295 Us-46 Rockaway, NJ 07866
- Lifestyle centers
- 96,470 SF
- 6.78 lot acres
Current Use by Public Records
- Isalis / Gift Shop / Boutique
- Party City / Costume Store / Party Store
- Skunk Funk / Wholesaler / Clothing Store
- Carl's Trading Co / Hat Shop
- Bushka's Kitchen LLC / Outdoor Clothing And Equipment Shop
Property Details for 295 Us-46
- Lot size
- 6.78 lot acres
- Property size
- 96,470 SF
- Property type
- Lifestyle centers
- Property subtype
- Power centers
Description
This exceptional 96,470 square foot shopping center in Rockaway, New Jersey presents a compelling value-add investment opportunity. The property boasts a prime location on Route 46, offering over 400 feet of high-visibility frontage and easy access to major roadways like Routes 80 and 10. Currently at 59% occupancy, the 17-unit, two-story building situated on a 6.78-acre lot presents significant potential for increased cash flow. The HC-2 (Highway Commercial) zoning allows for flexible uses, catering to a variety of retail and commercial tenants. The property's existing anchor tenant, Dollar General, and its proximity to a substantial residential population, ensures a strong customer base. The on-grade access to both floors enhances operational efficiency and tenant appeal. This is an ideal opportunity for investors seeking to capitalize on a prime retail location with significant upside potential in a thriving market. The substantial vacant space (41%) allows for repositioning and lease-up strategies to maximize returns. This property offers a unique blend of established tenancy and significant redevelopment potential in a highly desirable commercial corridor.
Value Estimation
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- Rockaway
- County
- Morris
- State
- New Jersey
- Longitude
- -74.5214
- Latitude
- 40.891
