3206 Nj-35Hazlet, NJ 07730

Property Details for 3206 Nj-35

Year built

1980

Lot size

0.88 AC

Property size (Sq ft)

3,500 SF

Property type

Office properties

Property subtype

Other retail properties

Description

This exceptional investment opportunity presents a fee-simple ownership of a 3,500 square foot property in Hazlet, New Jersey, currently leased to Aspen Dental under a new 10-year NNN lease expiring June 30, 2034. The property, built in 1980 and renovated in 2024, sits on a 0.88-acre lot at 3206 NJ-35, boasting excellent visibility and access along a major thoroughfare with approximately 45,000 vehicles per day. The lease includes a 10% rent increase every five years, providing a strong hedge against inflation. The property generates a Net Operating Income (NOI) of $221,000, resulting in a 6.15% cap rate. Aspen Dental, a credit-rated tenant with over 1,100 locations nationwide, provides significant financial stability. The property benefits from its location near Hackensack Meridian Health Bayshore Medical Center and within a densely populated, affluent area with high average incomes. An additional revenue stream is generated by an existing Interstate Outdoor Advertising billboard with a lease extending beyond the initial Aspen Dental lease term. This investment offers a compelling combination of strong tenant, long-term lease, and significant upside potential. The asking price is $3,593,500.

Location Insight

City

Hazlet

County

Monmouth

State

New Jersey

Latitude

40.4211

Longitude

-74.1864

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