Strip Center with Multiple
22 Lewis Street Unit 5 Eatontown, NJ 07724
22 Lewis Street Unit 5, Eatontown, NJ, 07724
$1,190,000
For Sale
$1,190,000
Well-leased strip center opportunity with several long-term tenants and a dedicated on-site municipal parking lot.
Days on Market591
Property Features for 22 Lewis Street Unit 5
General Information
- Standard status
- Active
- Property subtype
- Commercial
Building Details
- Year Built
- 1910
Listing Agency
PK PROPERTY INC.
Listed by
Peter Han
Source
Deepcreeklake
Added: Dec 7, 2024 Updated: Jul 10 at 3:59 pm Checked: Jul 20 at 6:27 am
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of PK PROPERTY INC.
Investment Insights
Based on property information with market context.
This for-sale strip center is fully leased to five commercial tenants. The current tenant mix includes a pizza restaurant under a recently signed 10-year lease at $2,500 per month and an electronic smoke (cigar & cigarette accessories) tenant under a recently signed 15-year lease at $2,400 per month, both reportedly being redecorated. Other tenants include a hair salon at $1,020 per month on a month-to-month basis, and a dry cleaner at $1,550 per month with renewal noted as available when a remaining term expires. Unit 5 is leased at $1,500 per month to a dance studio.
The property provides access to a municipal parking lot that accommodates approximately 50 cars. The parking lot is owned by the township, and the township is responsible for cleaning, real estate tax and insurance, snow removal, and related expenses. The remarks indicate the parking lot is available for public use and does not belong to the seller.
For investors and owner-operators, the income profile is supported by an annual gross rental income of $105,240 with annual expenses of $21,000, resulting in net annual rental income of $84,240 as stated in the offering information. Several tenants are described as having been in place for years, and the landlord’s ability to obtain new tenants is referenced where applicable, including for the hair salon on month-to-month terms.
The property provides access to a municipal parking lot that accommodates approximately 50 cars. The parking lot is owned by the township, and the township is responsible for cleaning, real estate tax and insurance, snow removal, and related expenses. The remarks indicate the parking lot is available for public use and does not belong to the seller.
For investors and owner-operators, the income profile is supported by an annual gross rental income of $105,240 with annual expenses of $21,000, resulting in net annual rental income of $84,240 as stated in the offering information. Several tenants are described as having been in place for years, and the landlord’s ability to obtain new tenants is referenced where applicable, including for the hair salon on month-to-month terms.
Key Highlights
- Strip center built in 1910 with 5 commercial tenants
- Annual gross rental income of $105,240 with $21,000 in expenses for $84,240 net annual rental income
- Pizza restaurant tenant signed within the last 6 months for a 10‑year term at $2,500/month
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Strip malls
Similar For Sale Nearby
FAQs
What type of property is this?
Strip mall - Well-leased strip center opportunity with several long-term tenants and a dedicated on-site municipal parking lot.
Where is this strip mall located?
The property is located at 22 Lewis Street Unit 5 Eatontown, NJ.
What is the asking price?
The asking price for this property is $1,190,000.
What are key features of this property?
This property features: Strip center built in 1910 with 5 commercial tenants; Annual gross rental income of $105,240 with $21,000 in expenses for $84,240 net annual rental income; Pizza restaurant tenant signed within the last 6 months for a 10‑year term at $2,500/month
