106 Sparta AveNewton, NJ 07860
- Lifestyle centers
- 1.71 AC
Property Details for 106 Sparta Ave
- Lot size
- 1.71 AC
- Property type
- Lifestyle centers
- Property subtype
- Power centers
Description
This exceptional investment opportunity presents a five-unit strip mall in Newton, New Jersey, situated on a 1.71-acre lot with over 60 parking spaces. The property boasts a 100% occupancy rate, anchored by a QuikChek and complemented by a diverse mix of tenants including a laundromat, community college classroom space, an arts and crafts store, and Krave Restaurant. All tenants operate under long-term, triple-net (NNN) leases, ensuring consistent cash flow and minimal landlord responsibilities. The property generates a substantial net operating income (NOI) of $215,734, yielding a compelling 5.91% capitalization rate. The single-story building is zoned for commercial use and benefits from a high-traffic location on Sparta Avenue, providing excellent visibility and accessibility. Rent bumps are available upon request. This value-add investment is offered at $3,650,000 and is suitable for a 1031 exchange. The property's strong tenant lineup, prime location, and substantial NOI make it an attractive opportunity for investors seeking stable returns and potential for future growth. Detailed financial information, including rent schedules and lease terms, is available upon request.
Location Insight
- City
- Newton
- County
- Sussex
- State
- New Jersey
- Latitude
- 41.0475
- Longitude
- -74.7447
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