49 Somerset St Raritan, NJ 08869-2011
Property Lookup
Property profile & analytics
49 Somerset St Raritan, NJ 08869-2011
- Commercial real estate
- 0.14 lot acres
Property ID
US59-2856406
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
- Mary's Convenience Store / Grocery & Convenience Store
- Raritan Pastry Shop / Bakery / Specialty Food Shop
Property Details for 49 Somerset St
- Year built
- 1920
- Construction
- FRAME
- Lot size
- 0.14 lot acres
- Property type
- Commercial real estate
- APN
- 16 00105-0000-00004
- APU
- 1600105000000004
Description
This exceptional mixed-use property, located at 49 W. Somerset Street in Raritan, New Jersey, presents a compelling investment opportunity. The 3,700 square foot building boasts a prime location in the heart of downtown Raritan, just four blocks from the Raritan Train Station, making it highly accessible for commuters and residents alike. The property is zoned B-1 (Central Business District) and sits on a 0.14-acre lot. The building is a two-story structure featuring approximately 3,700 square feet of space. Currently configured as a seven-unit property, it includes retail space on the first floor and six residential units on the second floor, generating a substantial net operating income (NOI) of $51,755. Ample parking is available both on Somerset Street and in a paved rear lot. Raritan is experiencing significant growth, transforming into a transit-oriented community, with several new apartment complexes recently constructed nearby. This strategic location on Raritan's main street, Somerset Street, places the property within walking distance of local restaurants, retail shops, services, a public library, a post office, and other residential and office buildings. The proximity to the NJ Transit train station further enhances its appeal and potential for future development or expansion. This property offers a unique blend of income-generating retail and residential components, making it an attractive investment in a thriving New Jersey community. The strong NOI and prime location make this a rare opportunity for investors seeking a stable and appreciating asset.
Value Estimations
based on Realmo’s proprietary methodology
-
AI approach
-
CAP approach
-
Comparable approach
-
Alternative Use
Get a detailed, property-specific estimation — fast and free
Location Insight
- Map
- Local Demand
- City
- Raritan
- County
- Somerset
- State
- New Jersey
- Longitude
- -74.635
- Latitude
- 40.5668
- 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
$13,000
$124,800
$345,200
$470,000
-
$124,800
$345,200
$470,000
