47 Raritan AveHighland Park, NJ 08904

  • Office properties
  • 8,488 SF
For Lease

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 properties
Property subtype
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.

Valuation
by Paperhouses methods

Valuation date:
Dec 11, 2024
  • 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
47 Raritan Ave, Highland Park, New Jersey

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

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
$41,472
$800,000
$1,600,000
$2,400,000
-
$800,000
$1,600,000
$2,400,000

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?
Please email our support team at [email protected] and they will add the team member.
How do I access a private listing?
Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.
How can I contact the broker?
We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
How do I unsubscribe from emails?
At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].