477 Nj-10 Randolph, NJ 07869
- Lifestyle centers
- 66,000 SF
- 7.79 lot acres
Current Use by Public Records
- Lifestyle centers
Property Details for 477 Nj-10
- Year built
- 1999
- Lot size
- 7.79 lot acres
- Property size
- 66,000 SF
- Property type
- Lifestyle centers
- Property subtype
- Power centers
Description
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.
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
- Randolph
- County
- Morris
- State
- New Jersey
- Longitude
- -74.566
- Latitude
- 40.8625
