Property Details
Price :
Square Feet :
Cap Rate :
$50,105,000
310,023
6.07%
NOI :
Acres :
$3,043,607
31.89
Property Type :
Property Status :
Mixed-Use
Available
Investment Highlights
Marcus & Millichap has been selected to exclusively market for sale the Ocean County Middle Market Portfolio, a 310,023-square-foot retail/office
portfolio located across the Ocean County townships of Toms River and Brick, New Jersey. All 10 properties offer easy access to the Jersey
Shore, Route 37, Route 9, and the Garden State Parkway. The portfolio benefits from a strong local demographic profile, as both Brick and
Toms River, along with nearby Lakewood, make up the most populous municipalities in Ocean County, with an average household income of
nearly $100,000.
Currently 70% leased to over 100 tenants, the portfolio will offer new ownership stable in-place cash flow in addition to significant value-add
potential through lease-up of the current vacant units, immediately boosting returns. With such a large number of tenants, income is diversified
throughout the entire portfolio, mitigating risk for ownership. A cluster of the portfolio is located in the Holiday City area of Toms River,
catering to a large population of senior citizens. Many of the properties are offered at a low basis well below replacement cost.
The next owner of the Ocean County Middle Market Portfolio will be acquiring a rare collection of retail and office assets minutes from the
Jersey Shore, and in proximity to the major employment metros of Philadelphia and New York City. The sizable in-place cash flow and highly
desirable value-add upside create the ideal south-central New Jersey retail and office portfolio offering.
Listing Contacts
