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Property profile

1106 Route 46 Parsippany, NJ 07054

OFF-MARKET
Retail properties & Spaces
0.45 ac lot Built 1985
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Property summary

AI-generated overview

This exceptional retail property, located at 1106 Route 46 Unit 3 in Parsippany, NJ, offers 4,000 square feet of versatile space ideally suited for a variety of businesses. Situated on a 0.45-acre lot, this prime location boasts excellent visibility and accessibility on the heavily trafficked US 46 West. The property features ample parking both in front and in the rear, ensuring convenient access for customers and employees. A separate entrance and exit provide ease of movement and enhance the overall functionality of the space. The 4,000 square feet can be subdivided into four individual units, offering flexibility for multiple tenants or the potential to expand a single business over time. The property's strategic location is directly across from a major shopping center, anchored by popular national retailers such as Applebee's, Panera Bread, and Michaels, guaranteeing high foot traffic and significant exposure to a large customer base. This presents a unique opportunity for businesses seeking a high-visibility location with convenient parking and the potential for customization to meet specific needs. The asking price is $5,000. This property is perfect for a hair salon, spa, nail salon, or professional/medical office.

Property profile

Verified
Property type Retail properties & Spaces
Year built 1985
Lot 0.45 ac (19,602 SF)

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Location

1106 Route 46 Parsippany, NJ 07054
Parsippany metro
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Value estimations

Realmo proprietary · 4 methods
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Owner & transaction history

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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