Storefront
For Sale
$565,000
36-38 W Somerset St, Raritan, NJ 08869
B1-zoned property offers an unfinished interior and natural gas service.
Property Size1,512 SF
Days on Market44
Property Features for 36-38 W Somerset St
General Information
Standard status
Active
Size
1,512 SF
Zoning
B1
Taxes and HOA fees
Annual Taxes
$7,729
Amenities
Natural Gas
Unfinished
Building Details
Building Size
1,512 SF
Year Built
1940
Listing Agency:
Halo Realty
Listed By:
KLAUDIA PIOTROWICZ · License #1648941
(732) 997-9650
Source:
Evrealestate
Added: Aug 31
Changed: Oct 10
Last Checked: Oct 12 at 7:37PM
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
Investment Insights
Based on property information with market context.
This storefront property at 36-38 W Somerset St was built in 1940. The interior is unfinished, and the building has natural gas service. B1 zoning is identified for the property.
Key Highlights
- Built in 1940
- B1 zoning
- Unfinished interior
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$21,581
Cap Rate
3.82%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$431,620
$431.6K
Cap Rate 7%
$308,300
$308.3K
Cap Rate 9%
$239,789
$239.8K
Market Conditions
NOI Build-Up for 1,512 SF
Gross rent
$32.7K $21.60/SF
− Vacancy
−$1.8K −$1.21/SF
EGI
$30.8K $20.39/SF
− OpEx
−$9.2K −$6.12/SF
NOI
$21.6K $14.27/SF
Area
Somerset 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%
$431,620
Cap Rate 7%
$308,300
Cap Rate 9%
$239,789
Alternative Uses
Best Use
Retail
$308.3K
$269.8K – $359.7K
NOI $21,581 @ 7.0% cap · market cap 3.82%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$394.8K
$345.5K – $460.6K
NOI $27,637 @ 7.0% cap · market cap 4.89%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
910
Businesses Nearby
59k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 56%
Dining 44%
Panera Bread
Dining
16,630 visits/mo
0.5 miles
QuickChek
Shops & Services
12,783 visits/mo
0.2 miles
TD Bank
Shops & Services
6,109 visits/mo
0.1 miles
7-Eleven
Shops & Services
5,924 visits/mo
0.5 miles
AutoZone
Shops & Services
5,726 visits/mo
0.4 miles
Demographics for 08869, NJ
7,835
Population
3,257
Households
2.4
Avg Household Size
39
Median Age
40%
College-Educated
90%
High-School Grad
2.0 sq mi
ZIP Area
3,918
Density / Sq Mi
$103,699
Median Household Income
$50,108
Median Earnings
$1,927
Median Rent
$449,200
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- House of Blooms — 812 Old York Rd, Raritan, NJ 08869
- SCOTT'S FLORIST — 73 W Somerset St, Raritan, NJ 08869
- House Of Blooms — 71 1st ave, raritan, nj 08869
Frequently Asked Questions
What type of property is this?
Storefront property - B1-zoned property offers an unfinished interior and natural gas service.
Where is this storefront property located?
The property is located at 36-38 W Somerset St Raritan, NJ.
What is the asking price?
The asking price for this property is $565,000.
What are key features of this property?
This property features: Built in 1940; B1 zoning; Unfinished interior
