Rockaway Plaza
Value Add opportunity. Below Market rents ans NNN's. Low Price/SF entry to Ownership
Marketing description
Rockaway Plaza is a high-visibility highway retail center that affords a new owner the opportunity to reposition this property to re-tenant the center with larger tenants that can add to the center’s neighborhood appeal. A true value-add opportunity in the near and long term. Situated on approximately 6.43 acres with over 320 feet of frontage along US Route 46, the property offers excellent exposure to regional traffic with strong branding opportunities for retail tenants. The multi-tenant center consists of abundant surface parking and a diverse mix of long-term regional and national tenants, creating a steady customer draw.
Originally constructed in the mid-20th century, Rockaway Plaza features flexible retail spaces with immediate availability, making it suitable for a range of retail, service, and consumer-facing uses. It is strategically located on major commuter routes and surrounded by dense residential neighborhoods, which enhances accessibility and supports consistent foot traffic.
Investment highlights
- High Visibility: Prominent frontage along US-46 provides exceptional daily exposure to steady commuter and retail traffic.
- Value-Add Opportunity: Opportunity for a new Owner to develop 16,000 + SF of space, currently subdivided and leased to month to month tenants. As well as a 10,000 SF box to be leased.
- Easily Accessible: Convenient access from US-46 with proximity to I-80 and Route 10 ensures smooth customer flow and strong connectivity.
- Strong Retail Trade Area: Surrounded by major national retailers and dense residential communities, the plaza benefits from a high-performing trade area.
- Strong Traffic Counts: The site benefits from high daily vehicle volumes of 20,000 along US-46, driving consistent exposure and customer flow.
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