Freestanding Retail Building with
438-440 Raritan Avenue Highland Park, NJ 08904
For Sale
$1,290,000
Freestanding corner retail building with storefront space, offices, multiple restrooms, and an upper-level hair salon.
Property Size6,200 SF
Price / SF$208.06
Days on Market123
Property Features for 438-440 Raritan Avenue
General Information
Standard status
Active
Size
6,200 SF
Property subtype
Commercial
Building Details
Year Built
1920
Listing Agency:
KHAHLIDRA HADHAZY PROP&ESTATES
Listed By:
MARY LAURANO
Source:
Corcoran
Added: Mar 27
Changed: Jul 23
Last Checked: Jul 27 at 7:56AM
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 KHAHLIDRA HADHAZY PROP&ESTATES
Investment Insights
Based on property information with market context.
This freestanding building offers retail storefront space at street level along with office area, three restrooms, and ample open space suitable for a range of uses. The ground floor also includes two loading areas to support practical day-to-day operations. An upper-level hair salon is in place, providing an existing tenant/operating use within the building.
The property is prominently positioned on a corner in the central business district of Highland Park. It provides approximately 67 feet of store frontage facing Raritan Ave (Route 27), with visibility on a high-traffic intersection.
With a total size of approximately 6,200 square feet, the building is configured as a two-level property combining street-facing retail and office components on the ground level with a specialized salon space above.
The property is prominently positioned on a corner in the central business district of Highland Park. It provides approximately 67 feet of store frontage facing Raritan Ave (Route 27), with visibility on a high-traffic intersection.
With a total size of approximately 6,200 square feet, the building is configured as a two-level property combining street-facing retail and office components on the ground level with a specialized salon space above.
Key Highlights
- Freestanding 6,200 SF corner retail building in the central business district of Highland Park
- 67 ft of store frontage along Raritan Ave (Route 27) at a high‑traffic intersection
- Ground level includes 4,800 SF of storefront space, offices, 3 restrooms, and 2 loading areas
Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $133.9k | $21.60 |
| − Vacancy | −$7.5k | −$1.21 |
| EGI | $126.4k | $20.39 |
| − OpEx | −$37.9k | −$6.12 |
| NOI | $88.5k | $14.27 |
6,200 SF · lease $21.60/SF/yr · vacancy 5.60% · expense 30.00%
Alternative Uses
Best Use
Retail
$1.26M
$1.11M – $1.47M
NOI $88,494 @ 7.0% cap · market cap 6.86%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.62M
$1.42M – $1.89M
NOI $113,326 @ 7.0% cap · market cap 8.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
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 - Freestanding corner retail building with storefront space, offices, multiple restrooms, and an upper-level hair salon.
Where is this storefront property located?
The property is located at 438-440 Raritan Avenue Highland Park, NJ.
What is the asking price?
The asking price for this property is $1,290,000.
What are key features of this property?
This property features: Freestanding 6,200 SF corner retail building in the central business district of Highland Park; 67 ft of store frontage along Raritan Ave (Route 27) at a high‑traffic intersection; Ground level includes 4,800 SF of storefront space, offices, 3 restrooms, and 2 loading areas
