Investment Overview

Marcus and Millichap is proud to present: 3043 South Black Horse Pike, Monroe NJ 08094. Located in Glouchester County, the subject land parcel consists of 168 acres of vacant land.

The 168 acre site has 138 acres that are build-able. The subject property received a General Development Plan (GDP) approval for the development and construction of 219 single family homes, 268 townhouse dwellings, 100 assisted living units, 70 independent living units, a 4,900 square foot restaurant, a 106-room hotel, and over 107,000 square feet of retail space. The GDP is intended as a precursor to subdivision or site plan application and gives protection against future zoning changes. According to the township planner this GDP does not expire.

This property is approximately halfway between Philadelphia and the Southern New Jersey Shore Line, notably Atlantic City and Ocean City. Monroe Township is conveniently located under 30 miles from Medford, Marlton, Mount Laurel, Moorestown, Cherry Hill, and Philadelphia. With this close of proximity to major employment corridors, this offers a great opportunity for housing development with a desirable location.

Monroe Township has had roughly a 5% population increase since 2010. With the population bump, there has also been average household income rise of over 70% in the past 10 years with the median income expected to reach over $100,000 by 2022.