295 Us-46Rockaway, NJ 07866

Property Details for 295 Us-46

Lot size

6.78 AC

Property size (Sq ft)

96,470 SF

Property type

Retail properties

Property subtype

Lifestyle centers

Description

This exceptional 96,470 square foot shopping center in Rockaway, New Jersey presents a compelling value-add investment opportunity. The property boasts a prime location on Route 46, offering over 400 feet of high-visibility frontage and easy access to major roadways like Routes 80 and 10. Currently at 59% occupancy, the 17-unit, two-story building situated on a 6.78-acre lot presents significant potential for increased cash flow. The HC-2 (Highway Commercial) zoning allows for flexible uses, catering to a variety of retail and commercial tenants. The property's existing anchor tenant, Dollar General, and its proximity to a substantial residential population, ensures a strong customer base. The on-grade access to both floors enhances operational efficiency and tenant appeal. This is an ideal opportunity for investors seeking to capitalize on a prime retail location with significant upside potential in a thriving market. The substantial vacant space (41%) allows for repositioning and lease-up strategies to maximize returns. This property offers a unique blend of established tenancy and significant redevelopment potential in a highly desirable commercial corridor.

Location Insight

City

Rockaway

County

Morris

State

New Jersey

Latitude

40.891

Longitude

-74.5214

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