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46 E Somerset St 2,600 SF Office Building Raritan, NJ 08869 $975,000 ($375/SF) 6.01% Cap Rate
Investment Highlights
- Within walking distance of the train station.
- Property is an office/medical building located in the downtown Raritan Borough business district.
- Features wheelchair accessibility and offers flexibility for future renovations while collecting rent.
- In close proximity to all major highways.
- Configuration includes multiple exam rooms, storage areas, basement, attic, and parking for nine vehicles.
Executive Summary
This charming building located in busy downtown Raritan boasts 5 exam rooms, a nicely maintained parking lot, storage galore, a basement and attic. The current tenant “Raritan Foot and Ankle” moved out and the lease ends in 2031. This is the perfect time to renovate while collecting your rent! Near highways 295, 202/206 and the local New Jersey Transit Train Station and other points of interest. A wonderful opportunity here!! Reach me for more upcoming details!! Accessible by Supra lockbox or master lock box, call or text listing agent Robert Skinner - 732-492-8419 to schedule showings.
Property Facts
Sale Type
Investment or Owner User
Property Type
Office
Property Subtype
Medical
Building Size
2,600 SF
Building Class
B
Year Built
1910
Price
$975,000
Price Per SF
$375
Cap Rate
6.01%
NOI
$58,598
Tenancy
Single
Building Height
2 Stories
Typical Floor Size
1,300 SF
Building FAR
0.31
Lot Size
0.19 AC
Zoning
R-3 - Medium-density residential district
Parking
9 Spaces (1.8 Spaces per 1,000 SF Leased)
Amenities
- Wheelchair Accessible
- Smoke Detector
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease End
- Raritan Foot & Ankle Care
- Health Care and Social Assistance
- -
- -
- -
| Tenant | Industry | SF Occupied | Rent/SF | Lease End | ||
| Raritan Foot & Ankle Care | Health Care and Social Assistance | - | - | - |
Moderately walkable
60/100
Exceptionally drivable
90/100
Good public transit
60/100
Moderately bikeable
70/100
Property Taxes
| Parcel Number | 16-00110-0000-00003 | Improvements Assessment | $158,000 |
| Land Assessment | $164,300 | Total Assessment | $322,300 |
Property Taxes
Parcel Number
16-00110-0000-00003
Land Assessment
$164,300
Improvements Assessment
$158,000
Total Assessment
$322,300
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46 E Somerset St
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