REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.
In-PersonVirtual Tour
$ 2,000,000
Est. payment | /mo
6,167 SqFt
$ 2,000,000
Est. payment | /mo
6,167 SqFt
Key Details
Property Type Commercial
Sub Type Commercial
Listing Status Active
Purchase Type For Sale
Square Footage 6,167 sqft
Price per Sqft $324
Municipality Wall (WAL)
MLS Listing ID 22518815
Annual Tax Amount $18,838
Tax Year 2024
Lot Size 1.290 Acres
Acres 1.29
Property Sub-Type Commercial
Source MOREMLS (Monmouth Ocean Regional REALTORS®)
Property Description
Seize a rare opportunity to develop 18 apartments/condos 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.
Location
State NJ
County Monmouth
Area None
Direction Rt 34 South. Almost exactly 2 miles south of the GSP on the right hand side.
Exterior
Parking Features Paver Block
Private Pool No
Building
Sewer Public Sewer
Water Public
Others
Senior Community No
Tax ID 52-00831-0000-00030
Listed by Real Broker, LLC- Red Bank
GET MORE INFORMATION
Katora Yim
REALTOR® | Lic# 9804062