1113 Nj-35 Ocean Township, NJ 07712
- Land
- 4.00 lot acres
Current Use by Public Records
- Land
Property Details for 1113 Nj-35
- Lot size
- 4.00 lot acres
- Property type
- Land
- Property subtype
- Industrial properties
Description
This exceptional 4-acre commercial, industrial, and residential development site is strategically located on Highway 35 in Ocean Township, New Jersey, zip code 07712. The property, encompassing two parcels at 1113 and 1119 NJ-35, is situated behind established businesses including Green's Natural Foods and Two Men and a Truck, both operating under strong, guaranteed leases. Zoned for General Commercial and Office Research, this land offers significant potential for a variety of projects, including senior housing, self-storage facilities, warehouse/flex business parks, retail spaces, medical facilities, or salon suites. A completed wetlands assessment indicates favorable conditions for development, with the possibility of filling isolated wetlands under NJDEP General Permit No. 6. The site's estimated buildable area is approximately 40,000 to 60,000 square feet. Currently, the existing buildings on the land generate over $280,000 annually in base rent from NNN leases, featuring built-in rent increases and long-term lease agreements. Green's Natural Foods operates under a corporate-guaranteed NNN lease extending to 2031, while Two Men and a Truck recently signed a new 5-year NNN lease with two 5-year renewal options. This property presents a unique opportunity for 1031 exchange investors seeking a high-potential development site with existing income streams. The seller owns both properties and is open to selling the land separately or together with the income-producing buildings.
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
- Ocean Township
- County
- Monmouth
- State
- New Jersey
- Longitude
- -74.0368
- Latitude
- 40.2405
