Property profile

2299 Fries Mill Rd Monroe, NJ 08094

FOR SALE
Commercial real estate
Property ID
US59-1261602
3,109 SF 0.92 ac lot Built 1900
Entity Owned 4-yr Hold ~ Est. High Equity
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2299 Fries Mill Rd, Monroe, NJ 08094 For Sale
Contact for pricing 3,109 SF
2299 Fries Mill Rd, Monroe, NJ 08094
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Property summary

AI-generated overview

This exceptional 23.9-acre parcel presents a unique opportunity for retail development in Monroe, New Jersey. Strategically located on the southwest corner of Route 322 and Fries Mill Road, this property boasts high visibility and accessibility. The site is divisible into lots ranging from one to seven acres, offering flexibility for various retail concepts. Currently vacant, this land is ideal for ground lease or purchase options. New intersection improvements are underway, further enhancing accessibility and visibility. The property's designation as a "Need of Redevelopment" area opens the door to potential tax abatements, making this an even more attractive investment. The site's significant advantage is its proximity to substantial new residential developments, ensuring a strong and growing customer base. With lot sizes ranging from one to seven acres, and a total acreage of approximately 23.9 acres, this property offers a compelling opportunity for developers seeking a prime location in a thriving market. The flexible lot sizes allow for a variety of development scenarios, from single-tenant buildings to multi-tenant shopping centers. The potential for tax abatements further enhances the financial attractiveness of this development opportunity. This is a rare chance to secure a prominent retail location in a rapidly growing area of Gloucester County.

Property profile

Verified
Property type Commercial real estate
Use group COMMERCIAL (GENERAL)
Year built 1900
Construction BRICK
Total area 3,109 SF
Lot 0.92 ac (40,075 SF)
APN 11 15001-0000-00005- 01
UPID US59-1261602

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Advocacy Group
  • Family Recreation Center

Location

2299 Fries Mill Rd Monroe, NJ 08094
Monroe metro Census 501609 PHILADELPHIA-CAMDEN-WILMINGTON, PA-NJ-DE-MD METROPOLITAN STATISTICAL AREA
Google Maps

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$320k
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$320k

Owner & transaction history

since 2022
2 recorded transactions
2022
Price N/A
2018
$240,000

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
More about this property
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