Brick Storefront with Rear
For Sale
$988,888
1149 Raritan Avenue, Highland Park, NJ 08904
Commercial Sale, Highland Park, NJ
Property Size2,800 SF
Lot Size0.10 Acres
Price / SF$353.17
Days on Market1038
Property Features for 1149 Raritan Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
c
Parking
3
Parking features
On Street
Lot features
Commercial Area
Directions
Lexington Ave & Route 27 (Raritan Ave)
Standard status
Active
APN
0701207000000017
Size
2,800 SF
Lot size
0.10 Acres
Taxes and HOA fees
Tax Year
2022
Tax Annual Amount
10000
Utilities
Sewer type
Public Sewer
Heating system
Baseboard, Zoned, Hot Water(Heating)
Cooling system
Central Air
Water source
Public
Building Details
Year built
1950
Floors in Building
1
Flooring type
Tile, Tile - Ceramic, Concrete, Carpet
Building materials
Brick
Roof type
Flat
Listing Agency:
AMERICA AGENCY
(800) 541-1999
Listed By:
Louis Trenta
(732) 985-7894
Added: Nov 21, 2023
Changed: Sep 12
Last Checked: Sep 24 at 8:06PM
MLS# 2405718R
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 2,800-square-foot brick storefront was built in 1950 and includes a rear rental unit measuring 800 square feet. The rear unit has a three-year lease term, separate thermostat, central air, and owner-paid heat and hot water. The main space has wall air conditioning, while heating is provided by zoned hot-water baseboard systems.
A rear garage of approximately 800–1,000 square feet includes two electric overhead doors and four commercial truck parking spaces. A 6-by-8-foot concrete loading dock serves the front unit. The property has public water and sewer, a flat roof, and no gas service in the building; gas is available in the street for connection. A 150-foot radio tower in the rear is not in use.
A rear garage of approximately 800–1,000 square feet includes two electric overhead doors and four commercial truck parking spaces. A 6-by-8-foot concrete loading dock serves the front unit. The property has public water and sewer, a flat roof, and no gas service in the building; gas is available in the street for connection. A 150-foot radio tower in the rear is not in use.
Key Highlights
- 2,800 SF brick storefront on a 0.1033‑acre lot
- 800 SF rear rental unit with a 3‑year lease term
- Rear garage measures approximately 800–1,000 SF
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
$39,965
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
4.04%
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%
$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
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
$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 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%
$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.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,121
Businesses Nearby
24k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 66%
Dining 34%
Dunkin' Donuts
Dining
8,114 visits/mo
0.5 miles
7-Eleven
Shops & Services
7,351 visits/mo
0.3 miles
Raceway
Shops & Services
7,070 visits/mo
0.1 miles
Mavis Discount Tire
Shops & Services
1,144 visits/mo
0.5 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
View Realmo Analytics
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Vaseful Flowers and Gifts — 256 US-1, Edison, NJ 08817
- Joanne's Flowers — Edison, NJ 08817
Frequently Asked Questions
What type of property is this?
Storefront property - Commercial storefront with a leased rear unit, loading dock, garage space, and public water and sewer.
Where is this storefront property located?
The property is located at 1149 Raritan Avenue 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: 2,800 SF brick storefront on a 0.1033‑acre lot; 800 SF rear rental unit with a 3‑year lease term; Rear garage measures approximately 800–1,000 SF
