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34 E Somerset St
Raritan, NJ 08869
Retail Property For Sale
INVESTMENT HIGHLIGHTS
- 2024 Deposits: $339,493,000 (Top 10% performer system-wide)
- Commitment to Location: TD Bank has just exercised its next option to renew and has operated at this location since 2009 with one (1) 5-year option re
- 2% Annual Rental Increases
- TD Bank ( NYSE: TD) has a top tier credit rating: Rated “AA-” by S&P & Rated “A1” by Moody’s
EXECUTIVE SUMMARY
Equity CRE is pleased to exclusively offer for sale or lease, a value add property currently occupied by TD Bank, who has recently extended the lease. TD Bank has operated at this location for nearly 15 years and has recorded $300 M+ in deposits in each of the last 4 years. The building comes with an additional ±2,738 SF of vacant space formerly occupied by a medical office on the first floor and ±4,000 SF of vacant space on the lower level. The property is equipped with two drive-thru lanes and ample off-street parking.
The Subject Property is on Somerset Street (Route 626), just off Route 206 and the Somerville Circle, a major retail corridor and commuter thruway. The property benefits from its location in the market and visibility, making it a strong retail or office location.
The Subject Property is on Somerset Street (Route 626), just off Route 206 and the Somerville Circle, a major retail corridor and commuter thruway. The property benefits from its location in the market and visibility, making it a strong retail or office location.
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Bank
Building Size
4,800 SF
Building Class
C
Year Built
1960
Price
$1,500,000
Price Per SF
$312.50
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.22
Lot Size
0.51 AC
Zoning
N/Av
Parking
45 Spaces (9.38 Spaces per 1,000 SF Leased)
Frontage
PROPERTY TAXES
| Parcel Number | 16-00109-0000-00001-01 | Improvements Assessment | $1,318,500 |
| Land Assessment | $181,500 | Total Assessment | $1,500,000 |
PROPERTY TAXES
Parcel Number
16-00109-0000-00001-01
Land Assessment
$181,500
Improvements Assessment
$1,318,500
Total Assessment
$1,500,000
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