Prime Corner Commercial
360 Us Highway 46 E Mountain Lakes Boro Mountain Lakes, NJ 07046
360 Us Highway 46 E Mountain Lakes Boro, Mountain Lakes, NJ, 07046
$849,900
For Sale
$849,900
Commercial property with high visibility and redevelopment potential.
Property Size4,026 SF
Lot Size0.28 Acres
Price / SF$211.10
Days on Market333
Property Features for 360 Us Highway 46 E Mountain Lakes Boro
General Information
- Standard status
- Active
- Size
- 4,026 SF
- Lot size
- 0.28 Acres
- Property subtype
- Commercial
Building Details
- Year Built
- 1972
Listing agency
COLDWELL BANKER REALTY
(973) 263-0400
Listed by
DOUGLAS MCWILLIAMS
Source
Corcoran
Added: Aug 23, 2025 Updated: Jul 6 at 8:59AM Checked: Jul 21 at 5:10AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of COLDWELL BANKER REALTY
Investment Insights
Based on property information with market context.
This commercial property, formerly a Veterinary Hospital, offers approximately 4,026 square feet of space based on the building footprint, excluding the finished walk-out basement. While many systems require updating and repair, the property benefits from a prominent corner location with high visibility. The value is primarily in the land, but the existing commercial building is restorable and can be redeveloped or replaced according to town requirements. The property shares road access with two residential homes located behind it, which are not included in this sale but could be negotiated separately. One is a single-family rental home, and the other is a two-family rental home. A deeded easement provides access to parking for both homes, utilizing the same egress as the commercial property. An easement is also in place across the adjacent property, providing access to Route 46 East. The property is being sold 'AS IS', allowing for a due diligence period.
Key Highlights
- Outstanding location with arguably the best visibility in town.
- Corner lot, suitable for various uses.
- Commercial building is restorable/redevelopable or replaceable within town requirements.
Local Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $87.0k | $21.60 |
| − Vacancy | −$4.9k | −$1.21 |
| EGI | $82.1k | $20.39 |
| − OpEx | −$24.6k | −$6.12 |
| NOI | $57.5k | $14.27 |
4,026 SF · lease $21.60/SF/yr · vacancy 5.60% · expense 30.00%
Alternative Uses
Best Use
Retail
$820.9K
$718.3K – $957.7K
NOI $57,464 @ 7.0% cap · market cap 6.76%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.05M
$919.9K – $1.23M
NOI $73,589 @ 7.0% cap · market cap 8.66%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Storefront properties
FAQs
What type of property is this?
Storefront property - Commercial property with high visibility and redevelopment potential.
Where is this storefront property located?
The property is located at 360 Us Highway 46 E Mountain Lakes Boro Mountain Lakes, NJ.
What is the asking price?
The asking price for this property is $849,900.
What are key features of this property?
This property features: Outstanding location with arguably the best visibility in town.; Corner lot, suitable for various uses.; Commercial building is restorable/redevelopable or replaceable within town requirements.
