Listing Agency: BHHS FOX & ROACH

Listed By: TIM DELUCCIA 908-938-6405 · License #8243435 Show Phone

Source: Brentsellsnj

Added: Sep 15, 2025 Changed: Oct 1 Last Checked: Oct 12 at 8:10PM

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Investment Insights

Based on property information with market context.

This 12,000 square foot commercial building features six overhead doors, a tailboard, and a 2,000 square foot showroom/office area. It also includes storage areas, a high-capacity outside elevator/lift, and heavy power. The property benefits from high visibility due to its location near Somerville Circle, with building signage available. Over 50,000 vehicles pass the site daily. It is located in a B-3 zone and currently operates as a turnkey wood-working cabinet shop. Permitted uses include auto-related businesses, garages, equipment sales/rental, general business, retail, and plumbing/HVAC contractor shops.

Key Highlights

• 12,000 SF Commercial Building in High Visibility Location (50,000+ Vehicles Per Day)
• B‑3 Zone with Permitted Uses: Auto Related, Garage, Retail, Contractors Shop, etc.
• Six (6) Overhead Doors and Tailboard Loading

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$134,691

Cap Rate

7.09%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,693,820 $2.7M

Cap Rate 7%

$1,924,157 $1.9M

Cap Rate 9%

$1,496,567 $1.5M

Market Conditions

NOI Build-Up for 12,000 SF

Gross rent

$204.5K $17.04/SF

− Vacancy

−$12.1K −$1.01/SF

EGI

$192.4K $16.03/SF

− OpEx

−$57.7K −$4.81/SF

NOI

$134.7K $11.22/SF

Area

Somerset County, NJ

Vacancy

5.90%

Lease Rate

$17.04 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,693,820

Cap Rate 7%

$1,924,157

Cap Rate 9%

$1,496,567

Alternative Uses

Best Use

Flex RnD

$2.57M

$2.25M – $3.00M (±1% cap)

NOI $180,049 @ 7.0% cap · market cap 9.48%

Second Best

Industrial

$1.92M

$1.68M – $2.24M (±1% cap)

NOI $134,691 @ 7.0% cap · market cap 7.09%

Theoretical Best

Office A

$3.13M

$2.74M – $3.66M (±1% cap)

NOI $219,341 @ 7.0% cap · market cap 11.55%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Flex space

Suggested Use

Top Pick Real Estate Agency Computer & Electronic Repair (Bike/Boat/Book/etc) Store Storage Facility Electrical Service Garden Center

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

1,077

Businesses Nearby

Under-served

Demand for This Use

Explore this area Business Placement

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 Industrial in Northeast region

5.4% 2019

4.6% 2020

3.2% 2021

3.3% 2022

5.3% 2023

6.6% 2024

7.6% 2025

Questions? Ask Rey

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What type of property is this? Where is this flex space located? What is the asking price? Find similar properties What are key features of this property?

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Similar Off Market Nearby

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Frequently Asked Questions

What type of property is this?

Flex space - 12,000 SF commercial building near Somerville Circle.

Where is this flex space located?

The property is located at 401 Us Highway 202 Raritan, NJ.

What is the asking price?

The asking price for this property is $1,899,000.

What are key features of this property?

This property features: 12,000 SF Commercial Building in High Visibility Location (50,000+ Vehicles Per Day); B‑3 Zone with Permitted Uses: Auto Related, Garage, Retail, Contractors Shop, etc.; Six (6) Overhead Doors and Tailboard Loading