366 Somerset St - Apartments FOR SALE


New Brunswick, NJ 08901
$10,299,000 USD
908-247-1087
366 Somerset St, New Brunswick, NJ for Sale
$10,299,000 USD
Apartments - FOR SALE
1/11
null | 4.66% Cap Rate

366 Somerset St
New Brunswick, NJ 08901


HIGHLIGHTS

  • Located in a high-density, transit-served submarket with strong renter demand

OVERVIEW

366 Somerset Street in New Brunswick, New Jersey is a four-story, mixed-use investment property comprising 24 residential apartments and two ground-floor retail units, totaling approximately 35,200 square feet on a 0.37-acre urban parcel. The building offers a stabilized income profile with a blend of multifamily and commercial tenancy, positioned along the Somerset Street corridor in a dense, transit-oriented neighborhood just under one mile from the New Brunswick NJ Transit station. The asset benefits from strong surrounding demographics and proximity to major employment and institutional drivers, including downtown New Brunswick and Rutgers University, while its scale and zoning support continued residential demand and long-term rental growth potential. All units are two bedroom, one bath. Parking for 12 vehicles. Opportunity Zone.

FOR SALE DETAILS

PRICE

$10,299,000 USD

PRICE/SF

$293 USD /SF

# OF UNITS

24

PRICE/UNIT

$429,125

CAP RATE

4.66%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Mid-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

4

YEAR BUILT

2019

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.37 AC

LAND SF

16,117 SF

ZONING

C-2A

APN/PARCEL ID

13-00425-0000-00014-01

ASK ABOUT THIS PROPERTY

James DuffyDavis CommercialMore Info
908-247-1087

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James DuffyDavis CommercialMore Info
908-247-1087

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.