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119 Highway 202 10,000 SF Retail Building Raritan, NJ 08869 $4,958,500 ($495.85/SF) 6.50% Cap Rate
Executive Summary
PROPERTY HIGHLIGHTS
SALE PRICE $4,958,500
SALE PRICE PER SF $495.85
CAP RATE 6.5%
NOI $322,300.00
BUILDING SIZE +/- 10,000 SF
LOT SIZE 1.615 AC
PROPERTY TYPE Childcare
OCCUPANCY 100%
YEAR BUILT 2020
APN 1816_29_2
ZONING B-3, Raritan
Long-Term, Single-Tenant Double Net (NN) Investment
Tenant: The Learning Experience (TLE at Raritan, LLC)
20-Year Initial Lease Term with 15 Years Remaining
Two Five-Year Renewal Options
Nationally Recognized, Experienced, and Proven Operator
Fully Built-Out 10,000 SF Childcare Facility
Exceptional Visibility and Signage Exposure Along the US Routes 202/206
Corridor
Strategic Location with Convenient Access to Major Regional Thoroughfares,
Including US Routes 202, 206, and 22; NJ Route 28; and Interstate 287
Convenient Access to Numerous Nearby Business, Retail, and Service
Amenities
Ample On-Site Parking
SALE PRICE $4,958,500
SALE PRICE PER SF $495.85
CAP RATE 6.5%
NOI $322,300.00
BUILDING SIZE +/- 10,000 SF
LOT SIZE 1.615 AC
PROPERTY TYPE Childcare
OCCUPANCY 100%
YEAR BUILT 2020
APN 1816_29_2
ZONING B-3, Raritan
Long-Term, Single-Tenant Double Net (NN) Investment
Tenant: The Learning Experience (TLE at Raritan, LLC)
20-Year Initial Lease Term with 15 Years Remaining
Two Five-Year Renewal Options
Nationally Recognized, Experienced, and Proven Operator
Fully Built-Out 10,000 SF Childcare Facility
Exceptional Visibility and Signage Exposure Along the US Routes 202/206
Corridor
Strategic Location with Convenient Access to Major Regional Thoroughfares,
Including US Routes 202, 206, and 22; NJ Route 28; and Interstate 287
Convenient Access to Numerous Nearby Business, Retail, and Service
Amenities
Ample On-Site Parking
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Day Care Center
Building Size
10,000 SF
Building Class
B
Year Built
2020
Price
$4,958,500
Price Per SF
$495.85
Cap Rate
6.50%
NOI
$322,303
Tenancy
Single
Building Height
1 Story
Building FAR
0.14
Lot Size
1.60 AC
Zoning
B-3 - Commercial
Moderately walkable
60/100
Exceptionally drivable
100/100
Good public transit
60/100
Fairly bikeable
40/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 16-00029-0000-00002 | Improvements Assessment | $2,500,000 |
| Land Assessment | $2,200,000 | Total Assessment | $4,700,000 |
Property Taxes
Parcel Number
16-00029-0000-00002
Land Assessment
$2,200,000
Improvements Assessment
$2,500,000
Total Assessment
$4,700,000
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