Current Use by Public Records
- Retirement homes
Property Details for 1 Amberly Dr
- Property type
- Retirement homes
Description
This exceptional investment opportunity presents a 33,743-square-foot clubhouse situated on 9.07 acres in Manalapan Township, NJ. The property, part of a thriving 1,557-unit 55+ condominium community (developed in 1972), offers a substantial net operating income (NOI) of $392,000 annually, yielding a 6.82% cap rate at an asking price of $5,750,000. The clubhouse and land are currently leased to the homeowners' association (HOA) under a long-term lease with 47 years remaining. The HOA is responsible for all maintenance and expenses. This offering includes the clubhouse, land, and the assignment of this lease. The property is well-maintained and presents significant long-term redevelopment potential within a robust and expanding market. Conveniently located in a tranquil suburban setting, it enjoys proximity to the Jersey Shore (15 miles) and Manhattan (45 miles). The property's address is 1 Amberly Dr, Manalapan Township, NJ 07726, within Monmouth County.
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
- Manalapan Township
- County
- Monmouth
- State
- New Jersey
- Longitude
- -74.3164
- Latitude
- 40.3313
