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106 Somerset St 24,705 SF Vacant Office Building Garfield, NJ 07026 $2,585,888 ($104.67/SF)
Executive Summary
Investment Opportunity — Triangle Flex Building
Next to Passaic Street Station This one doesn't come around often. A true one of a kind, triangle shaped commercial building sitting directly next to the Passaic Street Train Station in Garfield, roughly 23,000 SF of flex space split into nine units. Location does a lot of the heavy lifting here. Transit at your doorstep, highway access close by, and a corridor that's actively developing around it. The building itself is flexible by design. Industrial, storage, logistics, office, retail, creative space. It can flex to whatever the market demands next. That's exactly what makes it a value-add play. Lease it up as-is, reposition it, or reimagine it entirely. This is a landlord's or investor's opportunity to buy something irreplaceable and shape what it becomes. Locations like this don't get built again. Bring your vision.
Next to Passaic Street Station This one doesn't come around often. A true one of a kind, triangle shaped commercial building sitting directly next to the Passaic Street Train Station in Garfield, roughly 23,000 SF of flex space split into nine units. Location does a lot of the heavy lifting here. Transit at your doorstep, highway access close by, and a corridor that's actively developing around it. The building itself is flexible by design. Industrial, storage, logistics, office, retail, creative space. It can flex to whatever the market demands next. That's exactly what makes it a value-add play. Lease it up as-is, reposition it, or reimagine it entirely. This is a landlord's or investor's opportunity to buy something irreplaceable and shape what it becomes. Locations like this don't get built again. Bring your vision.
Property Facts
Sale Type
Investment or Owner User
Property Type
Office
Building Size
24,705 SF
Building Class
C
Year Built
1920
Price
$2,585,888
Price Per SF
$104.67
Percent Leased
Vacant
Tenancy
Multiple
Building Height
2 Stories
Typical Floor Size
8,200 SF
Building FAR
2.98
Lot Size
0.19 AC
Opportunity Zone
Yes
Zoning
I, Garfield City - Industrial, Land use Industrial, Commercial
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Exceptionally walkable
90/100
Very drivable
80/100
Good public transit
70/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 21-00024-02-00027 | Improvements Assessment | $836,100 |
| Land Assessment | $263,900 | Total Assessment | $1,100,000 |
Property Taxes
Parcel Number
21-00024-02-00027
Land Assessment
$263,900
Improvements Assessment
$836,100
Total Assessment
$1,100,000
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Contact the Sale Advisor
106 Somerset St