200 Park Avenue, Freehold Borough, NJ 07728 For Sale

Colliers, as exclusive advisor to ownership, is pleased to present the sale of 200 Park Avenue, Freehold Borough, Monmouth County, New Jersey (“200 Park Avenue” or the “Property”).

The Property presents a rare opportunity to acquire a fully approved multifamily development site in the heart of Freehold Borough, one of Monmouth County’s most supply-constrained and rapidly evolving submarkets. Situated on ±1.47 acres with an existing ±6,543 SF structure, the Property is approved for 52 residential units, allowing investors to immediately advance a best-in-class residential project. The approved plans feature a strategic unit mix, ample parking, and modern building parameters designed to capture strong tenant demand from a high-income, densely populated area. The Property also benefits from the ability to apply for a 5-year tax exemption and abatement, providing meaningful early-year tax savings.

Located one block from the 57-acre Freehold Raceway redevelopment, the Property is positioned to benefit from a transformative mixed-use project expected to bring new retail, dining, hospitality, and entertainment uses to the area. It is also approximately 0.5 miles from Freehold Borough Center, a major NJ Transit bus hub providing direct service to New York City and regional connectivity throughout New Jersey. Additional demand drivers include rising housing costs, limited supply, and major regional investments such as Netflix’s $1 billion Fort Monmouth redevelopment.

The Monmouth County multifamily market is supported by strong tenant demand, high occupancy, and consistent rental growth, with rents increasing an average of 5.6% annually over the last five years. Driven by affluent household incomes, excellent regional connectivity, and a stable residential base, the market provides a compelling foundation for newly developed multifamily communities.