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
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!
More Information MLS# 22330098
Contract Info
Sale: Yes
Lease: No
Status: Closed
List Date: 2023-10-26
Property Sub-Type: Commercial
Sold Price: $2,500,000
Current Price: $2,500,000
Location
Area/Section: None
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
Directions: NW corner of Front St and Wharf Ave
General Property Info
Handicap Access: No
# Levels: 2
Acreage: 0.08
Lot Dimensions: 40 x 84
Garage: No
# Car Garage: 0
Tax and Legal
Asmnt - Total: 2241000
Taxes: 43685
Tax Year: 2022
Income & Expenses
# Rental Units: 7
Financials Per: Year
Net Operating Income: 209626
Use
Apartments: 1
Florist Shop: 1
Restaurant: 1
Retail: 1
Zoning
Mixed: 1
Lot Description
Corner Lot: 1
Water Type
Riverview: 1
Electric
Other - See Remarks: 1
Basement
Partial: 1
Gas
On Site: 1
Water Heater
Natural Gas: 1
Heating
Natural Gas: 1
Water
Public Water: 1
Sewer
Public Sewer: 1
Parking
On Street: 1
Parking Lot: 1
Assessment Status
Assessed: 1
Documents Available
Financial Statement: 1
Status Change Info
Under Contract Date: 2024-04-23
Sold Date: 2025-01-06
Sold Price: $2,500,000
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
The data relating to real estate on this web site comes in part from the Internet Data Exchange program of the MLS of the Monmouth Ocean Regional REALTORS®, and site contains live data. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.