Seacourt Pavilion, Shopping Center 635 Bay Ave 248,727 SF 80% Leased Retail Building Toms River, NJ 08753 For Sale
INVESTMENT HIGHLIGHTS
- Rare Opportunity in Today's Market - 252,727 SF shopping center on ~26 acre in busy Toms River location.
- Credit Anchor Tenancy - Marshalls, HomeGoods, Crunch Fitness, Ashley Furniture and DaVita Dialysis.
- Most Visited Shopping Center in Ocean County, New Jersey - Seacourt Pavilion welcomes 1.3 million visitors annually (per Placer.ai)
- Tremendous Value-Add Opportunity Offered below replacement cost with 80% occupancy.
- Heavily Trafficked Thoroughfare with +43,000 vehicles in AADT on Ocean County 571 and Hooper Avenue combined.
EXECUTIVE SUMMARY
RIPCO REAL ESTATE has been exclusively retained on the disposition of 635 BAY AVENUE IN TOMS RIVER, NEW JERSEY - Seacourt Pavilion (the “Property”).
Seacourt Pavilion is a ~248,727 square foot open-air shopping center on a ~25.67 acre lot. The shopping center consists several national credit tenants including Marshalls, HomeGoods, Crunch Fitness, Ashley Furniture, and DaVita Dialysis alongside a mix of local neighborhood tenants. Several long-standing tenants provide stable income while the 20% vacancy provides a tremendous value-add opportunity.
The Property consists of one main building, two out-parcels, and a ~0.7 acre undeveloped pad site. It is located off Ocean County 571 and Hooper Avenue, a heavily trafficked thoroughfare with +43,000 vehicles per day [AADT] combined. Directly adjacent to the Property is a newly-built 128 unit luxury residences and opening soon is a 68,000 square-foot veterans clinic which will increase patrons to the Property - the most visited shopping center in Ocean County, New Jersey with 1.3 million visitors annually, per Placer.ai.
Seacourt Pavilion provides a rare opportunity to acquire a trophy shopping center at below replacement cost. Please reach out to the exclusive brokers for additional information or to arrange for a property tour.
Seacourt Pavilion is a ~248,727 square foot open-air shopping center on a ~25.67 acre lot. The shopping center consists several national credit tenants including Marshalls, HomeGoods, Crunch Fitness, Ashley Furniture, and DaVita Dialysis alongside a mix of local neighborhood tenants. Several long-standing tenants provide stable income while the 20% vacancy provides a tremendous value-add opportunity.
The Property consists of one main building, two out-parcels, and a ~0.7 acre undeveloped pad site. It is located off Ocean County 571 and Hooper Avenue, a heavily trafficked thoroughfare with +43,000 vehicles per day [AADT] combined. Directly adjacent to the Property is a newly-built 128 unit luxury residences and opening soon is a 68,000 square-foot veterans clinic which will increase patrons to the Property - the most visited shopping center in Ocean County, New Jersey with 1.3 million visitors annually, per Placer.ai.
Seacourt Pavilion provides a rare opportunity to acquire a trophy shopping center at below replacement cost. Please reach out to the exclusive brokers for additional information or to arrange for a property tour.
PROPERTY FACTS
Sale Type
Investment
Sale Condition
REO Sale
Property Type
Retail
Property Subtype
Retail
Building Size
248,727 SF
Building Class
C
Year Built
1989
Percent Leased
80%
Tenancy
Multiple
Building Height
2 Stories
Building FAR
0.22
Lot Size
25.67 AC
Zoning
RC - Regional Commercial Zone
Parking
1,093 Spaces (4.39 Spaces per 1,000 SF Leased)
Frontage
AMENITIES
- Corner Lot
SPACE AVAILABILITY
- SPACE
- SIZE
- SPACE USE
- POSITION
- AVAILABLE
Former AMC Theatre. Opens on grade.
| Space | Size | Space Use | Position | Available |
| 1st Floor | 2,500 SF | Retail | In-Line | Now |
| 135 | 1,712 SF | Retail | In-Line | Now |
| 145 | 1,566 SF | Retail | In-Line | Now |
| 165 | 8,210 SF | Retail | End Cap | Now |
| 200 | 41,772 SF | Retail | End Cap | Now |
1st Floor
| Size |
| 2,500 SF |
| Space Use |
| Retail |
| Position |
| In-Line |
| Available |
| Now |
135
| Size |
| 1,712 SF |
| Space Use |
| Retail |
| Position |
| In-Line |
| Available |
| Now |
145
| Size |
| 1,566 SF |
| Space Use |
| Retail |
| Position |
| In-Line |
| Available |
| Now |
165
| Size |
| 8,210 SF |
| Space Use |
| Retail |
| Position |
| End Cap |
| Available |
| Now |
200
| Size |
| 41,772 SF |
| Space Use |
| Retail |
| Position |
| End Cap |
| Available |
| Now |
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 08 00608-0000-00002- 04 | Improvements Assessment | $26,101,700 |
| Land Assessment | $10,781,400 | Total Assessment | $36,883,100 |
