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NJ Retail + Multifamily Conversion 2 E Main St 7,801 SF 33% Leased Retail Building Online Auction Sale Freehold, NJ 07728
Matterport 3D Tours
INVESTMENT HIGHLIGHTS
- Three-story mixed-use property in one of New Jersey’s top downtown locations.
- Ground-floor space is occupied by an established restaurant.
- Tours are available November 25th from 9:00 - 11:00 AM, please contact Brittany Leventoff to schedule by emailing brittany.leventoff@colliers.com
- Approvals in-place to convert floors 2 and 3 into four large two-bedroom units.
- Large public parking lot in the rear of the property.
EXECUTIVE SUMMARY
2 East Main Street is a ±7,801-square-foot mixed-use building located in Freehold, Monmouth County, New Jersey. Floor 1 is occupied by Saffron Fine Indian Cuisine, an established restaurant. Floors 2 and 3 are vacant and approved for four two-bedroom apartment units. To the rear of the property is a large public parking lot. Parking is metered during the day, but annual parking permits are available for purchase. 2 East Main Street is located in the heart of downtown Freehold, one of the most coveted downtown locations in Monmouth County. The neighborhood features a diverse mix of dining, retail, and nightlife options. Freehold is widely regarded as a coveted place to live, offering suburban charm with a vibrant downtown, proximity to the beach and New York City, a strong school system, and an abundance of outdoor activities. There is a major $100 million+ development project underway just a few blocks away.
Property tours are available by appointment only. Please contact the listing broker to schedule.
Property tours are available by appointment only. Please contact the listing broker to schedule.
MATTERPORT 3D TOURS
3D Exterior
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DATA ROOM Click Here to Access
- 1) Financials
- 2) Property Information
- 3) Offering Memorandum
- 4) Title & Insurance
- 5) Purchase Agreement
- 6) Third Party Reports
MARKET ANALYTICS Click Here to Access
PROPERTY FACTS
Sale Type
Investment
Sale Condition
Auction Sale
Type of Ownership
Fee Simple
Property Type
Retail
Property Subtype
Storefront Retail/Residential
Building Size
7,801 SF
Building Class
B
Year Built
1900
Percent Leased
33%
Tenancy
Multiple
Building Height
3 Stories
Building FAR
5.97
Lot Size
0.03 AC
Parcel Number
16-00062-0000-00001
Zoning
C-0 - RETAIL / OFFICE / MEDICAL
Frontage
AMENITIES
- Recessed Lighting
- Air Conditioning
Walk Score®
Very Walkable (89)
DEMOGRAPHICS
Demographics
1 Mile
3 Mile
5 Mile
2024 Population
14,573
46,523
97,714
2020 Population
15,380
49,174
103,348
2029 Population
14,376
45,883
96,357
2024-2029 Projected Population Growth
-1.4%
-1.4%
-1.4%
Daytime Employees
8,541
37,133
67,426
Total Businesses
998
3,948
6,404
Average Household Income
$97,370
$146,367
$156,889
Median Household Income
$73,604
$119,293
$132,991
Total Consumer Spending
$154.4M
$663M
$1.5B
Median Age
37.5
41.8
44.0
2024 Households
4,868
16,044
33,885
Percent College Degree or Above
18%
26%
27%
Average Home Value
$420,120
$554,254
$577,569
$ values in USD
NEARBY MAJOR RETAILERS
SALE ADVISORS
SALE ADVISORS
Jacklene Chesler, Vice Chair
Jacklene serves as Vice Chair and provides Investment Sales & Advisory expertise to institutional and private investors. She focuses on all major product types including Office, Industrial, Retail, Residential/Mixed Use and Land. She has vast experience in working with Special Servicers (Loan and REO teams), Asset Mangers and other Fidicuciary Agents on CMBS and balance sheet properties, and other type of distressed assets. She is also very active with marketing and selling properties via online auctions, most notable Tenx.com.
Jacklene joined the firm in 2013. Prior to Colliers, she was a Director for the NKF Capital Markets Tri-State Team from 2008 to 2013. She has been a top 10% producer for Colliers from 2014 to current year and recognized for this achievement by being part of the prestigious Everest Club.
Jacklene joined the firm in 2013. Prior to Colliers, she was a Director for the NKF Capital Markets Tri-State Team from 2008 to 2013. She has been a top 10% producer for Colliers from 2014 to current year and recognized for this achievement by being part of the prestigious Everest Club.
Patrick Norris, Vice President
Patrick Norris, Vice President, has been part of the commercial real estate industry since 2016. He specializes in institutional, as well as private investor sale transactions throughout New Jersey and the surrounding tri-state metropolitan region. In addition to executing highly competitive traditional marketing campaigns, Patrick is an expert at selling properties via online auction platforms including Ten-X Commercial.
Patrick has been involved in the marketing and sale of office, retail, industrial and multi-family assets. He was recognized by Real Estate Weekly as a “2018 Rising Star of Real Estate”. Patrick was named to the Mid Atlantic Real Estate Journal’s 2022 “30 Under 30”. Also he received the Platinum Broker Award by Crexi.
Patrick is a member of National Association of Industrial and Office Professionals (NAIOP) Developing Leaders, Industrial and Office Real Estate Brokers Association (IOREBA) Next Gen and International Council of Shopping Centers (ICSC).
Patrick has been involved in the marketing and sale of office, retail, industrial and multi-family assets. He was recognized by Real Estate Weekly as a “2018 Rising Star of Real Estate”. Patrick was named to the Mid Atlantic Real Estate Journal’s 2022 “30 Under 30”. Also he received the Platinum Broker Award by Crexi.
Patrick is a member of National Association of Industrial and Office Professionals (NAIOP) Developing Leaders, Industrial and Office Real Estate Brokers Association (IOREBA) Next Gen and International Council of Shopping Centers (ICSC).
ABOUT THE AUCTION TECHNOLOGY
Auctions by Ten-X are the #1 transaction technology powering commercial real estate transactions online. With over $34B in total transactions, these auctions use best-in-class technology and real-time asset intelligence to put listings in the best position to find the perfect buyer. The expedited auction timeline, comprehensive due diligence, and buyer qualification make transactions twice as fast and twice as certain for brokers, owners, and investors.
Read More
AUCTION CONTACT
Pace Zambito
Contact
Auctioneer License:
Ten-X Commercial, LLC Arlene Richardson RE Brkr 2187404
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VIDEOS
MATTERPORT 3D EXTERIOR
MATTERPORT 3D TOURS
PHOTOS
STREET VIEW
STREET
MAP
3% Transaction Fee
Based on Winning Bid Amount
Minimum Transaction Fee
$20,000 USD
Maximum Transaction Fee
$300,000 USD
Example Calculation
Winning Bid Amount
$5,000,000 USD
Transaction Fee
$150,000 USD (3%)
Total Purchase Price
$5,150,000 USD
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NJ Retail + Multifamily Conversion | 2 E Main St
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