Multi-Tenant Retail
34 Leonardville Road Middletown, NJ 07748
34 Leonardville Road, Middletown, NJ, 07748
Contact for pricing
For Sale
Contact for pricing
Well-maintained 1980-built plaza with a 4,669-sf retail building and seven tenants, fully leased.
Property Size4,780 SF
Lot Size0.88 Acres
Price / SF$329.50
Days on Market71
Property Features for 34 Leonardville Road
General Information
- Standard status
- Active
- Size
- 4,780 SF
- Lot size
- 0.88 Acres
- Property subtype
- Retail
Building Details
- Year Built
- 1956
Listing agency
Horvath & Tremblay
(201) 215-1801
Listed by
Zach Noble · License #MA 9578180
Source
Crexi
Added: May 12 Updated: Jul 20 at 5:04PM Checked: Jul 21 at 4:23AM
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 Horvath & Tremblay
Investment Insights
Based on property information with market context.
Horvath & Tremblay is pleased to offer an exclusive purchase opportunity for a multi-tenant retail center in Middletown Township, New Jersey. The well-maintained plaza was constructed in 1980 and is improved by a 4,669-square-foot retail building situated on 0.88 acres across two parcels. The property is 100% leased to seven tenants.
The retail center is positioned along Leonardville Road with frontage and visibility just moments from the commercial node at the intersection with Main Street. It sits between NJ Route 35 and NJ Route 36, supporting convenient access within an established trade area. The surrounding area includes densely populated residential neighborhoods and nearby schools, and the remarks also cite a mix of national retailers and restaurants contributing to steady traffic.
The site is described as offering strong regional connectivity through NJ Route 35, NJ Route 36, the Garden State Parkway, Middletown Train Station, and the Seastreak Ferry Terminal, providing access throughout the region and to New York City, approximately 25 miles to the north.
The retail center is positioned along Leonardville Road with frontage and visibility just moments from the commercial node at the intersection with Main Street. It sits between NJ Route 35 and NJ Route 36, supporting convenient access within an established trade area. The surrounding area includes densely populated residential neighborhoods and nearby schools, and the remarks also cite a mix of national retailers and restaurants contributing to steady traffic.
The site is described as offering strong regional connectivity through NJ Route 35, NJ Route 36, the Garden State Parkway, Middletown Train Station, and the Seastreak Ferry Terminal, providing access throughout the region and to New York City, approximately 25 miles to the north.
Key Highlights
- Multi‑tenant retail center at 34 Leonardville Road, Middletown Township, NJ
- Well‑maintained plaza constructed in 1980 with 4,669 SF retail building on 0.88 acres across two parcels
- 100% leased to seven (7) tenants
Local Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $103.2k | $21.60 |
| − Vacancy | −$5.8k | −$1.21 |
| EGI | $97.5k | $20.39 |
| − OpEx | −$29.2k | −$6.12 |
| NOI | $68.2k | $14.27 |
4,780 SF · lease $21.60/SF/yr · vacancy 5.60% · expense 30.00%
Alternative Uses
Best Use
Retail
$974.7K
$852.8K – $1.14M
NOI $68,226 @ 7.0% cap · market cap 4.33%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.25M
$1.09M – $1.46M
NOI $87,371 @ 7.0% cap · market cap 5.55%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Good Shepherd Book ...
(Bike/Boat/Book/etc) Store
Similar For Sale Nearby
FAQs
What type of property is this?
Shopping center - Well-maintained 1980-built plaza with a 4,669-sf retail building and seven tenants, fully leased.
Where is this shopping center located?
The property is located at 34 Leonardville Road Middletown, NJ.
What is the asking price?
The asking price for this property is $1,575,000.
What are key features of this property?
This property features: Multi‑tenant retail center at 34 Leonardville Road, Middletown Township, NJ; Well‑maintained plaza constructed in 1980 with 4,669 SF retail building on 0.88 acres across two parcels; 100% leased to seven (7) tenants
