162 Highway 35Eatontown, NJ 07724

Property Details for 162 Highway 35

Year built

2011

Lot size

0.69 AC

Property size (Sq ft)

5,460 SF

Property type

Other commercial real estate

Description

This exceptional 5,460 square foot commercial property, located at 162 Highway 35 Unit 162, Eatontown, NJ, presents a lucrative investment opportunity. Situated on a 0.69-acre lot, the property boasts a stable, long-term tenant with a proven track record, having occupied the space for over five years. A new lease agreement, offering a net rent of $22 per square foot with a 3% annual increase, will be in place for the new owner, ensuring a consistent income stream for a period of 3 to 7 years, with options to renew. The tenant's commitment to the property is further solidified by their willingness to negotiate renewal options, contingent upon the sale price. This negotiation will occur before finalizing the Purchase and Sale Agreement. The property's strong tenant occupancy history and favorable lease terms make it an attractive investment prospect with significant potential for long-term returns. The seller also owns the Seacrest Recover Center, adding another layer of potential value or synergy. This is a turnkey investment ready for immediate income generation. The asking price for this exceptional commercial property is $1,750,000.

Location Insight

City

Eatontown

County

Monmouth

State

New Jersey

Latitude

40.3093

Longitude

-74.0645

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