Current Use by Public Records
- Retail properties & Spaces
Property Details for 1 Lincoln Hwy
- Year built
- 1973
- Lot size
- 5.36 lot acres
- Property type
- Retail properties & Spaces
- Property subtype
- Office Spaces
Description
This exceptional investment opportunity presents The Shoppes at Colonial Village, a multi-tenant retail and medical office complex ideally situated in Edison, New Jersey. Comprising five buildings totaling 77,096 square feet of net rentable space, this property boasts a strong 91% occupancy rate with 56 diverse tenants, generating a substantial net operating income (NOI) of $1,483,650 and a compelling 6.75% capitalization rate. The asking price is $22,000,000. Built in 1973 and extensively renovated in 2017, the property sits on a 5.36-acre lot at the highly visible intersection of Route 27 (Lincoln Highway) and Parsonage Road, experiencing over 38,000 cars daily. The property features ample parking with 400 spaces and is strategically located less than a mile from major transportation arteries, including the Garden State Parkway and MetroPark, and in close proximity to JFK Medical Center and Menlo Park Mall. The property is zoned GB and offers significant upside potential through lease renewals and rent increases for below-market tenants. The strong demographics, with over 315,000 people within a five-mile radius and an average household income exceeding $162,000 within one mile, further enhance the investment appeal. This well-maintained property presents a rare opportunity to acquire a high-performing asset in a prime location. The three-story buildings offer a variety of spaces suitable for a range of businesses.
Value Estimations
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Location Insight
- Map
- Local Demand
- City
- Edison
- County
- Middlesex
- State
- New Jersey
- Longitude
- -74.3458
- Latitude
- 40.5552
