Building Details

Building Size 2,637 SF

Listing Agency: Sitar Realty Company - Corporate

Listed By: Ronald Schrader Jr. Show Phone

Source: Sitarcompany

Added: Jan 27 Changed: Oct 1 Last Checked: Oct 14 at 9:18PM

Report an Issue

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 Sitar Realty Company - Corporate

Ask AI about this property

Review the available facts, identify missing information and prepare questions for the agent.

What should I ask the agent before proceeding? What information is missing from this listing?

Investment Insights

Based on property information with market context.

This mixed-use building is available for sale or lease. It is located on a corner property in a prime retail corridor with high traffic on Highway 35, offering excellent visibility. The property provides easy access to Routes 138/195, 34, 18, 71, and the Garden State Parkway. The property is undergoing subdivision, with an estimated completion date in 2026.

The property at 1900 Route 35, Wall Township, features approximately 2,637 square feet of retail space along with a one-bedroom apartment that generates $1,200 per month in rental income. The zoning is HB 80. The annual taxes are $6,079, and there are 4 to 5 parking spaces available.

Additionally, the property includes 2409 Old Mill Road, Spring Lake Heights, which consists of a 50' x 150' lot with an approximately 1,126 square foot building. The zoning is R-3, and the annual taxes are $5,733.

Key Highlights

• Prime retail corridor location on heavily traveled Highway 35 with excellent visibility.
• Mixed‑use building featuring ±2,637 SF retail space plus a 1‑bedroom apartment generating $1,200/month income.
• Easy access to multiple major routes: 138/195, 34, 18, 71, and the Garden State Parkway.

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$40,552

Cap Rate

3.12%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$811,040 $811.0K

Cap Rate 7%

$579,314 $579.3K

Cap Rate 9%

$450,578 $450.6K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,637 SF

Gross rent

$79.1K $30.00/SF

− Vacancy

−$5.4K −$2.04/SF

EGI

$73.7K $27.96/SF

− OpEx

−$33.2K −$12.58/SF

NOI

$40.6K $15.38/SF

Area

Monmouth County, NJ

Vacancy

6.80%

Lease Rate

$30.00 /SF/Yr

Expense Ratio

45.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$811,040

Cap Rate 7%

$579,314

Cap Rate 9%

$450,578

Alternative Uses

Best Use

Apartment 5plus

$579.3K

$506.9K – $675.9K (±1% cap)

NOI $40,552 @ 7.0% cap · market cap 3.12%

Second Best

Retail

$537.7K

$470.5K – $627.3K (±1% cap)

NOI $37,639 @ 7.0% cap · market cap 2.90%

Theoretical Best

Office A

$688.6K

$602.5K – $803.3K (±1% cap)

NOI $48,200 @ 7.0% cap · market cap 3.71%

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

Property Analytics

Unlock full access to Insights Subscribe to Realmo Intelligence

Open Analytics

Current Use

Retail space

Suggested Use

Top Pick Hair Salon Nail Salon Big Box & Wholesale Store Dental Office Auto Parts Store Parking Lot & Garage

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

790

Businesses Nearby

519

Monthly Visits Nearby

Explore this area Business Placement

Foot Traffic Nearby

Shops & Services 100%

Meineke Car Care Center Shops & Services

519 visits/mo 0.4 miles

Demographics for 07762, NJ

8,642

Population

5,109

Households

1.7

Avg Household Size

55

Median Age

64%

College-Educated

96%

High-School Grad

2.8 sq mi

ZIP Area

3,086

Density / Sq Mi

$103,947

Median Household Income

$68,061

Median Earnings

$1,775

Median Rent

$871,400

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

Frequently Asked Questions

What type of property is this?

Mixed-use property - Mixed-use building with retail space and apartment for sale or lease.

Where is this mixed-use property located?

The property is located at 1900 Highway 35 and 2409 Old Mill Road Wall Township and Spring Lake Heights, NJ.

What is the asking price?

The asking price for this property is $1,300,000.

What are key features of this property?

This property features: Prime retail corridor location on heavily traveled Highway 35 with excellent visibility.; Mixed‑use building featuring ±2,637 SF retail space plus a 1‑bedroom apartment generating $1,200/month income.; Easy access to multiple major routes: 138/195, 34, 18, 71, and the Garden State Parkway.