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Property profile & analytics
OFF-MARKET Estimated value $905,000
Commercial real estate

38 Somerset St 44 Raritan, NJ 08869-2030

6,720 SF 0.21 ac lot Built 1960
Entity Owned 4-yr Hold ~ Est. High Equity
Property ID
US59-0947959
Property summary
AI-generated overview

This exceptional 6,720 square foot commercial property, situated on a 0.21-acre lot at 38 W Somerset St in Raritan, NJ, presents a unique opportunity for businesses seeking a prominent location. Currently configured for optimal functionality, the space includes approximately 2,500 square feet ideal for retail or office use. The layout features several private offices, providing individual workspaces for enhanced productivity and privacy. A dedicated conference room facilitates efficient meetings and presentations, while a spacious bullpen area offers collaborative work space. A well-equipped kitchen adds convenience for staff and clients. The property's prime downtown Raritan location ensures high visibility and accessibility, making it an attractive option for a variety of businesses. The space is available for occupancy beginning October 1st, 2024. The asking price is $3,125,000. This is a rare opportunity to secure a well-appointed commercial space in a thriving New Jersey community. The ample square footage and versatile layout offer significant potential for customization to suit specific business needs. Don't miss this chance to establish your business in a highly desirable location. Contact us today to schedule a viewing and explore the possibilities.

Property profile
Verified
Property type Commercial real estate
Use group COMMERCIAL (GENERAL)
Year built 1960
Construction CONCRETE BLOCKS
Total area 6,720 SF
Lot 0.21 ac (9,000 SF)
APN 16 00090-0000-00022
UPID US59-0947959
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
  • O'Donnell Insurance Agency Insurance Agency
  • Nardy's Hair Salon Unisex Hair Salon Nail Salon
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
$935k
CAP Approach CAP
by Request
Comparable Approach Comparable
$1.12M
Blend (final) Blend
$905k
Owner & transaction history
38 44 Somerset LLC · 4 yrs held
38 44 Somerset LLC
since 2022
Last sale
$775,000
2 recorded transactions
2022
$775,000
1969
Price N/A
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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