5 E Front Street, Red Bank, NJ 07701 (MLS# 22330098)

5 E Front Street, Red Bank, NJ 07701

$2,500,000

7 E Front St Unit 5 Red Bank NJ 07701 US

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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

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.