327 State Route 10 - Freestanding FOR SALE


East Hanover, NJ 07936
$3,375,000 USD
732-837-4862
327 State Route 10, East Hanover, NJ for Sale
$3,375,000 USD
Freestanding - FOR SALE
1/8
null | 5% Cap Rate

327 State Route 10
East Hanover, NJ 07936


OVERVIEW

PRIME ROUTE 10 LOCATION The most affluent section of the Route 10 retail corridor lies in between the signalized intersections of New Murray Road to the west and River Road to the east. The 2024 average 3 mile radius HH income is $245,000.00. This property lies within this section, close to the River Road intersection. It is surrounded by notable retailers, such as Dick’s Sporting Goods and Marshalls, as well as top automotive dealerships, such as Porsche and Volvo. FREE-STANDING BUILDING This building is one of only two free-standing, single-tenant, non-restaurant buildings within the 3,000 to 5,000 SF range along the entire 5.6-mile Route 10 retail corridor. Its size allows for flexible use across multiple retail categories, thereby maximizing annual rental potential. LONG ESTABLISHED TENANCY Vitamin Shoppe has been a tenant here since 1999 (26 years). TRUE NNN INCOME In 1999, Vitamin Shoppe leased a building at this property. In 2000, Vitamin Shoppe demolished the building at its own initiative and expense and constructed a new building to its own specifications. Since then, it has been fully responsible for all maintenance and repair, including roof and structural, for all property taxes and for the landlord’s insurance. This is a truly 100% net investment. RISING RENT RATES Rental rates for freestanding buildings along Route 10 and other major New Jersey highways are climbing, fueled by limited availability and increasing demand from fast growing sectors like medical, fitness, and restaurant businesses. In this prime location, rates now frequently reach $70 per square foot for smaller properties. EXPANSION OPPORTUNITY See the attached floor plan. This property offers an approximate 4,000/sf expansion opportunity. This expansion can be built without the need for a bulk variance, requiring only site plan approval.

FOR SALE DETAILS

PRICE

$3,375,000 USD

PRICE/SF

$1,089 USD /SF

CAP RATE

5%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Vitamin Shoppe

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1969

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.57 AC

LAND SF

24,829 SF

ZONING

B-2,East Hanover Twp

APN/PARCEL ID

10-00100-0000-00009-01

ASK ABOUT THIS PROPERTY

William LenazBennett Realty & DevelopmentMore Info
732-837-4862

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William LenazBennett Realty & DevelopmentMore Info
732-837-4862

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.