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    34 E Somerset St Raritan, NJ 08869

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    For Sale
    $1,500,000

    Value-add property with existing tenant and vacant space.

    Property size:
    4,868 SF
    Lot size:
    0.42 Acres

    Property Features for 34 E Somerset St

    General Information

    Size
    4,868 SF
    Lot size
    0.42 Acres

    Source: Equity CRE Agent David Laiter

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Raritan Retail/Office Building For Sale

    This property, offered for sale or lease, is currently occupied by TD Bank, which has recently extended its lease. TD Bank has operated at this location for approximately 15 years, recording over $300 million in deposits in each of the last four years. The building includes an additional approximately 2,738 square feet of vacant space formerly occupied by a medical office on the first floor, as well as approximately 4,000 square feet of vacant space on the lower level. The property is equipped with two drive-thru lanes and ample off-street parking. The subject property is located on Somerset Street (Route 626), just off Route 206 and the Somerville Circle, a major retail corridor and commuter thruway. The property benefits from its location in the market and visibility, making it a strong retail or office location. The property size is 4,868 square feet.
    Insight Report Location Intelligence

    Current Use by Public Records

    Morristown Memorial Wound ... Doctor Morristown Memorial Wound ... Doctor Shah Ashish MD Doctor Morristown Memorial Wound ... Doctor Morristown Memorial Wound ... Doctor

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Raritan
    County
    Somerset
    State
    New Jersey
    Longitude
    -74.6309239
    Latitude
    40.5683526

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    FAQs

    What type of property is this?
    Bank - Value-add property with existing tenant and vacant space.
    Where is this bank located?
    The property is located at 34 E Somerset St Raritan, NJ.
    What is the asking price?
    The asking price for this property is $1,500,000.
    What are key features of this property?
    This property features: - High-traffic location on Somerset Street (Route 626) near Route 206 and the Somerville Circle.; - Existing TD Bank tenant with lease extension and strong deposit history ($300M+ annually for 4 years).; - Two drive-thru lanes.
    (610) 645-7700
    Request Owner's contact information
    34 E Somerset St Raritan, NJ 08869
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    Raritan, NJ 08869
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    34 E Somerset St Raritan, NJ 08869
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