424 Main St. Rte Rockaway, NJ 07834
- Retail properties
- 16,700 SF
- 1.40 lot acres
Current Use by Public Records
- Retail properties
Property Details for 424 Main St. Rte
- Year built
- 1975
- Lot size
- 1.40 lot acres
- Property size
- 16,700 SF
- Property type
- Retail properties
- Property subtype
- Office Properties & Spaces
Description
This exceptional mixed-use property, located at 424 W Main St. (Route 46) in Denville, NJ, presents a lucrative investment opportunity. The 16,700 square foot building sits on a 1.4-acre lot comprised of two parcels (1.1 acres and 0.3 acres) and boasts six units currently occupied by a mix of short and long-term tenants, generating immediate income. The property is zoned for Retail/Office use, allowing for diverse development possibilities. Built in 1975, the building offers a blend of creative office, executive office, and storefront spaces, catering to a variety of businesses. The asking price is $1,990,000, translating to $119.16 per square foot. Existing tenants include retail, office, and auto repair businesses, providing a stable income stream while development plans are pursued. The short-term leases offer flexibility for future redevelopment, allowing for continued rent collection during the approval process. This prime location in Morris County, NJ (zip code 07834) offers excellent visibility and accessibility along Route 46 in Rockaway. This property is ideal for investors seeking a strong return on investment with immediate cash flow and significant upside potential.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Rockaway
- County
- Morris
- State
- New Jersey
- Longitude
- -74.4964
- Latitude
- 40.8977
