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$ 14,995,000
Est. payment /mo
New
2100 Corlies Avenue Neptune City, NJ 07753
33,272 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Commercial
Listing Status Active
Purchase Type For Sale
Square Footage 33,272 sqft
Price per Sqft $450
Municipality Neptune City (NEP)
MLS Listing ID 22522042
Year Built 2009
Lot Size 4.380 Acres
Acres 4.38
Property Sub-Type Commercial
Source MOREMLS (Monmouth Ocean Regional REALTORS®)
Property Description
We are pleased to announce the rare offering of The Neptune Medical Arts Building, a fully leased Class-A medical office condo located across from Jersey Shore University Medical Centera leading regional hospital and trauma centerthis ±33,272 square foot unit is 100% leased to a diverse group of eight medical tenants, including nationally recognized healthcare providers and specialized practices. All tenants are on triple-net (NNN) leases, offering investors long-term, passive income with limited operational responsibilities and built-in rental growth through annual escalations.
There is opportunity for a practice to take over space as leases come due for an end user with strong income from existing tenants as well as increased exposure in this rare medical corridor.
Originally constructed in 2009, the Neptune Medical Arts Building features institutional-grade construction, efficient layouts, and high-quality tenant buildouts tailored to clinical and diagnostic use. The existing tenant roster includes anchor tenants such as Hackensack Meridian Health, the Neurosurgery Institute, and Rebirth Recoveryeach with significant investment in infrastructure, reinforcing their long-term commitment to the space. Many of the current tenants have been in occupancy since the building's completion, underscoring the property's strong retention history and the critical nature of the location.
The building is organized as a two-unit commercial condominium. Unit #1 is owned and occupied by Jersey Shore Imaging, which manages its own interior improvements and contributes to CAM and shared grounds maintenance. Unit #2the subject of this offeringfunctions as a fully independent investment asset, delivering a very strong and steady income from a multi-tenant rent roll with staggered lease maturities and a history of renewals.
The property's ±4.338-acre site includes 195 surface parking spaces, significantly exceeding code requirements and providing a major competitive advantage in the medical office sector. Additionally, there is an opportunity to expand the building by an estimated 6,000 to 10,000 square feet above the Rebirth Recovery suite, allowing a future owner to grow rentable area without disrupting current tenancy or operations.
Overall, this generational asset combines stable cash flow, high-quality tenancy, and long-term continual growth in a premier medical location. The asset is ideally suited for private investors, 1031 exchange buyers, most notably, end users or healthcare groups seeking a strategic foothold near one of the most prominent hospitals in the region.
There is opportunity for a practice to take over space as leases come due for an end user with strong income from existing tenants as well as increased exposure in this rare medical corridor.
Originally constructed in 2009, the Neptune Medical Arts Building features institutional-grade construction, efficient layouts, and high-quality tenant buildouts tailored to clinical and diagnostic use. The existing tenant roster includes anchor tenants such as Hackensack Meridian Health, the Neurosurgery Institute, and Rebirth Recoveryeach with significant investment in infrastructure, reinforcing their long-term commitment to the space. Many of the current tenants have been in occupancy since the building's completion, underscoring the property's strong retention history and the critical nature of the location.
The building is organized as a two-unit commercial condominium. Unit #1 is owned and occupied by Jersey Shore Imaging, which manages its own interior improvements and contributes to CAM and shared grounds maintenance. Unit #2the subject of this offeringfunctions as a fully independent investment asset, delivering a very strong and steady income from a multi-tenant rent roll with staggered lease maturities and a history of renewals.
The property's ±4.338-acre site includes 195 surface parking spaces, significantly exceeding code requirements and providing a major competitive advantage in the medical office sector. Additionally, there is an opportunity to expand the building by an estimated 6,000 to 10,000 square feet above the Rebirth Recovery suite, allowing a future owner to grow rentable area without disrupting current tenancy or operations.
Overall, this generational asset combines stable cash flow, high-quality tenancy, and long-term continual growth in a premier medical location. The asset is ideally suited for private investors, 1031 exchange buyers, most notably, end users or healthcare groups seeking a strategic foothold near one of the most prominent hospitals in the region.
Location
State NJ
County Monmouth
Area None
Direction Rt 18 to Rt 33 and 2100 Corlies is on the right.
Exterior
Parking Features On Site, Parking Lot, Paver Block
Private Pool No
Building
Sewer Public Sewer
Water Public
Others
Senior Community No
Tax ID 36-00116-0000-00002-02
Listed by Douglas Elliman of NJ LLC