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Property profile & analytics

54 Grv St Ste 1a Somerville, NJ 08876-1932

  • Office Properties & Spaces
  • 0.15 lot acres
OFF-MARKET
Value Estimation
$300,000
Location Intelligence
Property ID
US59-0100199
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

  • 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

by Realmo proprietary methodology Last update: July 3, 2025
  • 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

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
$8,045
$107,300
$106,600
$213,900
-
$107,300
$106,600
$213,900
More about this property
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