49 Somerset StRaritan, NJ 08869

For Sale
Call for price

7-Unit Mixed-Use Building, High NOI

Overview

Added:
Dec 11, 2024
Days on market:
93
This exceptional mixed-use property, located at 49 W. Somerset Street in Raritan, New Jersey, presents a compelling investment opportunity. The 3,700 square foot building boasts a prime location in the heart of downtown Raritan, just four blocks from the Raritan Train Station, making it highly accessible for commuters and residents alike. The property is zoned B-1 (Central Business District) and sits on a 0.14-acre lot. The building is a two-story structure featuring approximately 3,700 square feet of space. Currently configured as a seven-unit property, it includes retail space on the first floor and six residential units on the second floor, generating a substantial net operating income (NOI) of $51,755. Ample parking is available both on Somerset Street and in a paved rear lot. Raritan is experiencing significant growth, transforming into a transit-oriented community, with several new apartment complexes recently constructed nearby. This strategic location on Raritan's main street, Somerset Street, places the property within walking distance of local restaurants, retail shops, services, a public library, a post office, and other residential and office buildings. The proximity to the NJ Transit train station further enhances its appeal and potential for future development or expansion. This property offers a unique blend of income-generating retail and residential components, making it an attractive investment in a thriving New Jersey community. The strong NOI and prime location make this a rare opportunity for investors seeking a stable and appreciating asset.

Highlights

  • Prime downtown Raritan location, four blocks from the Raritan Train Station.

Property Details for 49 Somerset St

Property type
Other retail properties, Other mixed-use properties
Square Feet
3,700 SF
Stories
2
Lot Size (sq. ft)
6,098 SF
Units
7

Location Insight

City
Raritan
County
Somerset
State
New Jersey
Latitude
40.5668546
Longitude
-74.6350339
49 Somerset St, Raritan, New Jersey

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49 Somerset St
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