201-217 Main St Somerville, NJ 08876
- Mixed-use properties
- 45,000 SF
Current Use by Public Records
- Mixed-use properties
Property Details for 201-217 Main St
- Year built
- 1890
- Property size
- 45,000 SF
- Property type
- Mixed-use properties
- Property subtype
- Land
Description
The Granetz Building, a four-story, 45,000-square-foot mixed-use property at 201-217 W Main St, Somerville, NJ 08876, presents a unique redevelopment opportunity. This distressed sale offers a 29,625-square-foot lot in a coveted location, just 0.4 miles from the Somerville Train Station. Built in 1890, the Class D building currently sits vacant with a $4,250,000 asking price ($94/sq ft). The property's B-2 Commercial & Special Improvement District zoning allows for significant flexibility in future development plans, with strong potential for either apartment or condominium projects. Its prime location in downtown Somerville, a thriving area with nearby national retailers like ShopRite, Chase, Starbucks, Walgreens, Bank of America, and Dunkin', ensures high visibility and accessibility. The building's history as a woolen mill and later a furniture store adds to its unique character and redevelopment potential. This is a highly motivated seller offering an as-is sale. The property's size and location make it an exceptional investment for future redevelopment. The building's 45,000 square feet of net rentable space offers significant potential for a transformative project.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Somerville
- County
- Somerset
- State
- New Jersey
- Longitude
- -74.6184
- Latitude
- 40.5702
