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100 Franklin Square Drive

Vantage Commercial Sells 106600 Square Foot Office In Somerset, New Jersey In 88 Days
SOLDOffice

Vantage Commercial Sells 106600 Square Foot Office In Somerset, New Jersey In 88 Days

100 Franklin Square Drive

Building Size

106,600 SF

Asset Type

Office

Closing

Nov 6, 2025

AI

100 Franklin Square Drive is a 106,600-square-foot office complex located in Somerset, N.J. The property was recently sold by an undisclosed REO seller associated with Vantage Commercial, indicating its status as a significant asset in the regional market.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: Not disclosed
  • Square Footage: 106,600 SF
  • Address: 100 Franklin Square Drive
  • Market: Somerset
  • Broker: Ken Richardson - Vantage Commercial
  • Buyer: Owner-user planning to convert part of the building for local surgical centers
  • Days on Market: 88 days

Ken Richardson, representing Vantage Commercial, facilitated the transaction for the office complex, successfully connecting the undisclosed REO seller with the buyer who has specific plans for the property. The deal finalized shortly after the listing, demonstrating effective brokerage services.

Players

Ken Richardson

Vantage Commercial

Broker

$425K

vol

3 deals

Broker
Vantage Commercial
Vantage CommercialBrokerage

Somerset Office Market Snapshot

Boundary boundary · Office · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

5.80%

Cash-on-Cash

-1.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93