625 Somerset St | Somerset, NJ 08873
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- LoopNet Team
625 Somerset St
Somerset, NJ 08873
Abs NNN | 2.5% Annual Bumps | 2025 Const · Office Property For Sale
INVESTMENT HIGHLIGHTS
- Absolute NNN Lease - CityMD offers a rare Absolute NNN lease with 2.50% annual rental increases throughout the term.
- Affluent Market - This asset caters to more than 250,000 residents making an average household income of $119K within a 5-mile radius of the site.
- High Traffic Counts - excellent access and visibility along Somerset St and sees over (~22,000 VPD) in front of the subject property.
- Corporate Guarantee - CityMD received an increase in the size of their guarantee in Nov. 2022 when they were acquired by VillageMD for $8.9 billion.
- Multi-Billion Dollar Industry - Urgent Care Centers Market size was valued at around $75.1 billion in 2023 and is expected to grow at a CAGR of 7.5%.
- NYC MSA - The subject property is located in the New York MSA which containing roughly 19.9 million people as of 2024
PROPERTY FACTS
Property Type
Office
Property Subtype
Medical
Property Size
3,500 sq ft
Costar Property Class
B
Year Built
2025
Tenancy
Single
Number of Floors
1
Typical Floor Size
3,500 sq ft
Plot ratio
0.15
Total Plot Size
0.53 ac
Use Class
RC
AMENITIES
- Wheelchair Accessible
- Air Conditioning
- Smoke Detector
PROPERTY TAXES
| Parcel Number | 08-00163-0000-00016 | Improvements Assessment | £0 |
| Land Assessment | £523,621 | Total Assessment | £523,621 |
PROPERTY TAXES
Parcel Number
08-00163-0000-00016
Land Assessment
£523,621
Improvements Assessment
£0
Total Assessment
£523,621
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