Retail Space with Full
New
For Sale
Contact for pricing
114 Raritan Ave, Highland Park, NJ 08904
An existing shop setup, rear parking, and street parking support a range of retail operations.
Property Size3,000 SF
Days on Market2
Property Features for 114 Raritan Ave
General Information
Standard status
Active
Size
3,000 SF
Total Parking Spaces
6
Property subtype
Commercial
Additional Details
Currently Operating
Yes
Taxes and HOA fees
Annual Taxes
$19,706
Amenities
full basement
Building Details
Building Size
3,000 SF
Year Built
1912
Stories
1
Listing Agency:
KELLER WILLIAMS REAL ESTATE GREATER BRUNSWICK
Listed By:
MORGAN M. CHEN
(732) 425-7057
Source:
Elliman
Added: Oct 30
Last Checked: Oct 30 at 2:48PM
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 KELLER WILLIAMS REAL ESTATE GREATER BRUNSWICK
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Investment Insights
Based on property information with market context.
This retail space is currently operating as a flower, coffee, and bubble tea shop. Existing equipment, furnishings, and contents are available for purchase separately. A full basement provides additional storage, and the building dates to 1912.
The property is on Raritan Avenue in downtown Highland Park. Street parking is available at the storefront, with six dedicated spaces in the rear lot. Front and side signage is subject to municipal approval. Walk Score is 85, Bike Score is 77, and Transit Score is 49.
The property is on Raritan Avenue in downtown Highland Park. Street parking is available at the storefront, with six dedicated spaces in the rear lot. Front and side signage is subject to municipal approval. Walk Score is 85, Bike Score is 77, and Transit Score is 49.
Key Highlights
- Currently operating as a flower, coffee, and bubble tea shop
- Six dedicated parking spaces in the rear lot, plus street parking in front
- Full basement provides storage space
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$42,820
Suggested Prices Based on Cap Rates
Cap Rate 5%
$856,400
$856.4K
Cap Rate 7%
$611,714
$611.7K
Cap Rate 9%
$475,778
$475.8K
Market Conditions
NOI Build-Up for 3,000 SF
Gross rent
$64.8K $21.60/SF
− Vacancy
−$3.6K −$1.21/SF
EGI
$61.2K $20.39/SF
− OpEx
−$18.4K −$6.12/SF
NOI
$42.8K $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%
$856,400
Cap Rate 7%
$611,714
Cap Rate 9%
$475,778
Alternative Uses
Best Use
Specialty Retail
$655.4K
$573.5K – $764.6K
NOI $45,878 @ 7.0% cap · market cap 1,390.24%
Second Best
Retail
$611.7K
$535.3K – $713.7K
NOI $42,820 @ 7.0% cap · market cap 1,297.58%
Theoretical Best
Office A
$783.4K
$685.4K – $913.9K
NOI $54,835 @ 7.0% cap · market cap 1,661.67%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,578
Businesses Nearby
19k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 80%
Dining 20%
Superfresh
Groceries
15,207 visits/mo
0.4 miles
Papa John's Pizza
Dining
2,482 visits/mo
0.1 miles
Pad Thai
Dining
1,395 visits/mo
0.1 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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Northeast region
Frequently Asked Questions
What type of property is this?
Retail space - An existing shop setup, rear parking, and street parking support a range of retail operations.
Where is this retail space located?
The property is located at 114 Raritan Ave Highland Park, NJ.
What are key features of this property?
This property features: Currently operating as a flower, coffee, and bubble tea shop; Six dedicated parking spaces in the rear lot, plus street parking in front; Full basement provides storage space
