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2337 Highway 34 - The Dunes Shore Hills Development Opportunity 1.3 Acres of Residential Land Offered at $2,000,000 in Manasquan, NJ 08736
EXECUTIVE SUMMARY
Seize a rare opportunity to develop 18 apartments or condos with an an amendment to the redev plan on a prime lot just minutes from Manasquan Beach, Brielle, Sea Girt, and Point Pleasant Beach. Currently an operating motel it's been rezoned by the town from commercial to high density residential to meet NJ's housing demand. This lot is a high-value investment. In the 08736 zip code this affluent community, with a $150,523 median household income, $91,786 per capita income, and 73% with Bachelor's degrees, ensures strong buyer appeal. Develop premium condos where the median listing price of 2-3 bedroom condos is $850,000 and overall median listing home price (all property types) is about $1.3M / ~$464/ft²., and rents for 2-3 bedroom apartments averaging $3500 - $4100/month reflecting a VERY desirable coastal area. Contact us for more information to schedule a tour and to unlock this profitable venture.
*No approvals as of yet, but seller has agreed to sell with approval contingencies. **All due diligence and approvals are responsibility of buyer.
*No approvals as of yet, but seller has agreed to sell with approval contingencies. **All due diligence and approvals are responsibility of buyer.
PROPERTY FACTS
| Price | $2,000,000 | Property Type | Land |
| Sale Type | Investment | Property Subtype | Residential |
| Sale Condition | Redevelopment Project | Proposed Use | Apartment Units - Condo |
| No. Lots | 1 | Total Lot Size | 1.30 AC |
| Zoning | AHR-7 - AHR-7 | ||
| Price | $2,000,000 |
| Sale Type | Investment |
| Sale Condition | Redevelopment Project |
| No. Lots | 1 |
| Property Type | Land |
| Property Subtype | Residential |
| Proposed Use | Apartment Units - Condo |
| Total Lot Size | 1.30 AC |
| Zoning | AHR-7 - AHR-7 |
1 LOT AVAILABLE
Lot 30
| Price | $2,000,000 | Lot Size | 1.30 AC |
| Price Per AC | $1,538,461.54 |
| Price | $2,000,000 |
| Price Per AC | $1,538,461.54 |
| Lot Size | 1.30 AC |
PROPERTY DESCRIPTION 1.3 Acres Rezoned to AHR-7 Block 831, Lot 30 18 Residential Units 15 Market Rate 3 Affordable 12,000 - 27,599 SF Building Footprint 3 Residential Floors 2,000 SF Gross per Unit
DESCRIPTION
Currently an operating profitable motel that was rezoned in 2023 to high density residential.
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PROPERTY TAXES
| Parcel Number | 52-00831-0000-00030 | Improvements Assessment | $517,800 |
| Land Assessment | $375,000 | Total Assessment | $892,800 |
PROPERTY TAXES
Parcel Number
52-00831-0000-00030
Land Assessment
$375,000
Improvements Assessment
$517,800
Total Assessment
$892,800
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2337 Highway 34 - The Dunes Shore Hills Development Opportunity
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