Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    16 Reimer St Raritan, NJ 08869

    Loading data...
    Loading data...
    Loading data...
    For Sale
    $500,000

    Multifamily residential income property available in Raritan, New Jersey.

    Lot size:
    0.12 Acres

    Property Features for 16 Reimer St

    General Information

    Lot size
    0.12 Acres

    Building Details

    Year built
    1920

    We can help!

    Listing Contact
    Evanita Landaverde
    Source: Elliman

    Listing Agent: Evanita Landaverde

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

    Learn more

    Overview

    Raritan Multifamily Property for Sale

    This multifamily property is located in Raritan, New Jersey. The property is classified as a residential income property and is available for sale.
    Location Intelligence

    Current Use by Public Records

    Multifamily properties

    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
    -74.6295886
    Latitude
    40.5701986

    Nearby Similar for Sale

    • $2,350,000
      12,000 SF

      Raritan Boro Commercial Building For Sale

      12,000 SF commercial building with showroom/office, high visibility location.
      401 Us Highway 202, Raritan, NJ 08869
      View Details
    • Contact for pricing
      12,000 SF

      Raritan Commercial Building with Showroom

      12,000 SF commercial building with high visibility and permitted uses.
      401 Us Highway 202, Raritan, NJ 08869
      View Details
    • $344,000
      8,979 SF

      Turnkey Office Condo on Route 202

      Updated office condo with flexible layout in Raritan Boro, NJ.
      1124 Rt202, Raritan, NJ 08869
      View Details
    • $214,900
      1,600 SF

      Turn Key Medical Office Suite

      1600 SF medical or professional office suite for sale.
      1130 Rte 202, Raritan, NJ 08869
      View Details
    • $90,000
      1,123 SF

      Turnkey Coffee Shop in Raritan

      Newly-outfitted coffee and acai shop in downtown Raritan.
      2 E Somerset St, Raritan, NJ 08869
      View Details
    • Contact for pricing
      1,800 SF

      Remodeled Retail or Office Space

      Remodeled 1,200 SF retail/office space in Raritan, NJ.
      30 W Somerset St, Raritan, NJ 08869
      View Details
    • Contact for pricing
      9.72 Acres

      Raritan Industrial Property For Sale

      Industrial property in Raritan, NJ, available for lease January-2025.
      2 Johnson Dr, Raritan, NJ 08869
      View Details
    • $550,000

      Spacious Two-Family Home on Corner Lot

      Two-family home with full basement on an oversized corner lot.
      84 E Somerset St, Raritan, NJ 08869
      View Details
    • $1,500,000
      4,868 SF

      Raritan Retail/Office Building For Sale

      Value-add property with existing tenant and vacant space.
      34 E Somerset St, Raritan, NJ 08869
      View Details
    • $1,100,000

      Raritan Mixed-Use Investment Opportunity

      Mixed-use property with four rentals in Raritan's business district.
      24 E Somerset St, Raritan, NJ 08869
      View Details
    • $129,900
      8,976 SF

      Raritan Boro Office Suite

      Spacious office suite with leased offices and handicap access.
      1124 Rt 202, Raritan, NJ 08869
      View Details
    • Contact for pricing
      5,000 SF

      Mixed-Use Property in Downtown Raritan

      Two-story mixed-use property with retail and residential components.
      49 W Somerset St, Raritan, NJ 08869
      View Details

    FAQs

    What type of property is this?
    Multifamily property - Multifamily residential income property available in Raritan, New Jersey.
    Where is this multifamily property located?
    The property is located at 16 Reimer St Raritan, NJ.
    What is the asking price?
    The asking price for this property is $500,000.
    What are key features of this property?
    This property features: - Multifamily residential income property in Raritan, New Jersey.; - Residential property.; - Income property.
    (732) 444-7575
    Request Owner's contact information
    16 Reimer St Raritan, NJ 08869
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    16 Reimer St
    Raritan, NJ 08869
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    16 Reimer St Raritan, NJ 08869
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Evanita Landaverde
    (732) 444-7575
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.