477 Nj-10 Randolph, NJ 07869

College Plaza, a stabilized shopping center in Randolph, NJ, presents a compelling investment opportunity. This two-story, 66,000 square foot property sits on a 7.79-acre lot at 477 NJ-10, boasting 97% occupancy and a strong pro-forma NOI of $1,276,954, yielding a 7.98% cap rate. The asking price is $16,000,000, translating to $242.42 per square foot. Built in 1999, the center comprises two buildings, one 30,000 square feet and the other 36,000 square feet, and includes a solar system. The property is zoned for commercial use and benefits from a triple-net (NNN) lease structure across multiple tenants. Its prime location near Morris County College ensures a strong community presence and regional draw, supported by favorable demographics. The property features a total of 66,000 square feet of retail space. A small portion of the space (2,308 square feet) is currently vacant. This exceptional offering provides a stable income stream with significant upside potential.