5 E Front Street, Red Bank, NJ 07701
$2,500,000
Property Type:
Commercial
Lot Size (sq. ft.):
3,485
Status:
Closed
Current Price:
$2,500,000
List Date:
10/27/2023
Last Modified:
2/17/2025
Overview
Description
Incredible opportunity to purchase one of Red Bank's most coveted downtown corners. A value add property with many options savvy investors/developers can capitalize on. The possibility to add floor(s) to the existing building and renovate the entire façade to mimic the architectural beauty of some of the recently developed corner properties in downtown Red Bank.
The offering consists of : 2 adjoining buildings/addresses with (4) retail spaces currently being occupied by 2 tenants & (3) residential units above all are 2 bedroom units with high ceilings.
Proforma (with existing units and footprint) can net a potential investor over $200,000 on a prime piece of commercial property in red hot Red Bank!
Listing Details MLS# 22330098
Contract Info
- Property Sub-Type
- Commercial
- Sale
- Yes
- Lease
- No
Location
- House Number
- 5
- Dir.
- E
- Street Name
- Front
- Street Suffix
- Street
- County
- Monmouth
- Municipality
- Red Bank (RED)
- Postal City
- Red Bank
- State
- NJ
- Zip Code
- 07701
- Area/Section
- None
- Directions
- NW corner of Front St and Wharf Ave
General Property Info
- Handicap Access
- No
- # Levels
- 2
- Garage
- No
- Acreage
- 0.08
- Lot Dimensions
- 40 x 84
- # Car Garage
- 0
Tax and Legal
- Asmnt - Total
- 2241000
- Taxes
- 43685
- Tax Year
- 2022
Status Change Info
- Under Contract Date
- 2024-04-23
- Sold Date
- 2025-01-06
Income & Expenses
- # Rental Units
- 7
- Financials Per
- Year
- Net Operating Income
- 209626
More Information
Use
- Apartments
- Yes
- Florist Shop
- Yes
- Restaurant
- Yes
- Retail
- Yes
Zoning
- Mixed
- Yes
Lot Description
- Corner Lot
- Yes
Water Type
- Riverview
- Yes
Electric
- Other - See Remarks
- Yes
Basement
- Partial
- Yes
Gas
- On Site
- Yes
Water Heater
- Natural Gas
- Yes
Heating
- Natural Gas
- Yes
Water
- Public Water
- Yes
Sewer
- Public Sewer
- Yes
Parking
- On Street
- Yes
- Parking Lot
- Yes
Assessment Status
- Assessed
- Yes
Documents Available
- Financial Statement
- Yes
Property Features
Use:
Apartments; Florist Shop; Restaurant; Retail
Basement:
Partial
Heating:
Natural Gas
Water Heater:
Natural Gas
Water:
Public Water
Sewer:
Public Sewer
Gas:
On Site
Electric:
Other - See Remarks
Parking:
On Street; Parking Lot
Zoning:
Mixed
Lot Description:
Corner Lot
Water Type:
Riverview
Assessment Status:
Assessed
Documents Available:
Financial Statement
Listing Office:
Heritage House Sotheby's International Realty
Listing Agent:
Christopher Pizzola
Last Updated: February - 17 - 2025
Broker Attribution:
732-575-6523
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