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$ 1,950,000
Est. payment | /mo
2,500 SqFt
$ 1,950,000
Est. payment | /mo
2,500 SqFt
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 2,500 sqft
Price per Sqft $780
MLS Listing ID 4026337
Year Built 1910
Annual Tax Amount $20,706
Tax Year 2025
Lot Size 9,583 Sqft
Property Description
Investment opportunity in the heart of North Plainfield! 196 & 200 Somerset Street offer a rare chance to own two income-producing buildings with a total of 9 units on one oversized lot with ample on-site parking. A unique mixed-use asset with strong cash flow and future upside. 200 Somerset features a 4-unit residential building comprised of two studio apartments, one 1 bedroom & one 2-bedroom duplex unit with basement. 196 Somerset includes a street-level liquor store with four additional 1-bedroom apartments above, creating a diverse income stream with both commercial and residential tenants.Positioned on a large lot in a high-visibility location, this property offers approximately a 7.2% cap rate with locked-in commercial lease escalation beyond the pro forma, potential value-add and redevelopment opportunities for investors looking to maximize the site's long-term potential. Whether you're seeking steady cash flow, mixed-use exposure, or future development possibilities, this is a rare portfolio-style offering in a growing Somerset County corridor. Perfect for investors, developers, or owner-operators looking to secure a high-demand mixed-use property with existing income and upside potential.
Location
State NJ
County Somerset
Zoning B1
Rooms
Basement Walkout
Interior
Heating Gas-Natural
Cooling Window A/C(s)
Equipment See Remarks
Heat Source Gas-Natural
Exterior
Exterior Feature Aluminum
Utilities Available Gas-Natural
Roof Type Asphalt Shingle
Garage No
Building
Story 3
Sewer Public Sewer
Water Public Water
Others
Ownership Fee Simple
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Listed by SIGNATURE REALTY NJ
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