For Sale
$2,100,000

60 Carr Ave Keansburg, NJ 07734

Oceanfront Restaurant & Apartments

Overview

Added:
Dec 11, 2024
Days on market:
138
This exceptional Keansburg, NJ investment opportunity presents a 5,906 sq ft, two-story building on a 9,200 sq ft lot, currently housing four one-bedroom apartments and a thriving restaurant/bar. Boasting 100% occupancy and a strong NOI of $126,637, this property offers a 6.03% cap rate at an asking price of $2,100,000 ($355.57/sq ft). Located just one block from the ocean and the Keansburg pier, the property benefits from its prime location within a rapidly developing area. The adjacent lot serves as an outdoor patio and tiki bar, adding to the property's appeal. The ongoing Carr Avenue development, slated for completion in 2024, will bring over 700 new apartments, 45,000 sq ft of retail and entertainment space, and 1,000 parking spaces to the immediate vicinity, promising significant future appreciation. Current rents are below market, presenting an opportunity for increased revenue. The property is zoned C-0, allowing for potential expansion of the bar, addition of more apartments, or continued operation as is. This is a rare chance to capitalize on the revitalization of Keansburg and secure a strong cash-flowing asset in a high-growth area.

Highlights

  • $2,100,000 asking price for this mixed-use property.
  • 5,906 square feet building on a 9,200 square foot lot in Keansburg, NJ.
  • 6.03% cap rate with a $126,637 NOI and 100% occupancy.
  • Features four one-bedroom apartments and a restaurant/bar, located one block from the ocean and Keansburg Pier.
  • Situated in a redevelopment zone with significant future development potential.

Property Details for 60 Carr Ave

Property type
Mixed-use properties, Hospitality properties
Square Feet
5,906 SF
Buildings
1
Stories
2

Location Insight

City
Keansburg
County
Monmouth
State
New Jersey
Latitude
40.4532314
Longitude
-74.1348426

FAQs

What type of property is this?
Mixed-use property - Oceanfront Restaurant & Apartments
Where is the mixed-use property located?
The property is located at 60 Carr Ave Keansburg, NJ.
What is the asking price?
The asking price for this property is $2,100,000.
What are key features of this property?
This property features: $2,100,000 asking price for this mixed-use property.; 5,906 square feet building on a 9,200 square foot lot in Keansburg, NJ.; 6.03% cap rate with a $126,637 NOI and 100% occupancy.
How can I contact the broker?
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60 Carr Ave
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