1104 Nj-36, Hazlet, NJ 07730

Property Details for 1104 Nj-36

Year built

1950

Property type

Day care centers

Property subtype

Retail properties & Spaces

Description

This exceptional investment opportunity presents a 5,610-square-foot, two-story commercial building situated on a prominent 37,500-square-foot lot at 1104 State Hwy 36 in Hazlet, New Jersey, zip code 07730. Currently vacant, the property offers a flexible use profile, previously operating as a hospitality establishment. The building boasts excellent highway frontage and high visibility on a major thoroughfare leading to the Jersey Shore, benefiting from significant summer traffic. The property includes ample parking with approximately 38 spaces. The asking price is $1,399,000, representing a price per square foot of $249.38 and a 7.59% cap rate, with a net operating income (NOI) of $106,161. Built in 1950, the structure is in very good condition and is zoned B-H. Its strategic location provides easy access to Routes 35 and 36, as well as the Garden State Parkway. The property's versatility allows for a wide range of potential uses, including but not limited to: automotive dealerships, banks, childcare centers, community centers, family day cares, garden centers, health and fitness clubs, hotels, extended-stay facilities, professional offices, restaurants, fast-food establishments, retail sales spaces, theaters, office buildings, self-storage facilities, medical uses, and assisted living facilities. A liquor license may be available for purchase separately. The property is currently vacant with an occupancy date of May 1, 2024. This presents a unique chance to capitalize on the revitalization efforts in nearby shore towns experiencing significant residential growth.

Location Insight

City

Hazlet

County

Monmouth

State

New Jersey

Longitude

-74.1786

Latitude

40.4345