December 13, 2021 – David McLaughlin and Michael Lombardi of Horvath & Tremblay have successfully completed the sale of 2 E Main Street in Freehold, New Jersey. Horvath & Tremblay represented the seller and procured the buyer to complete the transaction at a sale price of $935,000.
2 E Main Street is a +/-5,500 square foot three-story commercial building. The first floor is improved by “A Little Bit of Cuba Dos”, a popular restaurant that has occupied the property for more than 10-years, and several commercial suites on the second and third floors. The Property is located in the center of Freehold’s downtown district and offers significant upside potential through lease-up of vacant spaces on the upper floors and by raising currently below market rents to market rates. Additionally, the opportunity exists to convert some of the office space into residential units. The Property is situated at the signalized intersection of E Main Street and South Street in the heart of Freehold’s downtown district. The Property offers close proximity to municipal offices, area schools and convenient access to US Route 9, the area’s primary commercial corridor and NJ Route 33, the area’s primary commuter corridor connecting the property with the Garden State Parkway and Interstate 95. Approximately 47,000 people live within 3-mile of the Property. An impressive 102,700 people live within 5-miles of the Property with an average household income of $160,800. Additionally, the intersection of E Main Street and South Street sees approximately 22,000 vehicles per day.
Horvath & Tremblay is one of the most active and successful Investment Real Estate Brokerage firms in the United States. Our advisors specialize in the sale of single tenant net-lease assets and retail shopping centers. They have experience successfully structuring sale lease-back programs, portfolio dispositions, and 1031 exchanges. Horvath & Tremblay is dedicated to being the best source of information and expertise in the marketplace for private investors, developers, institutions, and industry professionals.