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97 Newport Ave 3,290 SF 100% Leased Retail Building Somerset, NJ 08873 $975,000 ($296.35/SF)
Executive Summary
Discover an outstanding investment opportunity with this fully renovated, income-generating building featuring four separate units. Each unit has been thoughtfully updated and is currently occupied, providing immediate and steady cash flow from day one. Perfectly situated in a prime, high-visibility location within a thriving commercial district, this property offers excellent exposure and long-term growth potential. Whether you're an investor seeking stable returns or looking to expand your portfolio, this building combines modern updates, strong tenancy, and a strategic location that make it a standout choice. Rent roll available upon request!
Financial Summary (Actual - 2024) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2024) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts Under Contract
Sale Type
Investment
Property Type
Retail
Property Subtype
Storefront Retail/Residential
Building Size
3,290 SF
Building Class
C
Year Built
1960
Price
$975,000
Price Per SF
$296.35
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Slab To Slab
14’
Building FAR
0.27
Lot Size
0.28 AC
Zoning
HDB
Parking
10 Spaces (3.13 Spaces per 1,000 SF Leased)
Frontage
38’ on Newport Ave
Walk Score®
Very Walkable (74)
Nearby Major Retailers
Property Taxes
| Parcel Number | 08-00156-0000-00047 | Total Assessment | $609,000 (2025) |
| Land Assessment | $200,000 (2025) | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $409,000 (2025) | Tax Year | 2024 |
Property Taxes
Parcel Number
08-00156-0000-00047
Land Assessment
$200,000 (2025)
Improvements Assessment
$409,000 (2025)
Total Assessment
$609,000 (2025)
Annual Taxes
($1) ($0.00/SF)
Tax Year
2024
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97 Newport Ave
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