Current Use by Public Records
- Isalis / (Bike/Boat/Book/etc) Store
- Party City / Party Supply Store / (Bike/Boat/Book/etc) Store
- Skunk Funk / Big Box & Wholesale Store
- Carl's Trading Co / Hat Shop
- Bushka's Kitchen LLC / (Bike/Boat/Book/etc) Store
Property Details for 984 Us-9
- Year built
- 1950
- Lot size
- 0.68 lot acres
- Property type
- Office Spaces
Description
This two-story, 10,000 square foot office building in Sayreville, NJ, presents a compelling value-add investment opportunity. Situated on a 0.68-acre lot on prominent Route 9, the property boasts 26 tenants, providing diversified income streams. The building, constructed in 1950, features ample parking (43 spaces) and is zoned B3, allowing for potential redevelopment. Currently generating a NOI of $103,000 (5.72% cap rate), a pro-forma NOI of $115,000 (6.38% cap rate) is projected. The asking price is $1,800,000. All leases are short-term, offering immediate upside potential through rent increases or redevelopment. The property's location and zoning offer flexibility for various development scenarios, including constructing a new commercial structure or leasing land to a fast-food restaurant. This multi-tenant building minimizes risk and offers significant potential for increased profitability. The fee-simple ownership provides complete control and long-term growth opportunities.
Value Estimations
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Sayreville
- County
- Middlesex
- State
- New Jersey
- Longitude
- -74.2958
- Latitude
- 40.4583
