88-92 Broad Street, Keyport, NJ 07735

$1,800,000

Property Type: Commercial Square Footage: 6,832 Lot Size (sq. ft.): 6,098 Status: Closed

Current Price: $1,800,000 List Date: 5/14/2024 Last Modified: 2/19/2025

Overview

Description

Tremendous investment opportunity in Monmouth County consisting of a mixed-use 4 commercial units and 6 residential units with a total rental income of $197K/year. The property is fully occupied with long-term tenants. The subject property includes two parcels of land. The first parcel is a two-story mixed use with 4 commercial and 4 residential tenants which also includes a 14-parking space private parking lot! The second parcel is a detached duplex apt, with 2 residential units, and a separate two car parking spaces. Many repairs and upgrades since we purchased this property! Surveillance system in place to remotely monitor and manage your investment. All utilities have been split, so each tenant pay their own.

Supplements: Except the rear home landlord pays water/sewer. The property address is 88-92 broad street, borough of Keyport. Asking price: $2.195M With an 7% to 8% Cap rate, and a roughly equal distribution of rental income between commercial and residential tenants, this property will not last on the market. The seller is willing to provide financing at an att ... (Read more)

Listing Details MLS# 22413404

Contract Info

Property Sub-Type: Mixed Use
Sale: Yes
Lease: No
List Price/SqFt: 321.28

Location

House Number: 88-92
Street Name: Broad
Street Suffix: Street
County: Monmouth
Municipality: Keyport (KEY)
Postal City: Keyport
State: NJ
Zip Code: 07735
Area/Section: None
Directions: maps
Business District: Yes
Comm Distr: Yes
Historic Dist: Yes
Near Parkway Access: Yes
Res Distr: Yes

General Property Info

Handicap Access: Yes
# Levels: 2
Apx SqFt: 6832
Apx Year Built: 1900
Garage: No
# Parking Spaces: 16
Acreage: 0.14
Lot Dimensions: 70 x 87
Business Operating: Yes
# Car Garage: 0

Tax and Legal

Asmnt - Total: 1384600
Taxes: 30434
Tax Year: 2023

Status Change Info

Under Contract Date: 2024-10-23
Sold Date: 2024-11-01

Income & Expenses

# Rental Units: 10
Gross Income: 196200
Net Operating Income: 160200
Insurance: 8888.22
Repair/Maintenance: 1000
RE Taxes: 31500
Water/Sewer: 500
Other Exp Amt 1: 200

More Information

Use

Apartments: Yes
Barber/Salon: Yes
Convenience Store: Yes

Interior

Fire Alarm: Yes
Fluorescent: Yes

Zoning

Commercial: Yes
Multi-Use: Yes

Lot Description

Corner Lot: Yes
Fenced/Enclosed Area: Yes
Major Frntg: Yes
Multilot Sub: Yes
Sidewalks: Yes

Floors

Marble: Yes
Tile: Yes
Wood: Yes

Electric

110 Volt: Yes
220 Volts: Yes
60 - 100 AMP: Yes

Basement

Full: Yes
Locked Storage: Yes
Tenant Access: Yes
Tenant Storage: Yes
Walk-Out Access: Yes

Gas

On Site: Yes

Cooling

Central Air: Yes

Water Heater

Electric: Yes
Natural Gas: Yes
Tank: Yes

Heating

Forced Air: Yes
Natural Gas: Yes

Water

Public Water: Yes

Sewer

Public Sewer: Yes

Exterior

Fenced: Yes
Lighting: Yes
Security System: Yes

Common Elements

Common Area: Yes
Deck: Yes

Parking

Assigned: Yes
Lighted: Yes
Off Street: Yes
On Site: Yes
Reserved: Yes

Assessment Status

To Be Assessed: Yes

Financing

Cash: Yes

Construction/Siding

Block: Yes
Brick Veneer: Yes
Stucco: Yes
T111: Yes
Wood: Yes

Roof

A-Frame: Yes
Asphalt: Yes
Flat: Yes
Shingle: Yes
Skylights: Yes

Material

Block: Yes
Brick: Yes

Sale Includes

Goodwill: Yes

Sale Excludes

Business Name: Yes
Equipment/Furniture: Yes
Franchise: Yes
Inventory: Yes
Machinery: Yes
Signs: Yes

Landlord Pays

Garbage Removal: Yes
Insurance: Yes
Sewer: Yes
Snow Removal: Yes
Taxes: Yes
Water: Yes

Documents Available

Survey: Yes

Energy Features

Energy Appliances: Yes
Insulated Doors: Yes
Insulated Windows: Yes
Program Thermostat: Yes
Storm Doors: Yes

Property Features

Location: Business District; Comm Distr; Historic Dist; Near Parkway Access; Res Distr; Business District; Comm Distr; Historic Dist; Near Parkway Access; Res Distr Use: Apartments; Barber/Salon; Convenience Store Interior: Fire Alarm; Fluorescent Floors: Marble; Tile; Wood Basement: Full; Locked Storage; Tenant Access; Tenant Storage; Walk-Out Access Cooling: Central Air Heating: Forced Air; Natural Gas Water Heater: Electric; Natural Gas; Tank Water: Public Water Sewer: Public Sewer Gas: On Site Electric: 110 Volt; 220 Volts; 60 - 100 AMP Exterior: Fenced; Lighting; Security System Parking: Assigned; Lighted; Off Street; On Site; Reserved Roof: A-Frame; Asphalt; Flat; Shingle; Skylights Material: Block; Brick Sale Includes: Goodwill Sale Excludes: Business Name; Equipment/Furniture; Franchise; Inventory; Machinery; Signs Zoning: Commercial; Multi-Use Lot Description: Corner Lot; Fenced/Enclosed Area; Major Frntg; Multilot Sub; Sidewalks Common Elements: Common Area; Deck Landlord Pays: Garbage Removal; Insurance; Sewer; Snow Removal; Taxes; Water Assessment Status: To Be Assessed Documents Available: Survey Financing: Cash Energy Features: Energy Appliances; Insulated Doors; Insulated Windows; Program Thermostat; Storm Doors

Listing Office: Your Town Realty

Listing Agent: Ronnie Glomb

Last Updated: February - 19 - 2025

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