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    119 Newman Spg Rd Shrewsbury, NJ 07702

    For Sale
    $1,999,000

    Prime Retail Space, High Traffic Area

    Property size:
    6,200 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    369
    This exceptional 6,200 square foot storefront property, located at 119 Newman Springs Rd in Shrewsbury, New Jersey (zip code 07702), presents a lucrative investment opportunity. Situated on a 0.51-acre lot, this single-tenant building is currently occupied by Big Red Property and boasts a prominent location on a major thoroughfare between the Garden State Parkway and Highway 35, ensuring high visibility and substantial foot traffic. The property is zoned B-1 (Business Zone), allowing for a variety of commercial uses. The asking price is $1,999,000, translating to a price per square foot of $322.42. Ample on-site parking is available for customers and employees. The building is a single-story structure, offering convenient access and functionality. This is an ideal opportunity for investors seeking a well-located, established retail property in a thriving New Jersey market. The property's strategic location and substantial square footage make it an attractive investment with significant potential for future growth and return. This is a rare opportunity to acquire a high-performing retail space in a prime Monmouth County location.

    Property Features for 119 Newman Spg Rd

    General Information

    Property type
    Individual retail properties
    Square Feet
    6,200 SF
    Lot Size
    22,216 SF

    Building Details

    Stories
    1

    HighLights

    • $1,999,000 asking price for this 6,200 square foot retail storefront.
    • Located at 119 Newman Springs Rd, Shrewsbury, NJ 07702.
    • Single‑tenant occupancy with Big Red Property as the current tenant.
    • Situated on a 0.51‑acre lot in a B‑1 Business Zone.
    • Price per square foot is $322.42.
    Property Profile Location Intelligence

    Current Use by Public Records

    Retail space

    Suggested Use

    Restaurant Realty agency Building Supply Law Firm Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Hotel & Motel

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Shrewsbury
    County
    Monmouth
    State
    New Jersey
    Longitude
    -74.0593872
    Latitude
    40.3245731

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    FAQs

    What type of property is this?
    Individual retail property - Prime Retail Space, High Traffic Area
    Where is this individual retail property located?
    The property is located at 119 Newman Spg Rd Shrewsbury, NJ.
    What is the asking price?
    The asking price for this property is $1,999,000.
    What are key features of this property?
    This property features: $1,999,000 asking price for this 6,200 square foot retail storefront.; Located at 119 Newman Springs Rd, Shrewsbury, NJ 07702.; Single-tenant occupancy with Big Red Property as the current tenant.
    Request Owner's contact information
    119 Newman Spg Rd Shrewsbury, NJ 07702
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    Shrewsbury, NJ 07702
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    119 Newman Spg Rd Shrewsbury, NJ 07702
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