Property Details
Price :
Square Feet :
Cap Rate :
$13,361,000
28,110
6.00%
NOI :
Acres :
$801,681
0.27
Property Type :
Property Status :
Retail
Available
Investment Highlights
- Irreplaceable Downtown Red Bank Location – Premier Corner Positioning at Broad & Front Streets in the Heart of One of Monmouth County’s Most Desirable and Walkable Downtown Retail Districts, With a 96 Walk Score and Approximately 35,000 Vehicles Per Day.
- Urban Outfitters Anchored | Long-Term Tenancy – Urban Outfitters Occupies 10,400 Sf (37% of the Property) and has Operated at the Location Since 2009, with its Current Lease Extending Through January 2031.
- Diversified Mixed-Use Income Stream – Fully Leased/Committed 28,110 Sf, Six-Tenant Asset Combining High-Profile Ground-Floor Retail with Established Office and Financial-Services Tenants, Reducing Reliance on any Single Income Source.
- Strong In-Place Cash Flow | $801,681 NOI – The Property Generates Approximately $1.26 Million in Total Annual Income and $801,681 NOI, Offering Investors Substantial Day-One Cash Flow at the $13.361 Million Asking Price / 6.00% Cap Rate.
- Embedded Rent Growth & Upside – Multiple Leases Feature Contractual Rental Increases, Including Scheduled Bumps for Urban Outfitters, Gladstone Wealth, B. Riley Wealth Management and Halcyon Strategic Holdings, Providing Built-In Income Growth During the Hold Period.
- Exceptional Downtown Retail Fundamentals – Red Bank Benefits from Limited Storefront Availability, Historically Low Vacancy, Strong Tenant Demand and a Destination Retail Environment Supported by 100+ Restaurants, Boutiques, Galleries and Entertainment Venues.
- Affluent & Highly Desirable Monmouth County Trade Area – Red Bank Draws from Some of New Jersey’s Most Affluent Surrounding Communities, Including Rumson, Fair Haven, Middletown and Shrewsbury, Supporting High-End Retail, Dining and Service-oriented Uses.
- Rare Trophy-Quality Corner Asset with High Barriers To Entry – Prominent Three-Story Brick Building on Just 0.27 Acres at One of Downtown Red Bank’s Most Visible Intersections, Offering Investors an Opportunity to Acquire Significant Scale in a Supply-Constrained Downtown Where Comparable Assets are Difficult to Replicate.
Listing Contacts
