A commercial property at 160 Main St. in Matawan has sold for $2.1 million to an unnamed buyer, according to a statement last week from Colliers .

The transaction involves a freestanding 1.5-story multi-tenant retail and office building situated on a 0.64-acre property.

Colliers classified the deal as a “unique high-visibility property with multifamily development potential signals continued market growth.”

The property’s development potential stems from a zoning agreement the previous owners secured with the borough this year.

The zoning permits construction of a 46-unit multifamily and retail building on the site.

Developers can build a three-story structure encompassing approximately 44,725 square feet of residential space and 3,040 square feet of retail space, along with associa

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