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Property profile & analytics
FOR LEASE
Commercial real estate

34 E Somerset St Raritan, NJ 08869

4,900 SF 0.42 ac lot Built 1985
Entity Owned 23-yr Hold Absentee Owner ~ Est. High Equity
Property ID
US59-0290175
Property summary
AI-generated overview

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.

Property profile
Verified
Property type Commercial real estate
Use group COMMERCIAL (GENERAL)
Year built 1985
Construction BRICK
Total area 4,900 SF
Lot 0.42 ac (18,375 SF)
APN 16 00109-0000-00001- 01
UPID US59-0290175
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · 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
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
$1.27M
Comparable Approach Comparable
$899k
Blend (final) Blend
$1.11M
Owner & transaction history
FL REALTY
FL REALTY
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
More about this property
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