Raritan Borough Leased
46 E Somerset Street E Raritan, NJ 08869
46 E Somerset Street E, Raritan, NJ, 08869
$975,000
For Sale
$975,000
Fully leased building in Raritan Borough with renovation potential.
Property Size2,428 SF
Price / SF$401.57
Days on Market320
Property Features for 46 E Somerset Street E
General Information
- Standard status
- Active
- Size
- 2,428 SF
- Property subtype
- Commercial
Building Details
- Year Built
- 1910
Listing Agency
ACTION PLUS REALTY C-21
(800) 299-2129
Listed by
ROBERT SKINNER · License #1863829
Source
Corcoran
Added: Sep 4, 2025 Checked: Jul 20 at 6:38 am
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 ACTION PLUS REALTY C-21
Investment Insights
Based on property information with market context.
Located in the downtown Raritan Borough neighborhood, this building is fully leased but currently empty, offering the possibility of renovations while collecting rent. The property features 5 exam rooms, 10 parking spaces including one handicapped space, a kitchen/break room, and 2 bathrooms. Additional features include a basement, attic, and original hardwood floors upstairs. The building provides ample office and storage space. The property has a 6.01% cap rate.
Key Highlights
- Fully leased building provides immediate rental income during renovations.
- Attractive 6.01% Cap Rate.
- Located in the downtown Raritan Borough neighborhood.
Local Financial Insights For Office B
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 | $72.8k | $30.00 |
| − Vacancy | −$23.3k | −$9.60 |
| EGI | $49.5k | $20.40 |
| − OpEx | −$12.4k | −$5.10 |
| NOI | $37.1k | $15.30 |
2,428 SF · lease $30.00/SF/yr · vacancy 32.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$530.7K
$464.4K – $619.1K
NOI $37,148 @ 7.0% cap · market cap 3.81%
Second Best
Healthcare Medical
$516.5K
$451.9K – $602.5K
NOI $36,152 @ 7.0% cap · market cap 3.71%
Theoretical Best
Office A
$634.0K
$554.8K – $739.7K
NOI $44,380 @ 7.0% cap · market cap 4.55%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Rubio Dental Clinic
Dental Office
Ronald Francesco, DPM
Physician
Raritan Foot & Ankle ...
Medical Clinic
Ali El-Saheli
Physician
Tony DiStefano
Physician
Similar For Sale Nearby
Similar Off Market Nearby
- AnimERge — 21 US-206, Raritan, NJ 08869
- Nancy Gruber — 21 US-206, Raritan, NJ 08869
- Animerge: Newton Dean DVM — 21 US-206, Raritan, NJ 08869
- Barbara Guy — 21 US-206, Raritan, NJ 08869
- Peggy Hauck — 21 US-206, Raritan, NJ 08869
FAQs
What type of property is this?
Medical Office Space - Fully leased building in Raritan Borough with renovation potential.
Where is this medical office space located?
The property is located at 46 E Somerset Street E Raritan, NJ.
What is the asking price?
The asking price for this property is $975,000.
What are key features of this property?
This property features: Fully leased building provides immediate rental income during renovations.; Attractive 6.01% Cap Rate.; Located in the downtown Raritan Borough neighborhood.
