239 State Route 79 Morganville, NJ 07751
- Commercial real estate
- 2,156 SF
- 1.00 lot acres
Current Use by Public Records
- Commercial real estate
Property Details for 239 State Route 79
- Year built
- 1965
- Construction
- TYPE NOT SPECIFIED
- Lot size
- 1.00 lot acres
- Property size
- 2,156 SF
- Zone code
- C-2
- Property type
- Commercial real estate
- APN
- 30 00168-0000-00010
- APU
- 3000168000000010
Description
This exceptional investment opportunity presents a mixed-use property ideally situated on Route 79 in the Morganville section of Marlboro Township, NJ. The property encompasses two buildings on a one-acre lot, offering a compelling blend of commercial and residential income streams. The main building, a three-story structure, features approximately 1,000 square feet of ground-floor retail space currently leased to long-term tenants under multi-year agreements. Above the retail space, a spacious 1,160-square-foot, two-bedroom apartment occupies the second floor. This apartment boasts an oversized galley kitchen, dining room, living room, laundry facilities, and a private outdoor deck. Additional rooms on the third floor, accessible via a separate entrance, are currently used as storage by the apartment tenant. A second building on the property provides an additional 780 square feet of workshop and retail space, complemented by ample attic storage on the second floor. The entire property benefits from a recently installed, large-capacity, state-of-the-art sewage system, ensuring efficient and reliable operation. The property's location in a C-2 Neighborhood Commercial District and its backing to the Henry Hudson Trail add to its desirability. This income-producing property, with its established tenants and diverse space, represents a strong addition to any investment portfolio. The property is listed at $695,000 and offers significant potential for long-term growth and return.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $310,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $275,000
- 6.5%
- $305,000
- 7%
- $305,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $260,000
- Geo Method
- $260,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $230,000
- Retail
- $275,000
- Mixed-Use
- $225,000
- Hospitality
- $300,000
- Educational
- $265,000
- Residential Income
- $305,000
- Energy
- $305,000
- Income-Based Land
- $290,000
- Food Service
- $270,000
Location Insight
- Map
- Local Demand
- City
- Morganville
- County
- Monmouth
- State
- New Jersey
- Longitude
- -74.2503
- Latitude
- 40.3517
- CBSA code
- 35620
- CBSA name
- NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA
