54 Grv St Ste 1a Somerville, NJ 08876-1932
- Office Properties & Spaces
- 0.15 lot acres
Current Use by Public Records
- Office Properties & Spaces
Property Details for 54 Grv St Ste 1a
- Lot size
- 0.15 lot acres
- Zone code
- PO-R
- Property type
- Office Properties & Spaces
- APN
- 18 00071- 01-00001
- APU
- 18000710100001
Description
This meticulously maintained 1,250 square foot executive office suite presents a fantastic opportunity in the heart of Somerville, New Jersey. Located just one block from the Somerset County Courthouse and Main Street's vibrant downtown, this property boasts an ideal location for professionals seeking high visibility and convenient access to essential services. The suite features a welcoming reception area, three private offices providing ample space for individual work or team collaboration, and a spacious conference room perfect for meetings and presentations. A dedicated four-person administrative area ensures efficient workflow, while a convenient kitchenette adds to the functionality of the space. The property also includes a full basement offering a substantial dedicated file/storage area, addressing the need for secure document management and additional storage. Parking is readily available with 24 spaces in a dedicated lot. The asking price is $269,800, translating to a price per square foot of $215.84. This well-appointed office suite is ready for immediate occupancy and represents an excellent investment in a thriving downtown location. The property is situated at 54 Grove Street, Somerville, NJ 08876, within Somerset County.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $280,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $360,000
- 6.5%
- $325,000
- 7%
- $305,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $345,000
- Geo Method
- $340,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $355,000
- Retail
- $300,000
- Mixed-Use
- $350,000
- Hospitality
- $280,000
- Educational
- $290,000
- Residential Income
- $340,000
- Energy
- $355,000
- Income-Based Land
- $340,000
- Food Service
- $330,000
Location Insight
- Map
- Local Demand
- City
- Somerville
- County
- Somerset
- State
- New Jersey
- Longitude
- -74.609
- Latitude
- 40.5697
- CBSA code
- 35620
- CBSA name
- NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA