Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Highland Park Mixed-Use Investment Title is generated by Realmo AI

    300 Raritan Avenue, Highland Park, NJ 08904

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    Mixed-use property with office, retail, and coffee shop units.

    Type:Office, Retail
    Added:
    Mar 15, 2024
    Days on Market:
    798
    Last Refresh:
    May 13 at 8:20 pm

    Property Features for 300 Raritan Avenue

    General Information

    Standard status
    Active
    Property subtype
    Office, Retail

    Building Details

    Year Built
    1922

    We can help!

    Listing Contact
    Connell Hutkin

    Listing agent Connell Hutkin

    Listing office CENTURY 21 J.J. Laufer

    Listing date Mar 15, 2024

    Source Crexi

    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 CENTURY 21 J.J. Laufer

    HighLights

    • Prime location in the heart of the city with high foot traffic and exposure.
    • Fully rented mixed‑use property with office spaces, retail storefronts, and a coffee shop.
    • Professional management in place.
    • Separate utilities for each unit.
    • Recently upgraded elevator and state‑of‑the‑art fire safety system.
    • Accessible elevator for convenience and compliance.

    Overview

    This mixed-use property is located in the heart of the city and features high foot traffic. The building includes 8 fully rented units, comprising office spaces, retail storefronts, and a coffee shop. The property benefits from professional management and separate utilities for each unit. An elevator provides accessibility. Recent upgrades include a new elevator and a fire safety system. This property is located in Highland Park.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Office Units

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Highland Park
    County
    Middlesex
    State
    New Jersey
    Longitude
    -74.4277894
    Latitude
    40.4989889

    Nearby Similar for Sale

    • $610,000
      2,138 SF

      Renovated Two-Family in Highland Park

      Move-in ready two-family near Rutgers University and transportation.
      319 Harper Place, Highland Park, NJ 08904
      View Details
    • $1,350,000
      4,200 SF

      Highland Park Commercial Office Building

      Prime commercial building suitable for medical or professional use.
      1001 Raritan Avenue, Highland Park, NJ 08904
      View Details
    • $275
      3,000 SF

      Highland Park Office Building

      Office building in premier location, ideal for professional business.
      24 N 3rd Avenue, Highland Park, NJ 08904
      View Details
    • $549,999
      1,202 SF

      Highland Park Multifamily Property

      Multifamily property in Highland Park, New Jersey.
      1309 Central Avenue, Highland Park, NJ 08904
      View Details
    • $4,500

      Highland Park Commercial Office Space

      Prime commercial office space suitable for medical or professional use.
      1001 Raritan Avenue, Highland Park, NJ 08904
      View Details
    • $200,000
      1,000 SF

      Established Antique Store on Main

      Turnkey antique store with high-end inventory in prime location.
      414 Raritan Street, Highland Park, NJ 08904
      View Details
    • $1,950
      1,200 SF

      Unique Office Space in Highland

      Prestigious office space with historic charm in Highland Park.
      433 River Road, Highland Park, NJ 08904
      View Details
    • $2,750
      510 SF

      Renovated Storefront on Raritan Avenue

      Recently renovated storefront with basement storage on busy street.
      227 Raritan Avenue, Highland Park, NJ 08904
      View Details
    • Contact for pricing
      4,800 SF

      Prime Retail/Office Space Available

      Highly visible ground-floor unit suitable for various commercial uses.
      223 Raritan Avenue #1, Highland Park, NJ 08904
      View Details
    • $988,888
      2,800 SF

      Highland Park Mixed-Use Property

      Mixed-use property with rental income and commercial potential.
      1149 Raritan Avenue, Highland Park, NJ 08904
      View Details
    • Contact for pricing
      1,200 SF

      Unique Office Space in Highland

      Prestigious office space with historic charm and modern functionality.
      433 River Road, Highland Park, NJ 08904
      View Details
    • Contact for pricing
      3,000 SF

      Highland Park Office Building For Sale

      Office building in premier location, ideal for professional business.
      24 N 3rd Avenue, Highland Park, NJ 08904
      View Details

    FAQs

    What type of property is this?
    Mixed-use property - Mixed-use property with office, retail, and coffee shop units.
    Where is this mixed-use property located?
    The property is located at 300 Raritan Avenue Highland Park, NJ.
    What is the asking price?
    The asking price for this property is $2,450,000.
    What are key features of this property?
    This property features: Prime location in the heart of the city with high foot traffic and exposure.; Fully rented mixed‑use property with office spaces, retail storefronts, and a coffee shop.; Professional management in place.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Connell Hutkin
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    300 Raritan Avenue, Highland Park, NJ 08904
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!