Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1162 Raritan Rd Clark, NJ 07066-1311

    • Commercial real estate
    • 1,820 SF
    • 0.14 lot acres
    OFF-MARKET
    Last Sale
    Oct 08, 2020
    $466,000
    Value Estimations
    $515,000
    Show details
    Cap Rate Potential
    3.4%
    Commercial real estate
    Location Intelligence
    Property ID
    US59-2789077
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Aesthetics Lounge NJ / Spa And Health Club
    • Dreyco Beauty inside Aesthetics lounge / Skin Care Clinic
    • Aesthetics Lounge / Facial Spa / Life Coach
    • Choice Hair Designs / Waxing Hair Removal Service / Beauty Salon

    Property Details for 1162 Raritan Rd

    Year built
    1962
    Construction
    FRAME
    Lot size
    0.14 lot acres
    Property size
    1,820 SF
    Zone code
    CN
    Property type
    Commercial real estate
    APN
    02 00060-0000-00025
    APU
    200060000000025

    Description

    This exceptional commercial property, situated at 1162 Raritan Road in Clark, New Jersey, presents a unique investment opportunity. The 0.138-acre lot houses a fully renovated, 1,820 square foot building, ideally suited for a variety of commercial uses. The property boasts two separate retail units within a single structure, offering flexibility for multiple tenants or a single, larger operation. Its prime location on Raritan Road ensures high visibility and accessibility, attracting significant foot traffic. Ample on-site parking is available for customers and employees. Previously operating as a thriving salon and spa, the building's adaptable layout makes it suitable for a range of businesses, including medical offices or other professional services. The asking price is $695,000, representing a compelling entry point into the vibrant Clark commercial market. This property is perfect for businesses seeking expansion or investors looking for a strong return. The property's versatility and prime location make it an attractive option for a variety of commercial ventures. The building's recent renovation ensures it is move-in ready, minimizing upfront costs and maximizing immediate occupancy. This is a rare opportunity to acquire a well-located, versatile commercial property in a thriving New Jersey market. The zip code is 07066, and the property is located in Union County.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $705,000
      ML approach
      $700,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $400,000
      6.5%
      $370,000
      7%
      $345,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $585,000
      Market price range: $450k - $824k

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Clark
    County
    Union
    State
    New Jersey
    Longitude
    -74.3118
    Latitude
    40.6298
    CBSA code
    35620
    CBSA name
    NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2022
    $9,239
    $235,000
    $201,200
    $436,200
    -
    $235,000
    $201,200
    $436,200

    Comparable in this City

    • Value Estimation
      $705,000
      4.45 Acres

      360 Central Ave

      COMMERCIAL (GENERAL) • 4.45 Acres
      360 Central Ave, Clark, NJ 07066-1122
      View Details
    • Value Estimation
      $530,000
      0.66 Acres

      232 Gibson Blvd

      COMMERCIAL (GENERAL) • 0.66 Acres
      232 Gibson Blvd, Clark, NJ 07066
      View Details
    • Value Estimation
      $540,000
      1.29 Acres

      1100 Raritan Rd

      COMMERCIAL (GENERAL) • 1.29 Acres
      1100 Raritan Rd, Clark, NJ 07066-1313
      View Details
    • Value Estimation by Request
      0.45 Acres

      1183 Raritan Rd

      COMMERCIAL (GENERAL) • 0.45 Acres
      1183 Raritan Rd, Clark, NJ 07066-1308
      View Details
    • Value Estimation by Request
      0.66 Acres

      26 Westfield Ave

      COMMERCIAL (GENERAL) • 0.66 Acres
      26 Westfield Ave, Clark, NJ 07066-3226
      View Details
    • Value Estimation
      $1,580,000
      7,726 SF

      1065 Raritan Rd

      COMMERCIAL (GENERAL) • 7,726 SF
      1065 Raritan Rd, Clark, NJ 07066-1316
      View Details

    Similar Nearby for Lease

    • $21 SF/Yr
      1,181 SF

      Clark Office Space For Rent

      Office space available for lease in Clark, New Jersey.
      67 Walnut Ave, Clark, NJ 07066
      View Details
    • $17 SF/Yr
      40,880 SF

      Industrial Flex Space in Clark

      40,880 SF flex/industrial space available for lease.
      133 Terminal Ave, Clark, NJ 07066
      View Details
    • $21 SF/Yr
      4,844 SF

      Clark Office Space For Rent

      Office space available for lease in Clark, New Jersey.
      77 Brant Ave, Clark, NJ 07066
      View Details
    • $21 SF/Yr
      4,350 SF

      Clark Office Space For Rent

      4,350 SF office space available for lease.
      60 Walnut Ave, Clark, NJ 07066
      View Details
    • Contact for pricing
      4,000 SF

      Land in Central Clark, NJ

      Land available for rent in Clark, New Jersey.
      128 Central Ave, Clark, NJ 07066
      View Details
    • $4,000 /Mo
      7,405 SF

      Clark Twp. Commercial Office Space

      Well-maintained office space in high-visibility location, flexible layout.
      30 Brant Ave, Clark, NJ 07066
      View Details
    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.
    1162 Raritan Rd
    Clark, NJ 07066-1311
    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

    Google sign-in failed. Please try again or use another login method.