Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    1200 Nj-35 Middletown Township, NJ 07748
    Back to Search
    Property profile & analytics

    1200 Nj-35 Middletown Township, NJ 07748

    View on Map
    • Retail properties & Spaces
    • 13,567 SF
    • 1.91 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail properties & Spaces

    Property Details for 1200 Nj-35

    Lot size
    1.91 lot acres
    Property size
    13,567 SF
    Property type
    Retail properties & Spaces
    Property subtype
    Drug stores

    Description

    This exceptional investment opportunity presents a net-leased CVS Pharmacy located at 1200 NJ-35, Middletown Township, NJ 07748. The property boasts a 13,567 square foot building situated on a 1.91-acre lot at a highly visible corner intersection of Route 35 and New Monmouth Road, benefiting from significant daily traffic counts exceeding 30,000 and 11,000 vehicles respectively. The 2019-constructed building is 100% occupied under a 25.7-year lease with CVS Pharmacy, a tenant with an investment-grade credit rating (BBB+ S&P, Baal Moody's). The current lease, commencing June 3, 2019, and expiring January 31, 2045, has a remaining term of approximately 20.2 years. Eight five-year renewal options are included, each with a 10% rent increase. The asking price is $10,900,000, representing a price per square foot of $803.42 and a 5.40% cap rate based on a net operating income (NOI) of $588,825. The property's location within a thriving retail area, coupled with strong demographics (over 50,000 residents within a 3-mile radius, average household income exceeding $130,000), makes this a compelling investment prospect. This is a single-tenant, net lease investment with a strong, creditworthy tenant and significant remaining lease term.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Middletown Township
    County
    Monmouth
    State
    New Jersey
    Longitude
    -74.1136
    Latitude
    40.3979

    Comparable in this City

    • Value Estimation by Request
      1,750 SF

      1580 Nj-35

      Restaurants • 1,750 SF
      1580 Nj-35, Middletown Township, NJ 07748
      View Details
    • Value Estimation by Request
      8,700 SF

      1281 Nj-35

      Restaurants • 8,700 SF
      1281 Nj-35, Middletown Township, NJ 07748
      View Details
    • Value Estimation by Request
      136,023 SF

      1157 Rte

      Neighborhood centers • 136,023 SF
      1157 Rte, Middletown Township, NJ 07748
      View Details
    • Value Estimation by Request
      231,375 SF

      754 Rte

      Lifestyle centers • 231,375 SF
      754 Rte, Middletown Township, NJ 07748
      View Details
    • Value Estimation by Request
      22,713 SF

      1835 Rte

      Neighborhood centers • 22,713 SF
      1835 Rte, Middletown Township, NJ 07748
      View Details
    • Value Estimation by Request
      146,001 SF

      1500 Rte

      Lifestyle centers • 146,001 SF
      1500 Rte, Middletown Township, NJ 07748
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      13,567 SF

      Net-Leased CVS Property For Sale

      Net-leased CVS in Middletown, NJ with 19 years remaining.
      1200 Nj-35, Middletown, NJ 07748
      View Details
    • New
      $599,000
      Pending

      Middletown Commercial Property on Kings Highway

      Commercial property in the heart of Middletown's Village section.
      6 Kings Hwy, Middletown, NJ 07748
      View Details
    • New
      $650,000
      Pending

      Multi-Family Property with Commercial Potential

      Versatile property with rental income and commercial reactivation possibilities.
      289 Port Monmouth Rd, North Middletown, NJ 07748
      View Details
    • $299,999

      Prime Commercial Land Opportunity

      Commercial land with high visibility and frontage on Route 36.
      33 State Route 36, Middletown, NJ 07748
      View Details
    • $349,000
      3,400 SF

      Profitable Italian Restaurant Business Opportunity

      Turnkey Italian restaurant business for sale, seats 85.
      26 State Route 36, North Middletown, NJ 07748
      View Details
    • $299,999
      0.34 Acres

      Prime Commercial Land Opportunity

      Commercial land with high visibility and frontage on Route 36.
      33 State Route 36, Middletown, NJ 07748
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      1,750 SF

      Middletown Retail Space For Lease

      Retail space available for lease in Middletown, New Jersey.
      1580 State Route 35, Middletown, NJ 07748
      View Details
    • Contact for pricing
      28,045 SF

      Retail Space in Middletown, NJ

      Retail space available in busy Middletown shopping center.
      754-848 State Route 35, Middletown, NJ 07748
      View Details
    • Contact for pricing
      975 SF

      Retail Space in High-Traffic Center

      Retail space available in a highly visible, busy shopping center.
      1365-1455 State Route 35, Middletown, NJ 07748
      View Details
    • Contact for pricing
      2,500 SF

      Retail, F&B, Medical Space

      Accessible location suitable for retail, food and beverage, medical.
      1830 State Route 35, Middletown, NJ 07748
      View Details
    • $3,300 /Mo
      1,400 SF

      Middletown Retail Space For Rent

      Prime retail space available in high-traffic Middletown strip center.
      1300 Rte 35 S, Middletown, NJ 07748
      View Details
    • Contact for pricing

      Retail Restaurant Space For Lease

      Retail or restaurant space available in North Middletown, New Jersey.
      307 Port Monmouth Rd, North Middletown, NJ 07748
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1200 Nj-35
    Middletown Township, NJ 07748
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    1200 Nj-35, Middletown Township, NJ, 07748
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!