Property Details
Price :
Square Feet :
Cap Rate :
$7,422,000
39,581
7.25%
NOI :
Acres :
$538,126
4.75
Property Type :
Property Status :
Office
Under Agreement
Investment Highlights
- 100% Occupied +/- 39,581 SF Medical/Office Property in Tinton Falls, Monmouth County, New Jersey
- Strong Going-In Yield – 7.25% Cap Rate with $530K+ NOI Provides Immediate, Stable Cash Flow
- Diversified & Stable Tenancy – 22 Tenants Across Medical and Professional Uses with Staggered Lease Expirations Through 2032
- Additional Income & Upside – +/- 12,000 Square Feet of Storage Units on Short-Term Leases Allows for Flexible Repositioning and Rent Increases - Storage Rents Extremely Below Market at $8 Per SF Average
- Well-Maintained Asset – Professionally Managed with Consistent Upkeep, Minimizing Near-Term Capital Requirements
- Excellent Regional Access – Minutes to Route 35 and Garden State Parkway, 1.5 Miles to Downtown Red Bank
- Large Site With Ample Parking – 4.75 Acres – 6.1/1,000 Square Feet Parking Ratio
- Affluent Demographics – Average Household Income Over $165,000 Within 3 Miles of the Subject Property
Street View
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