73 Partridge Rd Matawan, NJ 07747
- Commercial real estate
- 5,017 SF
- 1.14 lot acres
Current Use by Public Records
- Commercial real estate
Property Details for 73 Partridge Rd
- Year built
- 1945
- Lot size
- 1.14 lot acres
- Property size
- 5,017 SF
- Property type
- Commercial real estate
Description
This exceptional investment opportunity presents a fully leased, 5,017 square foot multi-unit commercial building situated on a 1.14-acre lot in Matawan, NJ. Currently boasting a 6.8% cap rate, this property offers significant potential for increased rental income due to below-market rents. The building comprises ten units, a mix of one- and two-bedroom apartments, all featuring full kitchens. Recent updates within the past 10 years ensure the property is well-maintained and attractive to tenants. The property benefits from a private driveway and ample natural landscaping, a feature highly valued by the current stable tenant base. All tenants are consistently punctual with rent payments and do not receive rental assistance, minimizing risk and maximizing return. The R-40 zoning is grandfathered, providing additional security and flexibility for future development. This is a rare opportunity to acquire a high-performing, cash-flowing asset in a desirable location. The property is priced at $1,999,000. Showings are strictly by appointment only.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Matawan
- County
- Middlesex
- State
- New Jersey
- Longitude
- -74.27887
- Latitude
- 40.41173
