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51 W Somerset St Raritan, NJ $ 495,000
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$ 495,000 Get more info
51 W Somerset St
$ 495,000
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Share Save

51 W Somerset St

Raritan, NJ, 08869
$ 495,000
Baths0.2

Monthly Estimate*

$ 3,458

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Studio

Commercial Property for sale in Raritan, NJ

for $495,000 with 2 half baths. This building was built in 1940 on a lot size of 0.06.

Price Reduced! Location! Location! Location! In the middle of thriving Raritan downtown next to Somerville. Amazing Mix Use Building. 1st Floor is a Retail Store. 2nd Floor is a 2 Bedroom Apartment with Rental Income. Large Storage Shed & Parking in Back. Price includes Building + Restaurant Business with All Equipment. New owners can continue the Award winning 37 Year Old Restaurant or Rent out both Units & Collect Rent. Low Taxes. Rent is under market. Potential Rental Income $45,600. Building is only 4 Blocks to Raritan Train Station, just a short 6 minutes walk. Plus access to a Great School System. Motivated Seller, make offer.

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Commercial Active

Price

$ 495,000

Bedrooms

Studio

Half Bath

2

Property Type

Commercial

Taxes

$ 5,982

Style

Store With Apartment

Lot Size

0.06

Year Built

1940

Town/City

Raritan

County/Region

Somerset

MLS | Web ID

3885306
Features
General
Sewer Public Sewer
Construction See Remarks
Heating Forced Hot Air Radiators - Steam
Cooling Central Air Window A/C(s)
Utilities Electric Gas-Natural
Possession At Closing
Roof Asphalt Shingle
Zoning Bus
Garage Spaces 3
Year Built 1940
Township Raritan Boro
Property Type Mixed Use Restaurant Store With Apartment Store With Apartment
Tax Year 2022
Percent Ownership Fee Simple
Location Business District
Gross Income 45600
County Somerset
Net Operating Income 34218
Operating Expense 11382
Subdivision Name Downtown
Status Active
Directions Rte 287 or Rte 22 to Rte 206 to Somerset St.
Total Units 2
Street Name W Somerset St
Tax Annual Amount 5982
Drive Blacktop
Leasable Area 0
Days on Market 90
Standard Status Active
Tax Assessed Value 216300
Town # 2716
Tax Lot 3
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Interior
Basement Unfinished
Flooring Laminate
Fuel Type Gas-Natural
Total Stories 2
Half Baths 2
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Exterior
Lot Features Level Lot
Water Source Public Water
Total Parking 3
Exterior Description Vinyl Siding
Building Area Total 0
Lot Dimensions 22X120
Lot Size Acres 0.06
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* Excluded Features
List By
NADEEM QAVI

Listing Agent

Re/Max Competitive Edge

Broker

nadeem@njhomezone.com

Email

Affordability Calculator

$3,956
Per Month
87%
13%
0%
Monthly Principal & Interest
$3,458
Monthly Property Taxes
$499
Monthly Home Insurance
--
Default based on a 30-year fixed rate of 7.49% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
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The time to sell is now
THE TIME TO SELL IS NOW!
Nearby
291163 Elementary School
291353 Middle School
Unknown High School High School
See complete school information
Pricing History
DatePricePrice ChangeDescription
2/9/2024$495,000 Listed Price

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51 W Somerset St, Raritan, NJ, 08869 is a Commercial Property for sale at $495,000 with a lot size of 0.06. 51 W Somerset St is a studio with 0.2 baths and was built in 1940. The property's zip code is 08869 which is in Raritan, NJ

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