New Construction Near Renowned Demand Drivers 252 Highway 35 S 4,600 SF Vacant Retail Building Online Auction Sale Eatontown, NJ 07724
INVESTMENT HIGHLIGHTS
- Freestanding retail building boasting 4,600 SF of new construction on a 0.8-acre lot with two points of ingress and egress in Eatontown, New Jersey.
- Blank slate owner/user or value/add investment opportunity within a Central Jersey cannabis retail zone in the flourishing Eastern Monmouth submarket.
- Beneficially situated with highly visible frontage and ample parking along Hwy 35, minutes from highly rated enclosed shopping center Monmouth Mall.
- Desirably surrounded by nationally renowned demand drivers and an affluent community with an ideal annual spending power of about $2.4 billion.
EXECUTIVE SUMMARY
Newly constructed freestanding retail building exceptionally positioned with prominent frontage along Highway 35 in Eatontown, New Jersey. 252 Highway 35 S stands at 4,600 square feet and boasts a shell-condition single-story layout primed for a new owner seeking a blank-slate acquisition. The dynamic asset features an abundance of natural lighting throughout, illuminating its open floor plan. This property is excellently situated over 0.8 acres of commercially zoned land within Central Jersey’s cannabis retail zone, with ample on-site parking accommodating 30 vehicles with two points of ingress and egress.
252 Highway 35 S is favorably located two minutes from the retail corridor’s popular demand driver, Monmouth Mall, an enclosed shopping mall anchored by Macy’s, Boscov’s, and Barnes & Noble. Also surrounding the property within a brief 1-mile radius are nationally-renowned businesses that attract significant demand, including Target, Starbucks, Best Buy, Lidl, Dick’s Sporting Goods, Wendy’s, Chick-fil-A, and many more.
Robust and affluent demographics encompass 252 Highway 35 S as more than 169,000 residents live within a 5-mile radius, bringing home a notable average household income of $121,522. This population has recently grown in the last four years, is joined by a daytime employment of 101,190 employees, and has an enticing spending power of about $2.4 billion annually.
A new owner/user or value/add investor can acquire this property to discover notable upside after building out the interior and thriving Eastern Monmouth retail submarket. This flourishing submarket has experienced shrinking retail rates, currently standing at only 3.3%, and increasing year-over-year rental rates by 2.4% in general retail properties.
Property tours are available by appointment only. Please contact the broker to schedule.
252 Highway 35 S is favorably located two minutes from the retail corridor’s popular demand driver, Monmouth Mall, an enclosed shopping mall anchored by Macy’s, Boscov’s, and Barnes & Noble. Also surrounding the property within a brief 1-mile radius are nationally-renowned businesses that attract significant demand, including Target, Starbucks, Best Buy, Lidl, Dick’s Sporting Goods, Wendy’s, Chick-fil-A, and many more.
Robust and affluent demographics encompass 252 Highway 35 S as more than 169,000 residents live within a 5-mile radius, bringing home a notable average household income of $121,522. This population has recently grown in the last four years, is joined by a daytime employment of 101,190 employees, and has an enticing spending power of about $2.4 billion annually.
A new owner/user or value/add investor can acquire this property to discover notable upside after building out the interior and thriving Eastern Monmouth retail submarket. This flourishing submarket has experienced shrinking retail rates, currently standing at only 3.3%, and increasing year-over-year rental rates by 2.4% in general retail properties.
Property tours are available by appointment only. Please contact the broker to schedule.
DATA ROOM Click Here to Access
- Operating and Financials
- Purchase Agreement
- Third Party Reports
- Survey
- Title and Insurance
MARKET ANALYTICS Click Here to Access
$99,999
Asset Value
$99,999
12 Month Sales Volume
12 Month Sales Volume
Total
Lowest
Highest
Transactions
999
-
-
Sales Volume
$99,999
$99,999
$99,999
Properties Sold
999
-
-
Transacted SF
999
999
999
Average SF
999
999
999
9.9%
Market Cap Rate
9.9%
Market Sale Price/SF Change (YOY)
12 Month Sales Price
Average
Lowest
Highest
Market
Cap Rate
9.9%
9.9%
9.9%
9.9%
Sale Price/SF
$99,999
$99,999
$99,999
$99,999
Sale Price
$99,999
$99,999
-
-
Sale vs Asking Price
-9.9%
-9.9%
-9.9%
-
% Leased at Sale
9.9%
9.9%
9.9%
-
Market Sale Price per SF
New York - NY USA
Market Cap Rate
New York - NY USA
Market Sale Price per SF by Star Rating
1 - 2 Star
3 Star
4 - 5 Star
Market Cap Rate by Star Rating
1 - 2 Star
3 Star
4 - 5 Star
Market Sale Price per SF Distribution
Market Cap Rate Distribution
PROPERTY FACTS
Sale Type
Investment
Sale Condition
Auction Sale
Type of Ownership
Fee Simple
Property Type
Retail
Property Subtype
Storefront
Building Size
4,600 SF
Year Built
2023
Percent Leased
Vacant
Building Height
1 Story
Building FAR
0.13
Lot Size
0.80 AC
Parking
30 Spaces (6.52 Spaces per 1,000 SF Leased)
ABOUT EASTERN MONMOUTH
Eastern Monmouth County abuts the Atlantic Ocean and stretches west to the communities of Holmdel and Matawan. Retailers here serve some of the wealthiest and most highly educated towns in New Jersey. The Garden State Parkway bisects the area, allowing easy transit to locations closer to New York and along the Jersey coast. The area is also served by nine stops on the North Jersey Coast Line of the New Jersey Transit system. This line runs as far south as Bay Head and connects to Newark’s and Manhattan’s Penn Stations to the north.
Some of the largest retailers in the area include Boscov’s, Wegmans Food Market, Hobby Lobby, and The Home Depot. Strong consumer demand has led to steady construction activity in this part of Monmouth County, and this trend continues.
Investors are drawn to Eastern Monmouth’s solid retail fundamentals, with consistently high sales volume. The average price per square foot has held steady in the past five years, though is around a 50% increase from 10 years ago.
DEMOGRAPHICS
Demographics
1 Mile
3 Mile
5 Mile
2024 Population
6,194
63,122
169,044
2020 Population
6,520
64,139
165,812
2029 Population
6,112
62,748
169,188
2024-2029 Projected Population Growth
-1.3%
-0.6%
0.1%
Daytime Employees
9,611
40,464
101,190
Total Businesses
1,033
5,207
12,999
Average Household Income
$112,426
$123,176
$121,522
Median Household Income
$85,403
$95,454
$91,300
Total Consumer Spending
$82.7M
$894.3M
$2.4B
Median Age
43.5
41.7
42.1
2024 Households
2,372
24,201
67,154
Percent College Degree or Above
21%
25%
25%
Average Home Value
$501,214
$576,817
$585,926
$ values in USD
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 12-03701-0000-00002 | Improvements Assessment | $605,990 CAD |
| Land Assessment | $931,236 CAD | Total Assessment | $1,537,227 CAD |
SALE ADVISOR
SALE ADVISOR
Matthew Dobrowolski, Sales Associate
(732) 381-7477
Contact
Utilizing his 35 years of experience in National Marketing Matt specializes in vintage and classic homes along with exciting new construction. Matt has been very active working with various large Rahway city developers and area builders in marketing various new upscale apartments and prime retail space. Along with his knowledge of Rahway and the numerous residential and commercial property sales, he has also extended his success to residential, restaurants, commercial, condos, multi families, and land sales in numerous other communities such as Woodbridge, Avenel, Linden, Edison, Hillsborough, Hillside, and Clark just to name a few. Experience, dedication to excellence in “hands on” customer service and marketing has allowed him to have a strong following of clients. Over the years Matt was awarded various levels of the New Jersey Realtors Circle of Excellence award. Matt is ready to help both sellers and buyers. He also is proud to have clients join his new circle of friends whom he continues to help navigate through numerous post sale or purchase issues. Call Matt even if it is just to chat!
ABOUT THE AUCTION PLATFORM
Ten-X Commercial is the leading end-to-end digital transaction platform for commercial real estate. With over $26bn sold, Ten-X’s platform empowers brokers, sellers and buyers with data-driven technology and comprehensive marketing tools to expand market visibility and decrease time to close. Ten-X consistently yields trade rates at two times the industry average. Ten-X expedites the entire CRE transaction timeline by enabling brokers and sellers to tap into a digital platform that makes it easy to onboard properties, evaluate the success of complimentary omnichannel marketing campaigns and follow up on the strongest pre-qualified leads. Buyers are precision-matched with properties aligned with their investment goals, with unprecedented access to market analysis and due diligence documents to help them securely acquire properties online, with confidence.
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AUCTION CONTACT
Jameson Kuykendall
Contact
Auctioneer License:
Ten-X Commercial, LLC Arlene Richardson RE Brkr 2187404
