Press Release brought to you by Besen Special Assets / A Division of the Besen Group

REO Asset Sale: 5,530 SF Mixed-Use Retail/Residential Building in Ocean County, NJ

09/19/2013
 
Building Address: 
 2621 Bridge Avenue, Point Pleasant, NJ 08742
Price: 
Undisclosed
Description: 
5,530 SF Mixed-Use Retail/Residential Building

Address
2621 Bridge Avenue
Point Pleasant, NJ 08742
Corner of Bridge & Curtis Avenue
Ocean County

Asset Details
Property Type: Mixed-Use (Retail/Residential)
Block/Lot: 223/13
Building Size: 5,530 gross SF
Building Breakdown: ±2,500 SF of on grade retail, ±1,000 SF of 2nd floor retail, ±2,000 SF apartment (3BR/2 bath)
Lot Size: 11,600 SF
Stories: Two (2)
Built: 1980
Zoning: CM / Commercial
Parking: 10 lined spaces. 8 in front for the store, 2 on the side for employees and apartment
Taxes: $9,733 (2013)
Tax Assessment: $553,000 (2013)

Overview

The subject is a 5,530 SF mixed-use building constructed in 1980. The building sits on an approximately 12,000 SF corner lot on a main retail artery in Point Pleasant with easy access and great visibility and signage. The building contains approximately 2,500 SF of ground floor retail with an additional 1,000 SF of retail space on the second floor. The retail space is occupied by Reel Life Bait and Tackle, a successful well-known local business which has been in operation since 1992. Furthermore, there is a 2000 SF three (3)-bedroom, two (2)-bathroom well-maintained apartment on the second floor which is occupied by the owner of the store. The apartment features newer windows, two fireplaces, a full bar and a rear balcony/roof deck. The building is well maintained. All HVAC and heating systems were upgraded within the last 4 years and the roof was replace approximately 6 years ago. The asset is located 2 miles from the beach and 5 miles from the Garden State Parkway exit 90.
09/19/2013 - 14:31

Source

Besen Special Assets / A Division of the Besen Group

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