147 Pierce St | Somerset, NJ 08873
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147 Pierce St
Somerset, NJ 08873
Retail Property For Sale
Executive Summary
Legacy Commercial is pleased to present The Shoppes at Pierce Street, which is a 37,778 SF
retail investment property located in Somerset/Franklin Twp, Somerset County, New Jersey.
The Shoppes at Pierce Street is a newly developed multi-tenant retail investment
opportunity comprised of three buildings, including a stand-alone Citizens Bank pad site.
Situated at the corner of Worlds Fair Drive & Pierce Street at a signalized intersection,
the subject benefits from its high visibility, proximity to 1000's of housing units, corporate
office parks and hotels. Built in 2008, the buildings are kept in excellent condition with
little to no deferred maintenance. Each tenant is signed to a NNN lease.
TENANT HIGHLIGHTS:
• 92% occupied by a mix of both retail and medical tenants.
• The tenant roster includes Citizens Bank, Subway, Somerset Pizza, Bright Smiles Dental,
Live Urgent Care, Stateside Restaurant, The Goddard School and more.
NET OPERATING INCOME: $902,108.70
IF YOU ARE INTERESTED IN RECEIVING THE FULL PACKAGE WITH FINANCIALS (RENT ROLL/OPERATING EXPENSES), WE WILL NEED A SIGNED CA/NDA. PLEASE SEE ATTACHED.
BUYERS AGENT SHALL BE RESPONSIBLE FOR BUYERS BROKER FEE.
retail investment property located in Somerset/Franklin Twp, Somerset County, New Jersey.
The Shoppes at Pierce Street is a newly developed multi-tenant retail investment
opportunity comprised of three buildings, including a stand-alone Citizens Bank pad site.
Situated at the corner of Worlds Fair Drive & Pierce Street at a signalized intersection,
the subject benefits from its high visibility, proximity to 1000's of housing units, corporate
office parks and hotels. Built in 2008, the buildings are kept in excellent condition with
little to no deferred maintenance. Each tenant is signed to a NNN lease.
TENANT HIGHLIGHTS:
• 92% occupied by a mix of both retail and medical tenants.
• The tenant roster includes Citizens Bank, Subway, Somerset Pizza, Bright Smiles Dental,
Live Urgent Care, Stateside Restaurant, The Goddard School and more.
NET OPERATING INCOME: $902,108.70
IF YOU ARE INTERESTED IN RECEIVING THE FULL PACKAGE WITH FINANCIALS (RENT ROLL/OPERATING EXPENSES), WE WILL NEED A SIGNED CA/NDA. PLEASE SEE ATTACHED.
BUYERS AGENT SHALL BE RESPONSIBLE FOR BUYERS BROKER FEE.
PROPERTY FACTS Under Contract
Sale Type
Investment
Property Type
Retail
Property Subtype
Retail
Building Size
37,778 SF
Year Built
2008
Price
£10,339,350
Price Per SF
£274
Net Initial Yield
7%
NOI
£723,755
Percent Leased
100%
Tenancy
Multiple
Number of Floors
1
Building FAR
0.19
Lot Size
4.50 AC
Zoning
M2
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