34 Somerset StRaritan, NJ 08869

This fee-simple retail property in Raritan, NJ, presents a compelling value-add investment opportunity. The 4,868 square foot building, constructed in 1985, sits on a 0.52-acre lot and features a single story with one building and two units. Currently 50% occupied by TD Bank, a tenant with a strong track record (2024 deposits exceeding $339 million), under a gross lease with 5 years remaining and a 5-year option. The lease includes annual rent bumps of 2%. The property boasts 2,738 square feet of vacant space on the first floor, plus an additional approximately 4,000 square feet of vacant lower-level space, previously used as a medical office. The convenient location on Somerset Street (Route 626), near Route 206 and the Somerville Circle, offers high visibility and access to a major retail corridor and commuter route. The property is zoned B-1 (Central Business District) and includes 31 parking spaces and two drive-thru lanes. The asking price is $1,700,000, translating to $349.22 per square foot. This property offers significant upside potential through lease-up of the vacant space and strong existing income from a creditworthy tenant. The property's location and existing infrastructure make it suitable for a variety of retail or office uses.