90 Somerset StRaritan, NJ 08869

Property Details for 90 Somerset St

Year built

2006

Construction

BRICK

Lot size

0.30 AC

Property size (Sq ft)

3,096 SF

Property type

Commercial real estate

APN

16 00112-0000-00003

APU

1600112000000003

Description

Raritan Crossing, located at 90 E Somerset St, Raritan, NJ 08869, offers exceptional medical office space in a thriving Somerset County location. This three-building retail strip center encompasses 62,955 square feet and features 21 units. Four spaces are currently available, ranging from 1,500 to 4,278 square feet, perfect for a variety of medical practices. The property boasts 153 parking spaces, ensuring ample convenience for patients and staff. Situated on Route 206, Raritan Crossing benefits from high visibility and exceptional daily traffic counts, averaging 35,000 vehicles. Its strategic location near Routes 202 and 22, and Interstates 78 and 287, provides easy access for patients from Bridgewater, Somerville, Raritan, and surrounding areas within one of New Jersey's most prosperous counties. This property presents a unique opportunity to establish or expand a medical practice in a high-traffic, easily accessible location within a well-established retail center. The property is classified as Retail, Restaurant, and Office, with a subtype of Medical Office and Instructional. The tenancy is multiple.

• CAP approach

  CAP return

  Valuation

  6%

  $580,109

  6.5%

  $535,486

  7%

  $497,237

• Comparable approach

  Method

  Valuation

  Relative Method

  $404,523

  Geo Method

  $404,523

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $1,054,250

  Retail / Commercial

  $540,613

  Mixed-Use / Specialty

  $538,686

  Hospitality / Lodging

  $395,217

  Office

  $535,486

  Institutional / Educational

  $560,016

  Residential Income

  $655,219

  Multifamily

  $785,834

  Automotive / Energy

  $480,014

  Parking / Income-Based Land

  $165,647

  Restaurant / Food Service

  $280,175

  Healthcare / Senior Housing

  $552,412

Location Insight

City

Raritan

County

Somerset

State

New Jersey

Latitude

40.5693

Longitude

-74.626

CBSA code

35620

CBSA name

NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

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