Prime Retail/Office Space
For Sale
Contact for pricing
223 Raritan Ave Unit 1, Highland Park, NJ 08904
Highly visible ground-floor unit suitable for various commercial uses.
Property Size4,800 SF
Price / SF$0.61
Days on Market196
Property Features for 223 Raritan Ave Unit 1
General Information
Standard status
Active
Size
4,800 SF
Building Details
Year Built
1930
Listing Agency:
TESLA REALTY GROUP LLC
Listed By:
YONGMEI TAN
(844) 837-5274
Source:
Thebansalteam
Added: Apr 15
Changed: Oct 25
Last Checked: Oct 7 at 3:47PM
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 TESLA REALTY GROUP LLC
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
An opportunity exists to establish a business at a visible location on Raritan Avenue in Edison. The ground-floor unit provides approximately 1,350 square feet of flexible space. It is suitable for a range of commercial uses, including restaurant, salon, retail shop, and office. The location benefits from high foot traffic and vehicle exposure on Raritan Avenue.
Key Highlights
- Highly visible location on Raritan Avenue.
- High foot traffic and vehicle exposure.
- Approximately 1,350 square feet of flexible space.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$68,512
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,370,240
$1.4M
Cap Rate 7%
$978,743
$978.7K
Cap Rate 9%
$761,244
$761.2K
Market Conditions
NOI Build-Up for 4,800 SF
Gross rent
$103.7K $21.60/SF
− Vacancy
−$5.8K −$1.21/SF
EGI
$97.9K $20.39/SF
− OpEx
−$29.4K −$6.12/SF
NOI
$68.5K $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%
$1,370,240
Cap Rate 7%
$978,743
Cap Rate 9%
$761,244
Alternative Uses
Best Use
Retail
$978.7K
$856.4K – $1.14M
NOI $68,512 @ 7.0% cap · market cap 2,322.44%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.25M
$1.10M – $1.46M
NOI $87,736 @ 7.0% cap · market cap 2,974.10%
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
1,248
Businesses Nearby
32k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 48%
Shops & Services 40%
Dining 12%
Superfresh
Groceries
15,207 visits/mo
0.2 miles
Lukoil
Shops & Services
7,194 visits/mo
0.4 miles
Bank of America
Shops & Services
5,463 visits/mo
0.4 miles
Papa John's Pizza
Dining
2,482 visits/mo
0.3 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
View Realmo Analytics
Market
Vacancy Rate% for Retail in Northeast region
Frequently Asked Questions
What type of property is this?
Retail space - Highly visible ground-floor unit suitable for various commercial uses.
Where is this retail space located?
The property is located at 223 Raritan Ave Unit 1 Highland Park, NJ.
What are key features of this property?
This property features: Highly visible location on Raritan Avenue.; High foot traffic and vehicle exposure.; Approximately 1,350 square feet of flexible space.
