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701-703 Monroe Ave 3,648 SF Retail Building Asbury Park, NJ 07712 $2,499,999 ($685.31/SF)
Executive Summary
Exceptional opportunity to acquire prime real estate in one of the fastest-growing pockets of Asbury Park. Located along the Monroe Ave corridor near Bangs Ave, this site sits in an area undergoing significant transformation, with multiple mixed-use projects approved and under construction nearby. Zoning permits mixed-use development with retail at street level and residential above, with nearby approvals supporting mid-rise construction. Strong frontage and visibility with close proximity to Downtown Cookman Ave, the Asbury Park Boardwalk, and NJ Transit rail service. Asbury Park has been named a top beach town by Travel + Leisure, while nearby Netflix investment is fueling continued population growth, increased tourism, and long-term housing demand.
Property Facts
Sale Type
Investment
Sale Condition
Redevelopment Project
Property Type
Retail
Property Subtype
Freestanding
Building Size
3,648 SF
Building Class
C
Year Built
1965
Price
$2,499,999
Price Per SF
$685.31
Tenancy
Single
Building Height
1 Story
Building FAR
0.33
Lot Size
0.25 AC
Opportunity Zone
Yes
Zoning
SF05 - Intended to support mixed-use development,
Parking
10 Spaces (5.64 Spaces per 1,000 SF Leased)
Frontage
51’ on Monroe Ave
Moderately walkable
70/100
Fairly drivable
50/100
Good public transit
60/100
Moderately bikeable
60/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 04-02608-0000-00007 | Improvements Assessment | $248,100 |
| Land Assessment | $312,500 | Total Assessment | $560,600 |
Property Taxes
Parcel Number
04-02608-0000-00007
Land Assessment
$312,500
Improvements Assessment
$248,100
Total Assessment
$560,600
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701-703 Monroe Ave
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