1701 Vly Rd Ocean, NJ 07712-3946
- Commercial real estate
- 20,801 SF
- 2.03 lot acres
Current Use by Public Records
- Commercial real estate
Property Details for 1701 Vly Rd
- Year built
- 1958
- Construction
- CONCRETE BLOCKS
- Lot size
- 2.03 lot acres
- Property size
- 20,801 SF
- Property type
- Commercial real estate
- APN
- 37 00189-0000-00004
- APU
- 3700189000000004
Description
Exceptional investment opportunity: a 20,800 square foot multi-tenant industrial park in Ocean Township, New Jersey. This Class B property, built in 1960 and renovated in 1987, sits on a 1.6-acre lot and features 21 units, including 10 warehouse units and 11 storage units (200 sq ft each). Currently boasting 100% occupancy with 17 tenants, the property generates over $20,000 per month in rental income. The modified lease structure, averaging one-year terms, allows for quick value-add potential, as current rents are 30% below market value. Tenants are responsible for their own utilities (gas and electric), snow removal, and waste disposal, minimizing owner expenses. The property benefits from a prime location off Highway 35, near major retailers like Wegmans and Costco, ensuring high visibility and consistent demand. The permitted zoning is Light Industrial, and the property includes separately metered units with overhead bay doors. This is a low-maintenance property with a history of high occupancy and minimal vacancy periods, making it an attractive investment for those seeking a stable, high-yield asset in a rapidly developing area. The net rentable area is 20,300 square feet, with an asking price of $4,160,000 ($200 per square foot).
Value Estimations
-
AI approach
- Method
- Estimation
- ML approach
- $535,000
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Location Insight
- Map
- Local Demand
- City
- Ocean
- County
- Monmouth
- State
- New Jersey
- Longitude
- -74.04
- Latitude
- 40.2409
- CBSA code
- 35620
- CBSA name
- NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA
