Hwy 35 Eatontown, NJ 07724
Mixed-Use Regional Center (MURC) Zone. [Added 9-14-2016 by Ord. No. 10-2016 ] A. Permitted uses. (1) Retail sales, including, but not limited to, fashion retail, health and fitness facility, furniture stores, and grocery stores. (2) Personal services. (3) Indoor movie theaters. (4) Banks, post office, professional offices, business offices, municipal offices…
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendProperty tax & assessments
Tax year 2023Comparables
6 recent transactions · within 1.5 miComparable in this City
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Property description
Physical attributes from public recordsZoning & alternative use
MURC · Eatontown, NJMixed-Use Regional Center (MURC) Zone. [Added 9-14-2016 by Ord. No. 10-2016 ] A. Permitted uses. (1) Retail sales, including, but not limited to, fashion retail, health and fitness facility, furniture stores, and grocery stores. (2) Personal services. (3) Indoor movie theaters. (4) Banks, post office, professional offices, business offices, municipal offices and public utilities. (5) Mixed-use buildings. (6) Restaurants and taverns; seasonable outdoor seating tied to the restaurant or tavern is a permitted accessory use. (7) Parking lots and structured garages. (8) Regional enclosed planned shopping center. (9) Mixed-use regional centers in accordance with the provisions of this section. (10) Medical office buildings with same-day surgical facilities and professional office space; health-care testing facilities; physical rehabilitation facilities. (11) Ambulatory health-care facilities, excluding chemical dependency rehabilitation centers. (12) Preschool/day-care centers. (13) Recreational/amusement/entertainment uses, including, but not limited to, the following: (a) Aquarium; (b) Children's museum; (c) Children's recreational and instructional (dance, martial arts, etc.) facilities; (d) Bumper cars, arcades and other similar amusement rides and activities; (e) Indoor/outdoor miniature golf; (f) Climbing facilities; (g) Indoor sports facilities such as paintball; (h) Children's activities centers; (i) Aviary; (j) Flower museum; (k) Indoor/outdoor water park; (l) Indoor golf training center with various amenities, including food and beverage service; (m) Bowling alleys. (14) Residential development in mixed-use buildings, provided that the maximum number of market rate units permitted in the MURC Zone, as a whole, shall be 700 units. All market rate residential development within a mixed-use regional center shall be restricted to one or two bedrooms; provided, however, the one and two bedroom units may be permitted to have a single den without windows or closets. All residential development in the mixed-use regional center shall generate an affordable housing obligation more fully set forth in Subsection C , below. (15) Food trucks within predesignated areas. (16) Pop-up shops within predesignated areas consisting of retail and/or food shops that are transient, temporary, rotating and/or seasonal operations in nature, and which may be either indoor or outdoor. (17) Food hall, consisting of multiple food vendors with a mix of indoor/outdoor seating and tables in an integrated predesignated area.
Costs & Benchmarks
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Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.