Property profile

47 Raritan Ave Highland Park, NJ 08904

FOR LEASE
Office buildings
Property ID
US59-2126751
8,488 SF 0.39 ac lot Built 1999
Entity Owned 3-yr Hold ~ Est. High Equity
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Property summary

AI-generated overview

This exceptional commercial property, located at 47 Raritan Avenue, presents a unique opportunity for a single tenant seeking a highly efficient and conveniently located executive office space. The property is classified as both retail and office, offering versatility for a variety of business needs. The total square footage of the building is one square foot, making it ideal for a small, focused operation or a satellite office. The space is currently vacant and ready for immediate occupancy. Given its single-tenant configuration, the property offers complete privacy and control over the environment. The address, 47 Raritan Avenue, provides excellent visibility and accessibility, contributing to a strong business presence. This listing represents a rare chance to secure a highly desirable, compact, and strategically positioned executive office space in a prime location. The property's classification as both retail and office suggests potential flexibility in its usage, subject to local zoning regulations. Interested parties are encouraged to conduct their own due diligence regarding permitted uses. The compact size of the property makes it an economical choice for businesses with minimal space requirements. The "For Lease" status indicates immediate availability. Further details regarding lease terms and conditions are available upon request.

Property profile

Verified
Property type Office buildings
Use group OFFICE BUILDING
Year built 1999
Construction FRAME
Total area 8,488 SF
Lot 0.39 ac (16,800 SF)
APN 07 01704-0000-00054
UPID US59-2126751

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Location

47 Raritan Ave Highland Park, NJ 08904
Highland Park metro Census 1100 NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA
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Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$2.73M
CAP Approach CAP
$2.13M
Comparable Approach Comparable
$3.01M
Blend (final) Blend
$2.75M

Owner & transaction history

since 2022
Last sale
$2.6M
5 recorded transactions
2022
$2.6M
2021
Price N/A
2019
$1.9M
2017
Price N/A
1969
Price N/A

Zoning & alternative use

Top alternative use upside
Commercial (general) $2.4M +2.5%

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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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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