Current Use by Public Records
- Retail properties & Spaces
Property Details for 4 Rte
- Year built
- 1960
- Lot size
- 0.85 lot acres
- Property type
- Retail properties & Spaces
- Property subtype
- Drug stores
Description
This exceptional investment opportunity presents a 14,112 square foot retail property located at 4 & 14 Route 36 in Hazlet, New Jersey, Monmouth County, zip code 07730. The property, situated on a 0.85-acre lot (Block 149 Lot 1), boasts a prime location at a hard corner intersection on Route 36, experiencing over 29,000 vehicles daily. Currently 100% occupied by a CVS Pharmacy (leased until August 2037, S&P BBB+) and a Best Buy Liquors (leased until December 31, 2024), this property generates a strong net operating income (NOI) of $274,953. Built in 1960 and renovated in 1985, the property includes 45 parking spaces (a 3.30/1,000 parking ratio). The convenient location offers easy access to the Jersey Shore and the Garden State Parkway, catering to a substantial market with an average household income exceeding $113,000 within a 3-mile radius. Further upside potential exists with approximately 4,500 square feet of vacant second-floor space, ideal for professional office use. Rent bumps are included in the lease agreements. This property represents a compelling investment opportunity in a high-demand retail corridor.
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
- -74.1492
- Latitude
- 40.4383
