260 Nj-34 Matawan, NJ 07747
- Office Properties & Spaces
- 4,400 SF
- 0.42 lot acres
Current Use by Public Records
- Office Properties & Spaces
Property Details for 260 Nj-34
- Year built
- 1985
- Lot size
- 0.42 lot acres
- Property size
- 4,400 SF
- Property type
- Office Properties & Spaces
- Property subtype
- Medical offices
Description
This fee-simple, multi-tenant office building presents a compelling investment opportunity. Located at 260 NJ-34 in Matawan, New Jersey (Middlesex County, zip code 07747), this property boasts 4,400 square feet of net rentable space across three units within a single, two-story building constructed in 1985 and renovated in 2022. Currently, the building enjoys 75% occupancy, generating a net operating income (NOI) of $40,000, translating to a 5.44% cap rate. The asking price is $735,000, or $245,000 per unit, with a price per square foot of $167.05. The property features ample parking with 16 spaces on a 0.42-acre lot. The building is classified as Class C and operates under a triple-net lease (NNN) agreement. The property is ideal for a 1031 exchange. Currently, one unit is available for lease at $2,100 per month, with existing rental income of $7,100. Each unit includes oversized offices, a large reception area, and three bathrooms. The building benefits from abundant natural light, with windows in every office. The property's location within a large business park offers excellent visibility and accessibility.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Matawan
- County
- Middlesex
- State
- New Jersey
- Longitude
- -74.2794
- Latitude
- 40.425
