Building Details

Year Built 1957

Listing Agency: RE/MAX 1st. Advantage

Listed By: Robert Dekanski · License #232901 Show Phone

Source: Actionplusrealty

Added: Apr 21 Changed: Oct 11 Last Checked: Oct 12 at 8:02PM

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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 RE/MAX 1st. Advantage

Investment Insights

Based on property information with market context.

This freestanding 3,358 sq ft auto repair service is situated on a 2,405 sq ft corner lot. The property features a well-established body shop with a history of service. An additional garage provides extra service space, allowing for increased capacity and new revenue streams. The interior includes a front reception area, ample on-site storage, and a private 1/2 bath. On-site parking is available for 15+ vehicles. The property is located in a high-traffic area with easy access to major roads and proximity to Asbury Park. The property is intended for use as an auto repair shop and offers potential for business growth with a loyal customer base.

Key Highlights

• Established 5‑star auto repair business with a 40‑year track record.
• Prime corner lot location in a high‑traffic area of Neptune, with easy access to major roads and Asbury Park.
• Turn‑key opportunity with a loyal customer base and included phone numbers.

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$47,930

Cap Rate

5.33%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$958,600 $958.6K

Cap Rate 7%

$684,714 $684.7K

Cap Rate 9%

$532,556 $532.6K

Market Conditions

NOI Build-Up for 3,358 SF

Gross rent

$72.5K $21.60/SF

− Vacancy

−$4.1K −$1.21/SF

EGI

$68.5K $20.39/SF

− OpEx

−$20.5K −$6.12/SF

NOI

$47.9K $14.27/SF

Area

Monmouth County, NJ

Vacancy

5.60%

Lease Rate

$21.60 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$958,600

Cap Rate 7%

$684,714

Cap Rate 9%

$532,556

Alternative Uses

Best Use

Retail

$684.7K

$599.1K – $798.8K (±1% cap)

NOI $47,930 @ 7.0% cap · market cap 5.33%

Second Best

Industrial

$459.9K

$402.4K – $536.5K (±1% cap)

NOI $32,190 @ 7.0% cap · market cap 3.58%

Theoretical Best

Office A

$876.8K

$767.2K – $1.02M (±1% cap)

NOI $61,379 @ 7.0% cap · market cap 6.82%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Auto shops

Suggested Use

Top Pick Real Estate Agency Building Supply Big Box & Wholesale Store Auto Parts Store Auto Repair Shop Restaurant

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

420

Businesses Nearby

154k

Monthly Visits Nearby

Balanced

Demand for This Use

Explore this area Business Placement

Foot Traffic Nearby

Superstores 80% Shops & Services 18% Hotels & Casinos 1%

Walmart Superstores

124,018 visits/mo 0.4 miles

Wawa Shops & Services

28,386 visits/mo 0.4 miles

Holiday Inn Express Neptune Hotels & Casinos

1,877 visits/mo 0.5 miles

Demographics for 07753, NJ

37,397

Population

16,701

Households

2.2

Avg Household Size

45

Median Age

37%

College-Educated

93%

High-School Grad

16.0 sq mi

ZIP Area

2,337

Density / Sq Mi

$92,824

Median Household Income

$49,953

Median Earnings

$1,740

Median Rent

$390,900

Median Home Value

Market

Vacancy Rate% for Retail in Northeast region

6% 2019

7.1% 2020

6.5% 2021

6% 2022

5.7% 2023

5.6% 2024

6% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this auto shops located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Auto shop - Turn-key auto repair shop with loyal customer base.

Where is this auto shop located?

The property is located at 1423 Corlies Avenue Neptune, NJ.

What is the asking price?

The asking price for this property is $899,999.

What are key features of this property?

This property features: Established 5‑star auto repair business with a 40‑year track record.; Prime corner lot location in a high‑traffic area of Neptune, with easy access to major roads and Asbury Park.; Turn‑key opportunity with a loyal customer base and included phone numbers.