Investment opportunity in the heart of North Plainfield! 196 & 200 Somerset Street offer a rare chance to own two income-producing buildings 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… Read More three 1-bedroom apartments plus one 2-bedroom duplex unit. 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 6% cap rate with 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 Read Less
Courtesy of SIGNATURE REALTY NJ.
Listing Snapshot
Days Online
39
Last Updated
Property Type
Other
Square Ft.
3,000
Lot Size
0.07 Acres
Year Built
1910
MLS Number
4026345
30 Days Snapshot Of 07060
$490k
-9%
(avg) sold price
14
+27%
homes sold
105
+38%
(avg) days on market
Snapshot
Area Map
Additional Details
Basement
Walkout, Yes
Building
Built in 1910, Renovated in 2020
Cooling
Window A/C(s)
Exterior Features
Brick/Block
Water Features
Public Water
Heating
Gas-Natural, Baseboard - Hotwater
Lot
Approximate Lot Size: 23X126, 0.07 acres
Property
3,000 sqft building, 5 units
Roof
Flat
Sewer
Public Sewer
Taxes
Annual Tax Amount: $18,281, Tax Rate: 4.543
Utilities
Gas-Natural
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All information contained herein deemed reliable but not guaranteed. Buyers should personally verify all information. GSMLS Data provided via Home Junction, Inc.
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