275 BroadwayUnion Beach, NJ 07735

Property Details for 275 Broadway

Year built

1991

Construction

FRAME

Lot size

0.76 AC

Property size (Sq ft)

13,320 SF

Zone code

HC

Property type

Car washes

APN

24 00001- 02-00049

APU

24000010200049

Description

This exceptional investment opportunity presents a single-tenant, 12,676 square foot Mavis Discount Tire located at 275 Broadway, Keyport, New Jersey, in Monmouth County (zip code 07735). The property sits on a 0.32-acre lot and is subject to a 20-year absolute triple-net (NNN) lease, commenced June 16, 2021, and expiring June 29, 2041, leaving approximately 16.6 years remaining. The current annual net operating income (NOI) is $123,000, representing a 5.25% capitalization rate based on the asking price of $2,342,857 ($184.83 per square foot). The lease includes attractive rental increases of 1.50% annually, commencing in year seven and continuing through six, five-year renewal options. This is a low-maintenance, passive income investment with minimal landlord responsibilities, offering significant long-term value and strong tenant performance. The property boasts 100% occupancy and a single-story building. This is a prime opportunity for investors seeking a stable, high-yield, net-lease investment in a well-established retail location.

• CAP approach

  CAP return

  Valuation

  6%

  $3,237,225

  6.5%

  $2,988,208

  7%

  $2,774,764

• Comparable approach

  Method

  Valuation

  Relative Method

  $4,385,786

  Geo Method

  $4,385,786

• Alternative Use

  Use

  Valuation

  Residential

  $2,520,665

  Hospitality

  $2,308,916

  Educational

  $1,920,991

  Medical

  $1,987,056

  Retail

  $2,988,208

Location Insight

City

Keyport

County

Monmouth

State

New Jersey

Latitude

40.4279

Longitude

-74.2104

CBSA code

35620

CBSA name

NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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