106 Sparta AveNewton, NJ 07860

  • Retail properties
  • 1.71 AC
For Sale
$3,650,000 View listing

Property Details for 106 Sparta Ave

Lot size
1.71 AC
Property type
Retail properties
Property subtype
Lifestyle 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.

106 Sparta Ave, Newton, New Jersey

Location Insight

City
Newton
County
Sussex
State
New Jersey
Latitude
41.0475
Longitude
-74.7447

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