46 E Somerset Street, Raritan, NJ 08869

$975,000
Property Type: Commercial Square Footage: 2,428 Lot Size (sq. ft.): 8,276 Status: Active
Current Price: $975,000 List Date: 9/04/2025 Last Modified: 9/26/2025

Overview

Description

SELLER SAYS ''Submit all Offers'' Nestled in very busy downtown Raritan Boro is an empty office building with a LEASE IN PLACE ! Raritan Foot and Ankle has moved out but is still paying the rent on the current lease until January 31, 2030. Paying a handsome cap rate of 6.01%, you may elect to renovate the building to your liking while collecting your rent !!

Listing Details MLS# 22526703

Contract Info

Property Sub-Type
Office
Sale
Yes
Lease
No
List Price/SqFt
401.57
New Construction
No

Location

House Number
46
Dir.
E
Street Name
Somerset
Street Suffix
Street
County
Somerset
Municipality
Raritan Boro (RAR)
Postal City
Raritan
State
NJ
Zip Code
08869
Area/Section
None
Complex/Subdivision
None
Directions
From US 22 West take the jug handle for 202/206 South towards Somerville. Turn left on Highway 206, (West End Avenue) then highway 206 South. Turn right on E Somerset Street and your destination is on your left.
Business District
Yes
Near Busstop
Yes
Near Rrtrans
Yes
Other - See Remarks
Yes

General Property Info

Handicap Access
Yes
# Levels
2
Available SqFt
2428
Office SqFt
2428
Apx SqFt
2428
Apx Year Built
1910
Garage
No
# Parking Spaces
10
Acreage
0.19
Business Name
Raritan Foot and Ankle
Business Operating
No
Franchise
No
Lease Expiration Date
2030-01-31
Farm
No
# Elevators
0
# Car Garage
0

Tax and Legal

Deed Restricted
No
Special Assessment
No
Taxes
8915
Tax Year
2024
Asmnt - Total
0

Income & Expenses

# Rental Units
Yes
Financials Per
Year
Net Operating Income
58609.46
Insurance
3523.9
Mgmt Fee
6000
Repair/Maintenance
30000
RE Taxes
8915
Total Expenses
49787.28
Other Exp Desc 1
459.00

Use

Medical
Yes
Professional Service
Yes
Professional/Office
Yes

More Information

Zoning

Central Business
Yes
Commercial
Yes
General Highway
Yes
Office
Yes
Professional
Yes

Lot Description

Curbing
Yes
Highway Frontage
Yes
Landscaped
Yes
Level
Yes
Sidewalks
Yes

Floors

Wood
Yes

Electric

Other - See Remarks
Yes

Basement

Heated
Yes
Partially Finished
Yes
Tenant Access
Yes

Gas

At Street
Yes

Water Heater

Electric
Yes
Natural Gas
Yes

Heating

Electric
Yes

Water

Public Water
Yes

Sewer

Public Sewer
Yes
Storm Sewers
Yes

Exterior

Handicapped
Yes
Security System
Yes
Sign
Yes

Common Elements

Landscaping
Yes
Management
Yes

Parking

Lighted
Yes
On Site
Yes
Parking Lot
Yes
Paved
Yes

Assessment Status

Assessed
Yes

Financing

Cash
Yes

Construction/Siding

Vinyl
Yes

Roof

Shingle
Yes
Sloped
Yes

Sale Excludes

Business Name
Yes
Signs
Yes

Documents Available

Lease
Yes

Property Features

Location: Business District; Near Busstop; Near Rrtrans; Other - See Remarks; Business District; Near Busstop; Near Rrtrans; Other - See Remarks Use: Medical; Professional Service; Professional/Office Floors: Wood Basement: Heated; Partially Finished; Tenant Access Heating: Electric Water Heater: Electric; Natural Gas Water: Public Water Sewer: Public Sewer; Storm Sewers Gas: At Street Electric: Other - See Remarks Exterior: Handicapped; Security System; Sign Parking: Lighted; On Site; Parking Lot; Paved Roof: Shingle; Sloped Sale Excludes: Business Name; Signs Zoning: Central Business; Commercial; General Highway; Office; Professional Lot Description: Curbing; Highway Frontage; Landscaped; Level; Sidewalks Common Elements: Landscaping; Management Assessment Status: Assessed Documents Available: Lease Financing: Cash
Listing Office: C21/ Action Plus Realty
Listing Agent: Robert Skinner
IDX
Source MLS Verified
Last Updated: September - 26 - 2025
The data relating to real estate on this web site comes in part from the Internet Data Exchange program of the MLS of the Monmouth Ocean Regional REALTORS®, and site contains live data. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.