1. 118 W MAIN ST Market Positioning and Pricing Analysis
Somerville, NJ 08876

2. NON-ENDORSEMENT AND DISCLAIMER NOTICE
Non-Endorsements
Marcus & Millichap is not affiliated with, sponsored by, or endorsed by any commercial tenant or lessee identified in this marketing package. The presence of any corporation's logo or name is not intended to indicate or imply affiliation with, or sponsorship or endorsement by, said corporation of Marcus & Millichap, its affiliates or subsidiaries, or any agent, product, service, or commercial listing of Marcus & Millichap, and is solely included for the purpose of providing tenant lessee information about this listing to prospective customers.
ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY.
PLEASE CONSULT YOUR MARCUS & MILLICHAP AGENT FOR MORE DETAILS.
Disclaimer
THIS IS A BROKER PRICE OPINION OR COMPARATIVE MARKET ANALYSIS OF VALUE AND SHOULD NOT BE CONSIDERED AN APPRAISAL. This information has been secured from sources we believe to be reliable, but we make no representations or warranties, express or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2018 Marcus & Millichap. All rights reserved.
118 W MAIN ST
Somerville, NJ
ACT ID ZAA

3. PRESENTED BY Marc Karlin Associate
Associate Member - National Retail Group
New Jersey Office
Tel: (201)
Fax: (201)
License: NJ
Michael Lombardi
First Vice President Investments
Director - National Retail Group
New Jersey Office
Tel: (201)
Fax: (201)
License: NJ

4. 118 W MAIN ST
INVESTMENT
OVERVIEW

5. CURRENT MONTHLY INCOME
118 W MAIN STREET
OFFERING SUMMARY
EXECUTIVE SUMMARY
VITAL DATA
CURRENT
YEAR 1
Price
$1,950,000
CAP Rate
-1.25%
5.89%
Down Payment
100% / $1,950,000
Net Operating Income
($24,383)
$114,817
Loan Type
All Cash
Net Cash Flow After Debt Service
-1.25% / ($24,383)
5.89% / $114,817
Total Rentable SF
7,500
Total Return
Price/SF
$260.00
Year Built
1980
MAJOR EMPLOYERS
EMPLOYER
# OF EMPLOYEES
Marsh
6,783
Trigen Laboratories LLC
3,270
Pts Intermediate Holdings LLC
3,000
In Ventive Commercial Services
2,800
Ethicon Inc
2,500
MetLife
2,367
Janssen Research & Dev LLC
1,800
Sanofi
1,500
Aventis Inc
1,358
Bridgwtr-Rrtan Rgonal Schl Dst
1,200
Zentry LLC
Bridgewater Raritan Bd Educatn
1,000
UNIT MIX
UNIT COUNT
UNIT TYPE
AVG. SF
CURRENT AVG. RENTS
AVG. RENTS/SF
MONTHLY INCOME
POTENTIAL RENTS
AVG. RENTS/SF 2
2 Bedroom - 1 Bathroom
1,500 $0
$0.00
$2,300
$1.53
$4,600
SUITE COUNT
TYPE
TOTAL GLA
CURRENT RENT RANGE
CURRENT MONTHLY INCOME
PRO FORMA 1
Retail
4,500
$7,000
DEMOGRAPHICS
1-Miles
3-Miles
5-Miles
2018 Estimate Pop
12,454
56,740
118,416
2010 Census Pop
12,184
55,653
114,670
2018 Estimate HH
4,968
21,847
44,534
2010 Census HH
4,782
21,058
42,307
Median HH Income
$67,531
$81,283
$93,398
Per Capita Income
$36,948
$44,264
$49,536
Average HH Income
$91,357
$114,356
$131,305 #

6. 118 W MAIN STREET INVESTMENT OVERVIEW OFFERING SUMMARY
Marcus & Millichap is pleased to present 118 West Main Street, in Somerville, NJ. Somerville is located at the center of New Jersey and its transportation network, and has been called Downtown Somerset County. All major transportation routes pass through or near the Borough, NJT and Private buses, NJTs Raritan Valley line trains, Vehicle traffic use State Routes 28, 202 and 206, National Route 22 forms the northern boundary of the Borough while Interstate 287 parallels Route 22 and Interstate 78 is within 2 miles of the Borough. Somerville’s downtown is a thriving commercial district and community-gathering place for residents, shoppers and visitors from Somerville, Somerset County and Central New Jersey.
The subject property is currently a 100% occupied, 7,500 square foot mixed use building located on Main Street between the intersections Davenport Street and Union Street of downtown Somerville in Somerset County, NJ. The property holds 2 two bedroom apartments over a ground floor retail store and is currently fully owner occupied. Seller can deliver the property vacant or with a 2 year lease to give the new owner a smooth transition of ownership.118 West Main Street gives an investor a rare opportunity to acquire a well-maintained property in the heart of Somerville's booming downtown surrounded by shopping, entertainment, and only steps away from the Somerville Train Station.
Real Estate Taxes are approximately $18,983 per year. Estimated Gross Income is approximately $140,0000 per year.
The asking price is $1,950,000.
INVESTMENT HIGHLIGHTS
Great Demographics Average Household Income Over $127,000 and Over 120,000 People Within Five Miles.

7. 2019 – Five Redevelopment Areas
West Main Street Redevelopment Area
This area is bound by West Main Street, South Doughty Avenue, Veterans Memorial Drive, Union Street and Division Street.
Recently the Redevelopment Area was amended to include the properties along the North side of West Main Street and is bounded by Davenport Street and North Doughty Avenue.
The major portion of this area is currently under development and contains a world Class Shoprite supermarket, Chase Bank, 108 luxury apartments and retail store including Starbucks, weight watchers and the only Wolfgang’s Steakhouse outside a major world city.
2019 – Five Redevelopment Areas

8. 118 W MAIN ST
REGIONAL MAP

9. 118 W MAIN ST
LOCAL MAP

10. 118 W MAIN ST
AERIAL PHOTO

11. 118 W MAIN ST
PROPERTY PHOTO

13. 118 W MAIN ST
PROPERTY PHOTO

15. 118 W MAIN ST
MARKET
OVERVIEW

16. 2018 MEDIAN HOUSEHOLD INCOME:
118 W MAIN ST
CENTRAL NEW JERSEY
OVERVIEW
The Central New Jersey region is conveniently located near both the New York City metro and the Philadelphia metro and contains a well-developed interstate network and mass-transit opportunities. Consisting of Mercer, Middlesex, Monmouth, Ocean and Somerset counties, Central New Jersey includes more than 150 municipalities, and the city of Edison in Middlesex County is the largest. Mercer County is home to the state’s capital in Trenton and Princeton University in Princeton.
METRO HIGHLIGHTS
DIVERSIFYING EMPLOYMENT
The economy is diversifying from its manufacturing base to include energy, healthcare, pharmaceuticals, tourism, logistics and distribution.
EDUCATED LABOR FORCE
Roughly 40 percent of residents age 25 and older have a bachelor’s degree; of these, 16 percent also hold a graduate or professional degree.
HIGH BARRIERS TO ENTRY
Expensive land costs, dense development and strict governmental regulations moderate additional development.
ECONOMY
Many counties in the region consistently rank among the nation’s top 50 for per capita income. Elevated incomes produce strong retail sales and support a healthy service industry.
New Jersey is home to 20 Fortune 500 companies in diverse industries from healthcare to energy. Two Fortune 500 companies operate out of Central Jersey: Johnson & Johnson in New Brunswick, and NRG Energy in Princeton. Kinder Morgan also operates locally.
Amazon has a fulfillment center in Carteret in Middlesex County; the company has two facilities in the market, growing the region’s distribution sector.
DEMOGRAPHICS
2.8M
2018 POPULATION: 1M
2018 HOUSEHOLDS:
40.6
2018 MEDIAN AGE:
$83,200
2018 MEDIAN HOUSEHOLD INCOME:
U.S. Median:
38.0
$58,800
3.9%
Growth *:
3.0%
* Forecast
Sources: Marcus & Millichap Research Services; BLS; Bureau of Economic Analysis; Experian; Fortune; Moody’s Analytics; U.S. Census Bureau 1

17. 118 W MAIN ST PROPERTY NAME DEMOGRAPHICS MARKETING TEAM Population
Race and Ethnicity
In 2018, the population in your selected geography is 12,454. The population has changed by 3.01% since It is estimated that the population in your area will be 12, five years from now, which represents a change of -0.38% from the current year. The current population is 51.85% male and 48.15% female. The median age of the population in your area is 35.82, compare this to the US average which is The population density in your area is 3, people per square mile.
People of Hispanic origin make up 27.93% of the current year population in your selected area. Compare this to the US average of 18.01%.
Households
Housing
There are currently 4,968 households in your selected geography. The number of households has changed by 2.67% since It is estimated that the number of households in your area will be 5,024 five years from now, which represents a change of 1.13% from the current year. The average household size in your area is 2.43 persons.
The median housing value in your area was $311,521 in 2018, compare this to the US average of $201,842. In 2000, there were 2,118 owner occupied housing units in your area and there were 2,721 renter occupied housing units in your area. The median rent at the time was $736.
Income
Employment
The current year per capita income in your area is $36,948, compare this to the US average, which is $32,356. The current year average household income in your area is $91,357, compare this to the US average which is $84,609.
In 2018, there are 19,562 employees in your selected area, this is also known as the daytime population. The 2000 Census revealed that 63.39% of employees are employed in white-collar occupations in this geography, and 36.84% are employed in blue-collar occupations. In 2018, unemployment in this area is 6.44%. In 2000, the average time traveled to work was minutes.
Source: © 2018 Experian