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214 Somerset St 7 Unit Apartment Building $4,185,600 CAD ($597,943 CAD/Unit) 6.17% Cap Rate North Plainfield, NJ 07060
INVESTMENT HIGHLIGHTS
- Building Size: 10,500 SF across 4 floors (~4,242 SF per floor)
- Property Type: Mixed-use with ground-floor restaurant and multi-family units above
- Income Potential: Combination of stable retail tenant and residential rental income
- Year Built: 2017 – modern construction
- Location: Prime North Plainfield address with strong visibility and accessibility
- Investment Appeal: Diversified revenue streams and long-term appreciation opportunity
EXECUTIVE SUMMARY
Built in 2017, this modern mixed-use building offers an excellent investment opportunity in the heart of North Plainfield. The property features 14,400SF across three floors (approximately 4,242 SF per floor) and is designed for versatility and long-term value.
Ground Floor: A fully built-out restaurant space, ideal for stable tenant income.
Upper Floors: 7 Multi-family residential units, providing consistent rental potential in a strong local housing market.
Building Details: 3 stories, contemporary construction, and efficient layouts designed to maximize useable space.
This property combines the benefits of retail exposure and multifamily income in one high-quality asset, making it well-suited for investors seeking both immediate cash flow and long-term appreciation.
Ground Floor: A fully built-out restaurant space, ideal for stable tenant income.
Upper Floors: 7 Multi-family residential units, providing consistent rental potential in a strong local housing market.
Building Details: 3 stories, contemporary construction, and efficient layouts designed to maximize useable space.
This property combines the benefits of retail exposure and multifamily income in one high-quality asset, making it well-suited for investors seeking both immediate cash flow and long-term appreciation.
DATA ROOM Click Here to Access
PROPERTY FACTS
| Price | $4,185,600 CAD | Apartment Style | Low-Rise |
| Price Per Unit | $597,943 CAD | Building Class | B |
| Sale Type | Investment | Lot Size | 0.14 AC |
| Cap Rate | 6.17% | Building Size | 19,280 SF |
| No. Units | 7 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 2017 |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Zoning | B-1 - Business | ||
| Price | $4,185,600 CAD |
| Price Per Unit | $597,943 CAD |
| Sale Type | Investment |
| Cap Rate | 6.17% |
| No. Units | 7 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 0.14 AC |
| Building Size | 19,280 SF |
| No. Stories | 3 |
| Year Built | 2017 |
| Opportunity Zone |
Yes |
| Zoning | B-1 - Business |
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Walk Score®
Very Walkable (89)
PROPERTY TAXES
| Parcel Number | 14-00083-0000-00002 | Improvements Assessment | $883,286 CAD |
| Land Assessment | $245,514 CAD | Total Assessment | $1,128,800 CAD |
PROPERTY TAXES
Parcel Number
14-00083-0000-00002
Land Assessment
$245,514 CAD
Improvements Assessment
$883,286 CAD
Total Assessment
$1,128,800 CAD
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214 Somerset St
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