Updated Feb 5, 2026
Lilly 28 LLC Acquires Retail Asset From Somerset Hills Investment Inc For $1.6 Million
278 Us 202
$1,600,000
$308/SF
Building Size
5,194 SF
Asset Type
Retail
Closing
Feb 3, 2026
About this deal
AI
The property involved in this transaction is a retail asset located at 278 Route 202/206 in Somerville, New Jersey. The sale was finalized at a price of $1,600,000, with a total square footage of 5,194. The property, built in 1972, is situated near the Somerville Circle and experiences daily traffic counts exceeding 90,000 vehicles.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $1,600,000
- Buyer: Lilly 28 LLC
- Seller: Somerset Hills Investment Inc
- Brokers: Tim Deluccia - Deluccia Commercial Group
- Price per Square Foot: $308
Tim Deluccia represented both the seller, Somerset Hills Investment Inc, and the buyer, Lilly 28 LLC, in this transaction. The Deluccia Commercial Group facilitated the sale, which closed in late January.
On the Map
$1,600,000
$308/SF
Retail
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Somerville Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
9.91%
Cash-on-Cash
-2.83%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93