Financial
Distress signals
Property profile

2 Park Ave Somerville, NJ 08876

FOR SALE
Commercial real estate
Property ID
US59-1345140
0.39 ac lot
Last sale May 2025 · $560,000
Entity Owned Owner of record is a legal entity (LLC / corporation). 1-yr Hold Held for 1 years. Free & Clear No active or open recorded mortgage detected.
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Property summary

AI-generated overview

This exceptional free-standing commercial office building presents a rare opportunity in the heart of Somerville, NJ. Located just one block from Main Street and the Somerset County Court and Administration Complex, this property enjoys unparalleled visibility and accessibility. The building boasts 4,000 square feet of usable space within a single-story brick structure, offering a functional and attractive layout. Ample parking is provided with a 17-car lot, ensuring convenience for…

Ownership intelligence

Who controls the opportunity?

Owner of record from public deeds, plus portfolio, hold profile and investor signals where the data supports them. In the full report.

Owner contacts

Can we reach the decision maker?

Skip-traced phones and e-mails of the owner. Included with the full report.

Mortgages

What is owed, to whom, and when it comes due

Recorded lenders, amounts and estimated maturities of the owner's loan book — in the full report.

Property tax · 2022

What does the county charge?
$9k
Tax billed · 2022
Assessed value · 2023$250k
Assessed land$175k
Assessed improvement$75k
Effective rate3.76%

Value estimate

· Sep 2026
$520k
$468k – $572k
AI approach$515k
NOI build-up
Gross scheduled income$120k
Vacancy & credit loss−$38k
Operating expenses−$20k
NOI · 8.74% cap applied$61k

Realmo valuation models over county records.

Recently sold

What actually traded nearby?
$181/SF
ZIP average, outlier-cleaned · 59 recorded sales of this use type
Observed band · Q1–Q3$144 – $233

Cap rate analysis

How does the asset earn?
8.74%
$61k estimated NOI · market benchmarks for this use type

Price anchors at 6 / 6.5 / 7% — in the full report.

Zoning insight

What can be built here?
PO-R
The intent of this zone is to promote professional office and residential district uses
General categoryRESIDENTIAL
JurisdictionSOMERSET

Location intelligence

Which uses thrive at this corner?
Best fit: Storage Facility
Demand heat for this use is drawn on the map · LocInt grid
Demand index
Storage Facility10.0
Furniture Store9.9
Garden Center9.6

Location

2 Park Ave Somerville, NJ 08876
County assessor Recorded deeds · 3 transfers Qualifying comp sales · not on file Zoning catalog

Every figure names its source: public record, benchmark, or modeled. Coverage varies by property — thin data is stated as missing, never invented.

Comparables

6 recorded sales · 6 properties nearby
Recent sales nearby
6 recorded sales in this ZIP, last 8 years
Address Sale price Sold Size
177 High, Somerville, NJ 08876-1817 $535,000 Feb 2026 2,844 SF
3603 Us Hwy 22, Somerville, NJ 08876-3439 $900,000 Jul 2025 No data
3537 Us Hwy 22, Somerville, NJ 08876-3457 $1,892,000 Jun 2025 No data
80 Gaston, Somerville, NJ 08876-2425 $655,000 Jun 2025 No data
1062 Us Hwy 22, Somerville, NJ 08876-1759 $2,556,250 May 2025 1,260 SF
1050 Us Hwy 22, Somerville, NJ 08876-1759 $6,094,100 May 2025 No data
Sale prices and dates as our records hold them, one row per building. A deed can cover more of a building than the size shown, so read the price against the size rather than dividing one by the other.
Comparable nearby
6 properties of the same type nearby
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Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
More about this property
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