34 E Somerset St Raritan, NJ 08869
Property Lookup
Property profile & analytics
34 E Somerset St Raritan, NJ 08869
- Commercial real estate
- 4,900 SF
- 0.42 lot acres
Property ID
US59-0290175
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.
Location Intelligence
Current Use by Public Records
- Morristown Memorial Wound Care: Cooper David MD / Physician
- Morristown Memorial Wound Care: Atlas Arthur MD / Physician
- Shah Ashish MD / Physician
- Morristown Memorial Wound Care: Assefa Dagnachew MD / Physician
- Morristown Memorial Wound Care: Benning Kathleen M DO / Physician
Property Details for 34 E Somerset St
- Year built
- 1985
- Construction
- BRICK
- Lot size
- 0.42 lot acres
- Property size
- 4,900 SF
- Property type
- Commercial real estate
- APN
- 16 00109-0000-00001- 01
- APU
- 160010900000000101
Description
This exceptional retail property, located at 34 E Somerset Street in Raritan, New Jersey, presents a compelling investment opportunity. Boasting a generous 4,868 square feet of space, this property is ideally situated for a variety of retail businesses. The building sits on a sizable 0.52-acre lot, offering ample room for customer parking and potential expansion. Its prime location in Raritan ensures high visibility and accessibility, attracting significant foot traffic and driving potential sales. The asking price is $1,700,000, representing a strong value proposition for a property of this size and location in a thriving New Jersey market. The property's substantial square footage allows for flexible layout configurations, catering to diverse business needs. This presents a unique chance to establish or expand a retail presence in a vibrant community. The 0.52-acre lot provides ample space for outdoor displays, seating areas, or additional parking, enhancing the overall customer experience. Serious inquiries are encouraged to explore this exceptional retail opportunity further. The property is ready for immediate occupancy, allowing for a swift and efficient transition for new business owners. Don't miss this chance to secure a prime retail location in a desirable New Jersey town.
Value Estimations
based on Realmo’s proprietary methodology
-
CAP approach
- CAP Return
- Estimation
- 6%
- $1,370,000
- 6.5%
- $1,265,000
- 7%
- $1,175,000
-
Comparable approach
- Method
- Estimation
- AI Estimate
- $898,000
Market price range: $382k - $899k -
Alternative Use
- Use
- Estimation
- COMMERCIAL (GENERAL)
- $1,255,000 Current use
- OFFICE BUILDING
- $1,010,000 Change: -19% Conversion: Easy
Get a detailed, property-specific estimation — fast and free
Location Insight
- Map
- Local Demand
- City
- Raritan
- County
- Somerset
- State
- New Jersey
- Longitude
- -74.6307
- Latitude
- 40.5682
- 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
$41,490
$181,500
$1,318,500
$1,500,000
-
$181,500
$1,318,500
$1,500,000
