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604 Richmond Ave 3,541 SF 100% Leased Retail Building Point Pleasant Beach, NJ 08742 $1,750,000 ($494.21/SF) 7.09% Cap Rate
Investment Highlights
- Walking distance to Downtown Pt Pleasant Beach and the Train Station
Executive Summary
5 unit Mixed Use Investment in Pt Pleasant Beach. Retail tenant (Stohrer's Appliances) is on a new 5 year lease (w/ options). Stohrer's has been in business 45+ years in the same location. There are (4) 2nd floor apartments; (2) 1BR/1BA and (2) 2BR/2BA. Two of the apartments have been renovated, and two are in need of renovation.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Storefront Retail/Residential
Building Size
3,541 SF
Building Class
C
Year Built
1940
Price
$1,750,000
Price Per SF
$494.21
Cap Rate
7.09%
NOI
$124,083
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Building FAR
0.18
Lot Size
0.46 AC
Zoning
GC - See attached zoning in Docs.
Frontage
Amenities
- Air Conditioning
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease End
- Stohrers Appliance Video
- Retailer
- -
- -
- -
| Tenant | Industry | SF Occupied | Rent/SF | Lease End | ||
| Stohrers Appliance Video | Retailer | - | - | - |
Walk Score®
Very Walkable (88)
Nearby Major Retailers
Property Taxes
| Parcel Number | 26-00077-0000-00010 | Improvements Assessment | $434,000 |
| Land Assessment | $352,800 | Total Assessment | $786,800 |
Property Taxes
Parcel Number
26-00077-0000-00010
Land Assessment
$352,800
Improvements Assessment
$434,000
Total Assessment
$786,800
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604 Richmond Ave
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