Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    153 Somerset St New Brunswick, NJ 08901-1945

    • Residential income homes
    • 4,973 SF
    • 0.19 lot acres
    OFF-MARKET
    Value Estimations
    $860,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US59-1484464
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Residential income homes

    Property Details for 153 Somerset St

    Year built
    1892
    Construction
    FRAME
    Lot size
    0.19 lot acres
    Property size
    4,973 SF
    Zone code
    R-5A
    Property type
    Residential income homes
    Property subtype
    Small apartment buildings
    APN
    13 00049-0000-00016- 01
    APU
    130004900000001601

    Value Estimations

    based on Realmo’s proprietary methodology

    • Alternative Use

      Use
      Estimation
      APARTMENT HOUSE (5+ UNITS)
      $1,265,000
      Current use
      OFFICE BUILDING
      $1,415,000
      Change: +12% Conversion: Moderate
      COMMERCIAL (GENERAL)
      $1,045,000
      Change: -18% Conversion: Moderate

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    New Brunswick
    County
    Middlesex
    State
    New Jersey
    Longitude
    -74.4497
    Latitude
    40.4967
    CBSA code
    35620
    CBSA name
    NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2022
    $21,758
    $306,500
    $577,700
    $884,200
    -
    $306,500
    $577,700
    $884,200

    Comparable in this City

    • Value Estimation
      $5,155,000
      29,832 SF

      100 Hamilton St

      APARTMENT HOUSE (UNDER 5 UNITS) • 29,832 SF
      100 Hamilton St, New Brunswick, NJ 08901-4007
      View Details
    • Value Estimation
      $2,225,000
      14,135 SF

      276 Hamilton St

      APARTMENT HOUSE (UNDER 5 UNITS) • 14,135 SF
      276 Hamilton St, New Brunswick, NJ 08901-2379
      View Details
    • Value Estimation
      $2,100,000
      14,982 SF

      54 Hassart St

      APARTMENT HOUSE (UNDER 5 UNITS) • 14,982 SF
      54 Hassart St, New Brunswick, NJ 08901-2543
      View Details
    • Value Estimation
      $4,960,000
      20,600 SF

      10 Lndg Ln

      APARTMENT HOUSE (UNDER 5 UNITS) • 20,600 SF
      10 Lndg Ln, New Brunswick, NJ 08901-1070
      View Details
    • Value Estimation
      $745,000
      3,600 SF

      50 Richardson St

      APARTMENT HOUSE (UNDER 5 UNITS) • 3,600 SF
      50 Richardson St, New Brunswick, NJ 08901-1784
      View Details
    • Value Estimation by Request
      1,408 SF

      135 Somerset St

      APARTMENT HOUSE (UNDER 5 UNITS) • 1,408 SF
      135 Somerset St, New Brunswick, NJ 08901-2072
      View Details

    Similar Nearby for Sale

    • $1,550,000
      4,752 SF

      Fully Rented 18-Unit Rooming House

      18-unit rooming house, fully rented, high income, easy to manage.
      163 Livingston Ave, New Brunswick, NJ 08901
      View Details
    • $2,100,000

      Five-Unit Building For Sale

      Five-unit building available in New Brunswick City.
      49 Bayard St, New Brunswick, NJ 08901
      View Details
    • $1,550,000
      4,752 SF

      Fully Rented 18-Unit Rooming House

      18 units, fully rented, high income, easy to manage.
      163 Livingston Ave, New Brunswick, NJ 08901
      View Details
    • $595,000
      1,295 SF

      Luxury High-Rise Condo with Views

      Stunning 2-bed, 2-bath condo with city views and luxury amenities.
      1 Spring St, New Brunswick, NJ 08901
      View Details
    • $1,399,000
      2,196 SF

      New Brunswick Two-Family Property

      Two-family property in prime location with significant land.
      93 Easton Ave, New Brunswick, NJ 08901
      View Details
    • $1,540,000
      4,009 SF

      Corner Building in New Brunswick

      Mixed-use property with store, apartments, basement, and garage for sale.
      172 Hamilton St, New Brunswick, NJ 08901
      View Details

    Similar Nearby for Lease

    • $2,400 /Mo

      Updated Condo Near Rutgers

      Updated 2-bedroom condo in gated community, convenient location.
      1025 Dogwood Ct, New Brunswick, NJ 08901
      View Details
    • $9 SF/Yr
      5,503 SF

      New Brunswick Office Space Available

      Flexible Offices, Coworking & More
      37 Easton Ave, New Brunswick, NJ 08901
      View Details
    • Contact for pricing
      38,000 SF

      New Brunswick Industrial Portfolio

      Three Warehouses, 6.5 Acres, NJ
      107 How Ln, New Brunswick, NJ 08901
      View Details
    • $30 SF/Yr
      200 SF

      Prime Downtown Office Suite

      Newly renovated, 200 sq ft office
      142 Livingston Ave, New Brunswick, NJ 08901
      View Details
    • Contact for pricing
      3,200 SF

      Retail Space in Prime Location

      Retail space ideal for service tenants and fast casual cuisine.
      290 George St, New Brunswick, NJ 08901
      View Details
    • $32 SF/Yr
      1,500 SF

      Jersey Avenue Warehouse For Lease

      1,500 SF Industrial Warehouse, 5 Parking Spaces
      560-561 Jersey Ave, New Brunswick, NJ 08901
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    153 Somerset St
    New Brunswick, NJ 08901-1945
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.