Kelly Bayer of NAI DiLeo-Bram & Co. facilitates mixed-use portfolio sale in Raritan, NJ

Raritan, NJ — NAI DiLeo-Bram & Co. (NAIDB) recently facilitated the sale of a two-building mixed-use package located at 54 and 13 W. Somerset St. in Raritan. Associate VP Kelly Bayer represented the unnamed seller of the two separate buildings in the transaction.

Situated at the corner of West Somerset and Wall streets within the municipality’s main business corridor, the portfolio includes 10 apartment units, four commercial suites and a shared parking lot. NJ Transit’s Raritan Station is within a five-minute walk. Nearby retailers include a florist, bridal boutique, restaurants, hair salons and barbers and a coffee house.

“This portfolio represented a unique opportunity for an investor seeking exposure in a town that is growing rapidly in both population and commerce,” said Bayer. “While both properties are in excellent condition, they also anchor a prominent corner in Raritan’s blossoming central business district. As a result, the portfolio has a sustained upper-tier occupancy rate, underscoring its enduring appeal and sought-after locale.”

The ongoing transformation of downtown Raritan and the area around the train station continues to fuel demand for mixed-use properties. The recent development of large apartment complexes in the area, such as the Crossings at Raritan Station and The Lena, has fed a growing population pipeline.