510 Hamilton Street, Somerset, NJ
510 Hamilton Street | 84 Unit Residential Mixed-Use Asset with Residential & Retail Value Add
Marketing description
510 Hamilton Street presents a compelling mixed-use investment opportunity in Somerset, New Jersey, positioned along the New Brunswick/Somerset border and less than one mile from Rutgers University and the New Brunswick Train Station. Constructed in 2019, the property consists of approximately 84 residential apartment units above approximately 10,000 square feet of ground-floor retail/commercial space, offering investors a balanced income stream with both residential stability and commercial upside.
The residential component features a mix of studio, one-bedroom, one-bedroom with den, and two-bedroom units, benefiting from strong demand drivers including proximity to Rutgers University, Saint Peter’s University Hospital, Robert Wood Johnson University Hospital, Downtown New Brunswick, major employment centers, and regional transportation corridors. The property's location provides residents with convenient access to public transportation, nearby retail amenities, restaurants, schools, and major highways throughout Central New Jersey.
The ground-floor commercial component includes a 3,000 SF Korean BBQ grill tenant paying $79,104 annually, providing existing in-place commercial income. The remaining 7,000 SF vacant ground-floor commercial space provides excellent visibility and flexibility for a variety of retail, medical, daycare, fitness, professional office, or service-oriented uses. With approximately 10,000 square feet of street-level commercial space in total, the property offers significant potential to enhance overall income through lease-up, repositioning, or strategic tenant placement that complements the residential community and surrounding neighborhood.
510 Hamilton Street represents an opportunity to acquire a modern mixed-use asset in a dense and growing submarket with strong long-term fundamentals. The combination of residential rental demand, commercial leasing upside, proximity to New Brunswick and Rutgers, and convenient access to mass transit and major highways positions the property as a unique value-add investment opportunity in the Somerset/New Brunswick market.
Please call Wick Development Group LLC for additional information at 732-750-4444.
Investment highlights
- 84 residential apartment units above approximately 10,000 square feet of ground-floor retail/commercial space.
- Steps from Rutgers-New Brunswick Main Campus, Robert Wood Johnson Hospital, grocery stores, and restaurants.
- 1 mile from NJ Transit bus line 811 (Easton Ave. at Somerset St.) and NJ Transit New Brunswick Train Station.
- Spacious open floor plans with soundproof walls, energy-efficient heating/cooling, and stainless steel appliances.
- Underground garage and above-ground parking located in the rear and courtyard.
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