Retail Building with Rental
1149 Raritan Ave, Highland Park, NJ 08904
For Sale
$988,888
Retail building with rear rental unit and truck parking.
Property Size2,800 SF
Price / SF$353.17
Days on Market234
Property Features for 1149 Raritan Ave
General Information
Standard status
Size
Building Details
Year Built
Listing Agency:
AMERICA AGENCY
Listed By:
LOUIS TRENTA
(732) 985-7894
Source:
Luminancerealty
Added: Mar 26
Changed: Nov 13
Last Checked: Oct 5 at 7:36PM
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 AMERICA AGENCY
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Investment Insights
Based on property information with market context.
This commercial property features a retail building with a rear rental unit generating $2,200 per month, which includes heat, while the tenant covers utilities. The rear unit, accessible from the Lexington Avenue side, spans 800 square feet. The building is equipped with hot water baseboard heating controlled by a separate thermostat. The front unit has a wall air conditioner, while the rental unit has separate central air. The owner covers the heat and hot water expenses for the rental unit. The property includes a rear garage, estimated between 800 and 1,000 square feet, with two electric overhead remote-controlled doors and space for four commercial trucks. A 6x8 concrete slab on the side of the building serves as a loading dock for the front unit. A 150 ft radio tower is located in the rear of the building. The rental lease on the rear unit has 18 months remaining before termination. All necessary permits for occupancy have been secured. The building does not have gas, but gas lines are available in the street for hook up.
Key Highlights
- Rear rental unit generates $2,200/month income.
- Rear garage provides 800‑1000 sq ft with 2 electric overhead remote controls and 4 commercial truck parking spaces.
- Environmentally clean building with all approved permits.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$39,965
Cap Rate
4.04%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$799,300
$799.3K
Cap Rate 7%
$570,929
$570.9K
Cap Rate 9%
$444,056
$444.1K
Market Conditions
NOI Build-Up for 2,800 SF
Gross rent
$60.5K $21.60/SF
− Vacancy
−$3.4K −$1.21/SF
EGI
$57.1K $20.39/SF
− OpEx
−$17.1K −$6.12/SF
NOI
$40.0K $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%
$799,300
Cap Rate 7%
$570,929
Cap Rate 9%
$444,056
Alternative Uses
Best Use
Retail
$570.9K
$499.6K – $666.1K
NOI $39,965 @ 7.0% cap · market cap 4.04%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$731.1K
$639.8K – $853.0K
NOI $51,180 @ 7.0% cap · market cap 5.18%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,363
Businesses Nearby
29k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 72%
Dining 28%
Dunkin' Donuts
Dining
8,114 visits/mo
0.4 miles
Lukoil
Shops & Services
7,194 visits/mo
0.3 miles
Raceway
Shops & Services
7,070 visits/mo
0.3 miles
Bank of America
Shops & Services
5,463 visits/mo
0.3 miles
Mavis Discount Tire
Shops & Services
1,144 visits/mo
0.4 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
$463,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Retail space in Middlesex County, NJ
Properties on Market for Retail space in Middlesex County
Vacancy Rate% for Retail in Northeast region
Frequently Asked Questions
What type of property is this?
Retail space - Retail building with rear rental unit and truck parking.
Where is this retail space located?
The property is located at 1149 Raritan Ave Highland Park, NJ.
What is the asking price?
The asking price for this property is $988,888.
What are key features of this property?
This property features: Rear rental unit generates $2,200/month income.; Rear garage provides 800‑1000 sq ft with 2 electric overhead remote controls and 4 commercial truck parking spaces.; Environmentally clean building with all approved permits.
