162 Highway 35 Eatontown, NJ 07724
- Commercial real estate
- 5,460 SF
- 0.69 lot acres
Current Use by Public Records
- Commercial real estate
Property Details for 162 Highway 35
- Year built
- 2011
- Lot size
- 0.69 lot acres
- Property size
- 5,460 SF
- Property type
- Commercial real estate
Description
This exceptional 5,460 square foot commercial property, located at 162 Highway 35 Unit 162, Eatontown, NJ, presents a lucrative investment opportunity. Situated on a 0.69-acre lot, the property boasts a stable, long-term tenant with a proven track record, having occupied the space for over five years. A new lease agreement, offering a net rent of $22 per square foot with a 3% annual increase, will be in place for the new owner, ensuring a consistent income stream for a period of 3 to 7 years, with options to renew. The tenant's commitment to the property is further solidified by their willingness to negotiate renewal options, contingent upon the sale price. This negotiation will occur before finalizing the Purchase and Sale Agreement. The property's strong tenant occupancy history and favorable lease terms make it an attractive investment prospect with significant potential for long-term returns. The seller also owns the Seacrest Recover Center, adding another layer of potential value or synergy. This is a turnkey investment ready for immediate income generation. The asking price for this exceptional commercial property is $1,750,000.
Value Estimation
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- Eatontown
- County
- Monmouth
- State
- New Jersey
- Longitude
- -74.0645
- Latitude
- 40.3093
