47 Raritan AveHighland Park, NJ 08904

Property Details for 47 Raritan Ave

Year built

1999

Construction

FRAME

Lot size

0.39 AC

Property size (Sq ft)

8,488 SF

Property type

Office buildings

APN

07 01704-0000-00054

APU

701704000000054

Description

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.

• CAP approach

  CAP return

  Valuation

  6%

  $1,403,320

  6.5%

  $1,295,372

  7%

  $1,202,846

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,109,042

  Geo Method

  $1,109,042

• Alternative Use

  Use

  Valuation

  Residential

  $1,606,262

  Hospitality

  $1,471,327

  Educational

  $1,224,127

  Medical

  $1,266,226

  Retail

  $1,904,197

Location Insight

City

Highland Park

County

Middlesex

State

New Jersey

Latitude

40.4983

Longitude

-74.4346

CBSA code

35620

CBSA name

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

Property Tax & Assessments

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