Address
561 Somerset St Franklin Twp., NJ
Price
$ 530,000
Property Attributes
  • ID#3758147
  • TypeCommercial
  • CountySOMERSET
  • CityFranklin Twp.
  • AreaFranklin Twp.
  • Zip08873
  • StyleStrip/Shopping Center
  • Year Built1930
  • Taxes$ 8576
  • Price$ 530,000
  • Bedrooms0
  • Full Bathrooms0
  • Half Bathrooms3
  • Sqr Footage2550
  • Lot Size5,663 SqFt
Listing Provided Courtesy Of:
TVERDOV REALTY LLC
Data Source:
Garden State MLS (GSMLS)
Property Description

Fantastic opportunity to own a fully rented retail building on the busy Somerset St! Listed at a 6 cap - This one level corner property features three stores: a salon, a party store and a retail shop. Two of the units are rented out through 2026 and one is rented out through 2024. Just sit back and collect the rent. Tenants pay ALL utilities. All spaces have basements. Owner gets reimbursed for water monthly. In the back is enough parking for 8-10 cars. An opportunity to own a turnkey commercial property! Pro Forma and Leases available upon request. NOI is almost $31,000 a year.

Price History
1/7/2022 Listed $530,000

General Features

Basement Unfinished
Construction Brick/Block
Cooling Wall A/C Unit(s)
Drive Hard Surface
Flooring Laminate
Garage Spaces 10
Heating 3 Units
Property Type Strip/Shopping Center
Property Type Office/Retail, Strip/Shopping Center
Roof Flat
Sewer Public Sewer
Tax Annual Amount 8576
Total Units 3
Town # 2708
Township Franklin Twp.
Utilities Gas In Street
Zoning RC

Interior Features

Fuel Type Gas-Natural

Exterior Features

Building Area Total 2550
Exterior Description Brick/Block
Lot Dimensions 50X116 AVG
Lot Features Corner
Max Ceiling Height 9
Max Door Height 8
Total Parking 10
Water Source Public Water

Amenities

  • Foreclosure
  • Views
  • Short Sale
  • New Construction
  • Adult 55+
  • Lease To Own
  • No HOA Fees
  • Furnished
  • Primary On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Property vs Commercial Average in 08873

Price
AVG $480K
$530K
Taxes
AVG $56,374
$8,576
Visits
AVG 85
19
Year Built
AVG 1977
1930
Walkscore
AVG 41
72
Data Provided by Walkscore ® not using MLS data

Looking for a more comfortable experience?

Download our mobile app for a personalized browsing experience.