Mixed-Use Property With Two
For Sale
$939,900
321 Raritan Ave, Highland Park, NJ 08904
Combines a leased residential unit with occupied professional office space and additional unfinished area.
Property Size2,420 SF
Price / SF$388.39
Days on Market49
Property Features for 321 Raritan Ave
General Information
Standard status
Active
Size
2,420 SF
Units
Unit Mix
1 x 3BR/1BA
Multifamily Units
1
Office Units
1
Building Details
Year Built
1700
Buildings
1
Listing Agency:
HALO REALTY
Listed By:
REGINA RODRIGUEZ · License #0898073
(732) 318-0196
Source:
Goldstandardrealty
Added: Sep 9
Changed: Oct 26
Last Checked: Oct 7 at 1:53PM
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 HALO REALTY
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Investment Insights
Based on property information with market context.
This mixed-use property contains two existing units within a 2,420-square-foot building. The upper level is arranged as a three-bedroom, one-bath residential unit occupied under a 24-month lease. The lower level is configured for professional office use and is occupied by a dental office, creating distinct residential and commercial components within the property.
A potential third-floor unit could provide additional living or workspace, subject to applicable zoning, permits, and approvals. The unfinished basement adds storage capacity for inventory, equipment, or business-related materials. The property is located at 321 Raritan Ave in Highland Park, New Jersey, and was built in 1700.
A potential third-floor unit could provide additional living or workspace, subject to applicable zoning, permits, and approvals. The unfinished basement adds storage capacity for inventory, equipment, or business-related materials. The property is located at 321 Raritan Ave in Highland Park, New Jersey, and was built in 1700.
Key Highlights
- 2,420‑square‑foot mixed‑use building with two existing units
- Upper‑level three‑bedroom, one‑bath residential unit with a 24‑month lease
- Lower level configured as professional office space and occupied by a dental office
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$37,215
Cap Rate
3.96%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$744,300
$744.3K
Cap Rate 7%
$531,643
$531.6K
Cap Rate 9%
$413,500
$413.5K
Market Conditions
NOI Build-Up for 2,420 SF
Gross rent
$72.6K $30.00/SF
− Vacancy
−$4.9K −$2.04/SF
EGI
$67.7K $27.96/SF
− OpEx
−$30.4K −$12.58/SF
NOI
$37.2K $15.38/SF
Area
Middlesex County, NJ
Vacancy
6.80%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$744,300
Cap Rate 7%
$531,643
Cap Rate 9%
$413,500
Alternative Uses
Best Use
Apartment 5plus
$531.6K
$465.2K – $620.3K
NOI $37,215 @ 7.0% cap · market cap 3.96%
Second Best
Office B
$528.9K
$462.8K – $617.1K
NOI $37,026 @ 7.0% cap · market cap 3.94%
Theoretical Best
Office A
$631.9K
$552.9K – $737.2K
NOI $44,234 @ 7.0% cap · market cap 4.71%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
1
Office units
1
Residential units
Location Intelligence
Trade Area within ½ mile
1,257
Businesses Nearby
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Business Placement
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
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Market
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Combines a leased residential unit with occupied professional office space and additional unfinished area.
Where is this mixed-use property located?
The property is located at 321 Raritan Ave Highland Park, NJ.
What is the asking price?
The asking price for this property is $939,900.
What are key features of this property?
This property features: 2,420‑square‑foot mixed‑use building with two existing units; Upper‑level three‑bedroom, one‑bath residential unit with a 24‑month lease; Lower level configured as professional office space and occupied by a dental office
