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    106 Sparta Ave Newton, NJ 07860

    Sponsored
    For Sale
    $3,650,000

    Five-Unit Retail Center, High NOI

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    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.

    Property Features for 106 Sparta Ave

    General Information

    Property type
    Lifestyle centers
    Lot Size
    74,488 SF

    Building Details

    Buildings
    1
    Stories
    1
    Units
    5

    HighLights

    • Ample parking with 60+ spaces in a shared lot.
    • Five (5) unit multi‑tenant building.
    • Strong anchor tenant: QuickChek.
    • Net‑Net‑Net (NNN) lease structure.
    • 1.71‑acre land parcel.
    Property Profile Location Intelligence

    Current Use by Public Records

    Lifestyle centers

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Newton
    County
    Sussex
    State
    New Jersey
    Longitude
    -74.744715260229
    Latitude
    41.047523003981

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    FAQs

    What type of property is this?
    Lifestyle center - Five-Unit Retail Center, High NOI
    Where is this lifestyle center located?
    The property is located at 106 Sparta Ave Newton, NJ.
    What is the asking price?
    The asking price for this property is $3,650,000.
    What are key features of this property?
    This property features: Ample parking with 60+ spaces in a shared lot.; Five (5) unit multi-tenant building.; Strong anchor tenant: QuickChek.
    Request Owner's contact information
    106 Sparta Ave Newton, NJ 07860
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    Newton, NJ 07860
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    106 Sparta Ave Newton, NJ 07860
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