Two-Suite Medical Office
For Sale
Under Contract
$1,350,000
1001 Raritan Avenue, Highland Park, NJ 08904
Commercial Sale, Highland Park, NJ
Property Size4,200 SF
Lot Size0.29 Acres
Price / SF$321.43
Days on Market374
Property Features for 1001 Raritan Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
C
Parking
12
Parking features
Driveway, Garage
Interior features
Carpeting, Lighting Fixtures
Lot features
Corner Lot
Directions
Raritan Ave To #1001
Standard status
Active Under Contract
APN
0701305000000017
Size
4,200 SF
Lot size
0.29 Acres
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
29763
Utilities
Sewer type
Public Sewer
Heating system
Forced Air
Cooling system
Central Air
Water source
Private
Building Details
Year built
1940
Floors in Building
1
Flooring type
Carpet, Lighting fixtures, Tile, Laminate
Building materials
Wood Siding
Roof type
Asphalt
Listing Agency:
KELLER WMS GREATER BRUNSWICK · Keller Williams Realty
(908) 647-1000
Listed By:
Scott Gordon
(908) 240-7524
Added: Sep 12, 2025
Changed: Sep 16
Last Checked: Sep 20 at 12:06PM
MLS# 2660436M
Copyright © 2026 All Jersey MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 4,200-square-foot medical office property contains two separate suites. The first includes six exam rooms or offices, a waiting room, reception area, common area, and two private bathrooms. The second provides an open room, eight exam rooms or offices, and two bathrooms. Interior finishes include carpeting, tile, laminate, and lighting fixtures, with forced-air heat and central air. The roof was recently re-sealed, and the first suite has a new AC unit.
Located at 1001 Raritan Avenue in Highland Park, the property offers on-site parking for 12–14 cars and access to public transportation. The parcel measures 0.2878 acres and includes driveway and garage parking. Zoning is C, with public sewer and private water service.
Located at 1001 Raritan Avenue in Highland Park, the property offers on-site parking for 12–14 cars and access to public transportation. The parcel measures 0.2878 acres and includes driveway and garage parking. Zoning is C, with public sewer and private water service.
Key Highlights
- 4,200‑square‑foot medical office property with two separate suites
- First suite includes 6 exam rooms/offices, waiting room, reception, common area, and 2 bathrooms
- Second suite offers an open room, 8 exam rooms/offices, and 2 bathrooms
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$64,260
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.76%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,285,200
$1.3M
Cap Rate 7%
$918,000
$918.0K
Cap Rate 9%
$714,000
$714.0K
Market Conditions
NOI Build-Up for 4,200 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$126.0K $30.00/SF
− Vacancy
−$40.3K −$9.60/SF
EGI
$85.7K $20.40/SF
− OpEx
−$21.4K −$5.10/SF
NOI
$64.3K $15.30/SF
Area
Middlesex County, NJ
Vacancy
32.00%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,285,200
Cap Rate 7%
$918,000
Cap Rate 9%
$714,000
Alternative Uses
Best Use
Office B
$918.0K
$803.3K – $1.07M
NOI $64,260 @ 7.0% cap · market cap 4.76%
Second Best
Healthcare Medical
$893.4K
$781.7K – $1.04M
NOI $62,536 @ 7.0% cap · market cap 4.63%
Theoretical Best
Office A
$1.10M
$959.6K – $1.28M
NOI $76,769 @ 7.0% cap · market cap 5.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Office units
Location Intelligence
Trade Area within ½ mile
1,331
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in Northeast region
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Similar Off Market Nearby
- Central Jersey Veterinary Clinic — 1014 Raritan Ave, Highland Park, NJ 08904
- Lyndon Goldsmith — 1014 Raritan Ave, Highland Park, NJ 08904
- Edison Veterinary Care — 1605 NJ-27, Edison, NJ 08817
Frequently Asked Questions
What type of property is this?
Medical Office Space - Medical office property with exam rooms, reception areas, parking, and public transportation access.
Where is this medical office space located?
The property is located at 1001 Raritan Avenue Highland Park, NJ.
What is the asking price?
The asking price for this property is $1,350,000.
What are key features of this property?
This property features: 4,200‑square‑foot medical office property with two separate suites; First suite includes 6 exam rooms/offices, waiting room, reception, common area, and 2 bathrooms; Second suite offers an open room, 8 exam rooms/offices, and 2 bathrooms
