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NJ
Asbury Park
07712
1501 Asbury Ave

Property profile

1501 Asbury Ave Asbury Park, NJ 07712

FOR LEASE

Other commercial real estate

Property ID

US59-2590846

0.1 ac lot Built 1952

Individually Owned 14-yr Hold Absentee Owner Free & Clear

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$10,000/Mo

1501 Asbury Ave, Asbury Park, NJ 07712
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The property consists of three commercial units with on-site parking for approximately 30 vehicles, located along a heavily traveled road. One unit was configured and previously operated as an auto body and repair facility with a valid body shop license and multiple used car licenses, including two vehicle lifts, a paint booth, a frame machine, and assorted tools and equipment. The remaining two units were used for auto-related and dealership support uses: one as an auto repair shop featuring two bays, one lift, and gated parking, and another as a large office space used by a used car dealer. The building and site are arranged to support auto-related businesses.

Property type Other commercial real estate

Use group COMMERCIAL (GENERAL)

Year built 1952

Construction CONCRETE BLOCKS

Lot 0.1 ac (4,426 SF)

Zoning code R1

APN 04 01902-0000-00011

UPID US59-2590846

Implied cap rate, NOI & suggested price

Cap rate vs submarket · NOI estimate · 3 price anchors

1501 Asbury Ave Asbury Park, NJ 07712

Asbury Park metro Census 807100 NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA

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AI Approach AI

$270k

CAP Approach CAP

by Request

Comparable Approach Comparable

by Request

Blend (final) Blend

$270k

since 2012

4 recorded transactions

2014

Price N/A

2012

Price N/A

2006

Price N/A

1969

Price N/A

Zoning description

(R1) - Single Family Residential Zone. [2000 Code § 30-70.3; amended 6-9-2021 by Ord. No. 2021-21 ; 3-27-2024 by Ord. No. 2024-6 ] a. Permitted Principal Uses. 1. Detached single family. 2. Essential municipal services f…

General category RESIDENTIAL

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