197 Princeton AveBrick Township, NJ 08724

Property Details for 197 Princeton Ave

Year built

1965

Construction

FRAME

Lot size

9.08 AC

Property size (Sq ft)

1,401 SF

Zone code

R15

Property type

Commercial real estate

APN

07 00871-0000-00008

APU

700871000000008

Description

This exceptional waterfront property, located at 197 Princeton Avenue in Brick Township, NJ (08724), presents a unique investment opportunity. Spanning over 9 acres on the north side of the Metedeconk River, near Barnegat Bay, this established marina boasts over 200 boat slips and 15 jet ski ports. The property includes two travel lifts (40-ton and 15-ton capacity) and extensive yard equipment. Amenities for boat owners include dockside water and electric hookups, a picturesque treed and grassed picnic area perfect for barbecues, and ample land for winter dry storage. Further enhancing the property's appeal is a private swimming pool with surrounding lounge areas. The main office building features adjoining living quarters and a large deck offering stunning panoramic views of the marina. Eleven buildings are currently on-site, and approved plans exist for a 2.5-story waterfront restaurant and seven additional new or renovated buildings, presenting significant expansion potential. This family-owned business, operating successfully for 48 years, offers a proven track record. Detailed financial information is available upon request to qualified buyers. The property is zoned R-15 and has an APN of 07-00871-0000-00008. The asking price is $7,100,000. This is a corporate-owned property.

• CAP approach

  CAP return

  Valuation

  6%

  $348,540

  6.5%

  $321,730

  7%

  $298,749

• Comparable approach

  Method

  Valuation

  Relative Method

  $183,055

  Geo Method

  $183,055

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $609,370

  Retail / Commercial

  $317,188

  Mixed-Use / Specialty

  $319,766

  Hospitality / Lodging

  $239,431

  Office

  $321,730

  Institutional / Educational

  $333,754

  Residential Income

  $390,492

  Multifamily

  $447,774

  Automotive / Energy

  $286,075

  Parking / Income-Based Land

  $95,056.60

  Restaurant / Food Service

  $174,228

  Healthcare / Senior Housing

  $324,111

Location Insight

City

Brick

County

Ocean

State

New Jersey

Latitude

40.0598

Longitude

-74.1158

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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