Renovated Retail
For Sale
Contact for pricing
227 Raritan Ave, Highland Park, NJ 08904
Recently renovated storefront features new floors, ceiling, and bathroom, plus added basement storage.
Property Size510 SF
Price / SF$5.18
Days on Market264
Property Features for 227 Raritan Ave
General Information
Standard status
Active
Size
510 SF
Taxes and HOA fees
Annual Taxes
$19,056
Listing Agency:
AMERICA AGENCY
(800) 541-1999
Listed By:
MICHAEL CEKOT
(732) 221-2897
Source:
Exprealty
Added: Feb 5
Changed: Oct 25
Last Checked: Oct 26 at 8:31PM
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 renovated retail storefront was completed approximately two years ago and includes new interior finishes, including new floors, a new ceiling, and a newly updated bathroom. The space also benefits from a bonus basement area for additional storage.
The property is located on a busy main street with substantial foot traffic, providing a steady flow of pedestrians in front of the storefront.
In addition to the primary storefront area, the included basement storage adds practical back-of-house capacity for day-to-day operations.
The property is located on a busy main street with substantial foot traffic, providing a steady flow of pedestrians in front of the storefront.
In addition to the primary storefront area, the included basement storage adds practical back-of-house capacity for day-to-day operations.
Key Highlights
- Storefront completely renovated 2 years ago, with new floors, new ceiling, and a new bathroom
- Recently renovated storefront with added 500 SF basement storage
- Located on a busy main street with lots of foot traffic
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$7,279
Suggested Prices Based on Cap Rates
Cap Rate 5%
$145,580
$145.6K
Cap Rate 7%
$103,986
$104.0K
Cap Rate 9%
$80,878
$80.9K
Market Conditions
NOI Build-Up for 510 SF
Gross rent
$11.0K $21.60/SF
− Vacancy
−$617 −$1.21/SF
EGI
$10.4K $20.39/SF
− OpEx
−$3.1K −$6.12/SF
NOI
$7.3K $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%
$145,580
Cap Rate 7%
$103,986
Cap Rate 9%
$80,878
Alternative Uses
Best Use
Retail
$104.0K
$91.0K – $121.3K
NOI $7,279 @ 7.0% cap · market cap 275.72%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$133.2K
$116.5K – $155.4K
NOI $9,322 @ 7.0% cap · market cap 353.11%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,257
Businesses Nearby
32k
Monthly Visits Nearby
Under-served
Demand for This Use
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
0.3 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
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Market
Vacancy Rate% for Retail in Northeast region
Similar Off Market Nearby
- Highland Flower — 75 Raritan Ave, Highland Park, NJ 08904
- Avalon Designs LLC — 114 Raritan Ave, Highland Park, NJ 08904
Frequently Asked Questions
What type of property is this?
Storefront property - Recently renovated storefront features new floors, ceiling, and bathroom, plus added basement storage.
Where is this storefront property located?
The property is located at 227 Raritan Ave Highland Park, NJ.
What are key features of this property?
This property features: Storefront completely renovated 2 years ago, with new floors, new ceiling, and a new bathroom; Recently renovated storefront with added 500 SF basement storage; Located on a busy main street with lots of foot traffic
