425 Liberty St Long Branch, NJ 07740
- Commercial real estate
- 14,400 SF
- 2.60 lot acres
Current Use by Public Records
- Commercial real estate
Property Details for 425 Liberty St
- Year built
- 1973
- Lot size
- 2.60 lot acres
- Property size
- 14,400 SF
- Zone code
- RC-2
- Property type
- Commercial real estate
- APN
- 27 00379-0000-00001- 03
- APU
- 270037900000000103
Description
Exceptional 2.6-acre riverfront property in Long Branch, NJ, is available for $17,999,999. This 113,234 square foot lot boasts RC-2 Riverfront Residential Commercial zoning (345.29), offering diverse development potential. Permitted uses include townhouses (345.53), neighborhood commercial (345.32), and waterfront mixed residential, allowing up to 30 units per acre (345-55). The property currently houses a strip mall, but its true value lies in its redevelopment potential. A riparian grant is included, and preliminary assessments suggest the possibility of constructing up to 85 boat slips for 25-foot boats. The seller is offering a $1,200,000 credit towards the construction of a 3-bedroom townhouse of their choosing, with potential for up to 5 units. Note that all necessary approvals must be obtained by the buyer. An adjacent property at 401 Liberty St is also available for purchase at $949,000. Direct communication with current business owners or the property owner is prohibited. This is a unique opportunity for developers seeking a high-value riverfront project in a desirable New Jersey location. The property is located at 425 Liberty St, Long Branch, NJ 07740.
Value Estimations
-
CAP approach
- CAP Return
- Estimation
- 6%
- $3,240,000
- 6.5%
- $2,990,000
- 7%
- $2,775,000
-
Comparable approach
- Method
- Estimation
- AI Estimate
- $1,733,000
Market price range: $775k - $2.43M -
Alternative Use
- Use
- Estimation
- COMMERCIAL (GENERAL)
- $3,445,000 Current use
- APARTMENT HOUSE (5+ UNITS)
- $3,805,000 Change: +10% Conversion: Moderate
- OFFICE BUILDING
- $3,550,000 Change: +3% Conversion: Easy
- INDUSTRIAL (GENERAL)
- $2,970,000 Change: -14% Conversion: Moderate
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Location Insight
- Map
- Local Demand
- City
- Long Branch
- County
- Monmouth
- State
- New Jersey
- Longitude
- -73.9948
- Latitude
- 40.3164
- CBSA code
- 35620
- CBSA name
- NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA