Current Use by Public Records
- Retail properties & Spaces
Property Details for 3206 Nj-35
- Year built
- 1980
- Lot size
- 0.88 lot acres
- Property type
- Retail properties & Spaces
- Property subtype
- Office Spaces
Description
This exceptional investment opportunity presents a fee-simple ownership of a 3,500 square foot property in Hazlet, New Jersey, currently leased to Aspen Dental under a new 10-year NNN lease expiring June 30, 2034. The property, built in 1980 and renovated in 2024, sits on a 0.88-acre lot at 3206 NJ-35, boasting excellent visibility and access along a major thoroughfare with approximately 45,000 vehicles per day. The lease includes a 10% rent increase every five years, providing a strong hedge against inflation. The property generates a Net Operating Income (NOI) of $221,000, resulting in a 6.15% cap rate. Aspen Dental, a credit-rated tenant with over 1,100 locations nationwide, provides significant financial stability. The property benefits from its location near Hackensack Meridian Health Bayshore Medical Center and within a densely populated, affluent area with high average incomes. An additional revenue stream is generated by an existing Interstate Outdoor Advertising billboard with a lease extending beyond the initial Aspen Dental lease term. This investment offers a compelling combination of strong tenant, long-term lease, and significant upside potential. The asking price is $3,593,500.
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
- Hazlet
- County
- Monmouth
- State
- New Jersey
- Longitude
- -74.1864
- Latitude
- 40.4211
