Ground-Floor Retail & Office
For Sale
Contact for pricing
1-223 Raritan Ave, Highland Park, NJ 08904
Ground-floor unit with approximately 1,350 square feet, positioned for strong foot and vehicle exposure on Raritan Avenue.
Property Size4,800 SF
Price / SF$0.61
Days on Market195
Property Features for 1-223 Raritan Ave
General Information
Standard status
Active
Size
4,800 SF
Taxes and HOA fees
Annual Taxes
$14,949
Listing Agency:
TESLA REALTY GROUP LLC
(844) 837-5274
Listed By:
YONGMEI TAN
Source:
Exprealty
Added: Apr 15
Changed: Oct 25
Last Checked: Oct 24 at 8:36PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of TESLA REALTY GROUP LLC
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This ground-floor commercial unit offers approximately 1,350 square feet of flexible space, suited for a range of business uses. The property is positioned for storefront-style operations with high foot traffic and vehicle exposure along Raritan Avenue.
The unit is located at 1-223 Raritan Ave in Highland Park, NJ, providing convenient access to an active retail corridor.
If you’re looking for a versatile space for retail, office, or personal services, this ground-floor layout is designed to support walk-in and customer-facing activity.
The unit is located at 1-223 Raritan Ave in Highland Park, NJ, providing convenient access to an active retail corridor.
If you’re looking for a versatile space for retail, office, or personal services, this ground-floor layout is designed to support walk-in and customer-facing activity.
Key Highlights
- Ground‑floor commercial unit on Raritan Avenue in Edison
- Approximately 1,350 SF of flexible space for a variety of commercial uses
- Suitable for uses including salon, retail shop, or office
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$68,512
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,370,240
$1.4M
Cap Rate 7%
$978,743
$978.7K
Cap Rate 9%
$761,244
$761.2K
Market Conditions
NOI Build-Up for 4,800 SF
Gross rent
$103.7K $21.60/SF
− Vacancy
−$5.8K −$1.21/SF
EGI
$97.9K $20.39/SF
− OpEx
−$29.4K −$6.12/SF
NOI
$68.5K $14.27/SF
Area
Middlesex County, NJ
Vacancy
5.60%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,370,240
Cap Rate 7%
$978,743
Cap Rate 9%
$761,244
Alternative Uses
Best Use
Retail
$978.7K
$856.4K – $1.14M
NOI $68,512 @ 7.0% cap · market cap 2,322.44%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.25M
$1.10M – $1.46M
NOI $87,736 @ 7.0% cap · market cap 2,974.10%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
2,203
Businesses Nearby
4k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 100%
Papa John's Pizza
Dining
2,482 visits/mo
0.1 miles
Pad Thai
Dining
1,395 visits/mo
0.3 miles
Demographics for 08904, NJ
15,072
Population
6,858
Households
2.2
Avg Household Size
36
Median Age
70%
College-Educated
94%
High-School Grad
1.8 sq mi
ZIP Area
8,373
Density / Sq Mi
$101,991
Median Household Income
$58,786
Median Earnings
$1,881
Median Rent
$463,600
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Similar Off Market Nearby
- Redwood Florist — 151 Albany St, New Brunswick, NJ 08901
- Highland Flower — 75 Raritan Ave, Highland Park, NJ 08904
- Avalon Designs LLC — 114 Raritan Ave, Highland Park, NJ 08904
Frequently Asked Questions
What type of property is this?
Storefront property - Ground-floor unit with approximately 1,350 square feet, positioned for strong foot and vehicle exposure on Raritan Avenue.
Where is this storefront property located?
The property is located at 1-223 Raritan Ave Highland Park, NJ.
What are key features of this property?
This property features: Ground‑floor commercial unit on Raritan Avenue in Edison; Approximately 1,350 SF of flexible space for a variety of commercial uses; Suitable for uses including salon, retail shop, or office
