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

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

More Information

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
IDX
Listing Office: Heritage House Sotheby's International Realty
Listing Agent: Christopher Pizzola
Source MLS Verified
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.