For Sale
$4,160,000

1701 Vly RdOcean Township, NJ 07712

High-Demand Flex Space, 100% Occupied

Overview

Added:
Dec 11, 2024
Days on market:
115
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).

Highlights

  • $4,160,000 asking price for a 20,800 square foot multi-tenant industrial property in Ocean Township, NJ.
  • 100% occupancy with 17 tenants in a 21-unit complex.
  • Property features 10 warehouse units and 11 storage units (200 sq ft each).
  • Located at 1701 Valley Rd, Ocean Township, NJ 07712, near major highways and retail centers.
  • Built in 1960, renovated in 1987, with a 1.6-acre lot and Light Industrial zoning.
  • Current rents are below market, offering significant value-add potential.

Property Details for 1701 Vly Rd

Property type
Warehouses, Office properties
Square Feet
20,800 SF
Class
B
Year Built/Renovated
1960/1987
Buildings
1
Lot Size (sq. ft)
69,696 SF
Units
21

Location Insight

City
Ocean Township
County
Monmouth
State
New Jersey
Latitude
40.240809511317
Longitude
-74.040135991197
1701 Vly Rd, Ocean Township, New Jersey

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1701 Vly Rd
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