Commercial Land With Existing
For Sale
Contact for pricing
330 Raritan Ave, Highland Park, NJ 08904
Vacant commercial property with Central Business District zoning and redevelopment potential subject to municipal approvals.
Property Size15,328 SF
Price / SF$313.15
Days on Market9
Property Features for 330 Raritan Ave
General Information
Standard status
Active
Size
15,328 SF
Property subtype
Retail
Zoning
Central Business District (CBD Zoning)
Investment Type
Redevelopment
Building Details
Year Built
1990
Year Renovated
2015
Buildings
1
Stories
1
Listing Agency:
Matthews
Listed By:
Brandon Senia · License #SL3540848
Source:
Crexi
Added: Aug 3
Changed: Aug 9
Last Checked: Aug 9 at 4:05PM
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 Matthews
Investment Insights
Based on property information with market context.
The offering combines a 15,328-square-foot vacant commercial building with a 1.67-acre parcel. Constructed in 1990, the existing improvement is positioned for continued commercial use or potential repositioning, while the larger site supports redevelopment planning subject to municipal approvals.
Central Business District zoning provides the governing land-use framework. The property is located at 330–334 Raritan Avenue in Highland Park, with access to New Brunswick, Rutgers University, Robert Wood Johnson University Hospital, and the region’s major transportation network. The site may accommodate a mixed-use concept with ground-floor retail and residential apartments above, subject to required approvals.
Central Business District zoning provides the governing land-use framework. The property is located at 330–334 Raritan Avenue in Highland Park, with access to New Brunswick, Rutgers University, Robert Wood Johnson University Hospital, and the region’s major transportation network. The site may accommodate a mixed-use concept with ground-floor retail and residential apartments above, subject to required approvals.
Key Highlights
- 1.67‑acre parcel with a 15,328‑square‑foot vacant commercial building
- Central Business District (CBD Zoning)
- Existing building constructed in 1990
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$218,781
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.56%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$4,375,620
$4.4M
Cap Rate 7%
$3,125,443
$3.1M
Cap Rate 9%
$2,430,900
$2.4M
Market Conditions
NOI Build-Up for 15,328 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$331.1K $21.60/SF
− Vacancy
−$18.5K −$1.21/SF
EGI
$312.5K $20.39/SF
− OpEx
−$93.8K −$6.12/SF
NOI
$218.8K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$4,375,620
Cap Rate 7%
$3,125,443
Cap Rate 9%
$2,430,900
Alternative Uses
Best Use
Retail
$3.13M
$2.73M – $3.65M
NOI $218,781 @ 7.0% cap · market cap 4.56%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.00M
$3.50M – $4.67M
NOI $280,171 @ 7.0% cap · market cap 5.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,331
Businesses Nearby
44k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 47%
Groceries 34%
Dining 18%
Superfresh
Groceries
15,207 visits/mo
0.4 miles
Dunkin' Donuts
Dining
8,114 visits/mo
0.3 miles
Lukoil
Shops & Services
7,194 visits/mo
0.2 miles
Raceway
Shops & Services
7,070 visits/mo
0.4 miles
Bank of America
Shops & Services
5,463 visits/mo
0.2 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
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Commercial land - Vacant commercial property with Central Business District zoning and redevelopment potential subject to municipal approvals.
Where is this commercial land located?
The property is located at 330 Raritan Ave Highland Park, NJ.
What is the asking price?
The asking price for this property is $4,800,000.
What are key features of this property?
This property features: 1.67‑acre parcel with a 15,328‑square‑foot vacant commercial building; Central Business District (CBD Zoning); Existing building constructed in 1990
