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21216294
21256287

1090 US-22, Clinton, NJ 08833

CM
NJ 0678808, FL BK3569748
LivX
Listed by LivX
$1,299,000
253 days on market
Updated 97 days ago

1090 Route 22 West

Details
APN 1006_4.03_33
Property Type Retail, Multifamily (+3)
Sub Type Restaurant, Bar
Units 6
Occupancy 100%
Pro-Forma Cap Rate 7.62%
Pro-Forma NOI $99,000
Class C
Year Built 1940
Year Renovated 2021
Buildings 3
Stories 2
Lot Size (SqFt) 170,755.2
Zoning C-ROM
Investment Type Owner/User
Ownership For Sale
Sale Condition 1031 exchange

Investment Opportunity: Mixed-Use Retail & Residential on 3.92 Acres

Marketing description

Clinton Township, NJ | US Route 22 Corridor

Mixed-use retail and residential investment property situated on 3.92 acres with strong highway visibility along US Route 22 in Clinton Township.

Property Highlights

  • Mixed-Use Retail & Residential

    • Ground-level retail / commercial space

    • Multiple residential rental units with in-place income

  • Traffic & Visibility

    • Frontage on US Route 22

    • Approx. 19,600–22,600 vehicles per day (AADT)

  • Parking

    • Approximately 100 on-site parking spaces

  • Zoning

    • C-ROM zoning, allowing a range of commercial and mixed-use uses

Income Overview

In-Place Monthly Rents:

  • Residential Unit #1: $1,500

  • Residential Unit #2: $1,400

  • Room rentals (aggregate): $2,400

  • Garage / flex space: $2,000

Current Gross Monthly Income: $7,300
Current Gross Annual Income: ~$87,600

Upside / Gross Rent Potential

  • Main retail / office space offers $2,500–$3,500 per month potential

  • Stabilized Gross Rent Potential:
    ~$9,800–$10,800/month
    ~$117,600–$129,600/year

Liquor License

  • Liquor license may include liquor license or purchase separately

Investment Thesis

Cash-flowing mixed-use asset with verified traffic counts, strong in-place income, and additional upside through leasing of retail/office space or future redevelopment along the US Route 22 corridor.

Marketing by Clay Mason (Partner, LivX Realty). Acting as an owner’s representative for marketing purposes. All transactions subject to owner approval and execution of definitive agreements. Liquor license available and transferable subject to municipal and NJ ABC approval; license terms negotiated separately and are not guaranteed.

Investment highlights

  • Bar/ Restaurant, liquor license OPTIONAL NOT SOLD WITH PROPERTY

  • 2 cottages, & a 5 room rental above the bar

  • 3.92 acres.

  • High traffic & high visibility up & down Route 22,

  • Lots of parking.

  • Other uses include Retail sales as described in the C-1 zone & C-ROM Zoning

  • Great passive income with 3 rental units.

  • Full Kitchen, New bathrooms renovated

  • Central AC unit has been recently replaced 2020

  • Furnace & hot water heater replace 2021 aprx.

Listing Contacts

CM
NJ 0678808, FL BK3569748
LivX
Listed by LivX

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Additional Information

Name
Clay Mason
License
0678808
Brokerage
LivX
Title
Commercial Broker
Brokerage Address
29 Evans Place
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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