 1450-square-foot medical office space is situated in an established area of Somerville, New Jersey. The location is characterized by a mix of healthcare providers, professional services, and residential neighborhoods. Proximity to downtown amenities, major roadways, and public transportation enhances convenience for both patients and staff. The setting is conducive to outpatient medical or related healthcare uses. The property features controlled access, a security system, signage, a reception area, air conditioning, and a smoke detector. It has been newly renovated.
Key Highlights
- Newly Renovated medical office space, ready for your practice.
- Convenient location near downtown, major roadways, and public transportation.
- Well‑established area surrounded by healthcare providers and residential neighborhoods.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$21,590
Suggested Prices Based on Cap Rates
Cap Rate 5%
$431,800
$431.8K
Cap Rate 7%
$308,429
$308.4K
Cap Rate 9%
$239,889
$239.9K
Market Conditions
NOI Build-Up for 1,450 SF
Gross rent
$38.3K $26.40/SF
− Vacancy
−$2.3K −$1.58/SF
EGI
$36.0K $24.82/SF
− OpEx
−$14.4K −$9.93/SF
NOI
$21.6K $14.89/SF
Area
Somerset County, NJ
Vacancy
6.00%
Lease Rate
$26.40 /SF/Yr
Expense Ratio
40.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$431,800
Cap Rate 7%
$308,429
Cap Rate 9%
$239,889
Alternative Uses
Best Use
Office B
$316.9K
$277.3K – $369.8K
NOI $22,185 @ 7.0% cap · market cap 672.27%
Second Best
Healthcare Medical
$308.4K
$269.9K – $359.8K
NOI $21,590 @ 7.0% cap · market cap 654.24%
Theoretical Best
Office A
$378.6K
$331.3K – $441.7K
NOI $26,504 @ 7.0% cap · market cap 803.15%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,871
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Northeast region
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Renovated medical office space in established Somerville location.
Where is this medical office space located?
The property is located at 80 N Gaston Ave N Somerville, NJ.
What are key features of this property?
This property features: Newly Renovated medical office space, ready for your practice.; Convenient location near downtown, major roadways, and public transportation.; Well‑established area surrounded by healthcare providers and residential neighborhoods.
