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34288726
34288725

145 Route 10, East Hanover, NJ 07936 For Sale

SP
NJ, NJ 1223377
Ripco Real Estate
NB
NY, CT079830 (+1)
RIPCO Real Estate
Listed by Ripco Real Estate, RIPCO Real Estate
$14,250,000
7 days on market
Updated 7 days ago

145 Route 10

Details
APN 99/9
Property Type Retail
Sub Type Shopping Center
Square Footage 70,549
NOI $1,119,147
Occupancy 100%
Tenancy Multi
Year Built 1995
Acreage 15.274
Zoning HD/OCI
Parking Spaces 818 spaces
Parking per 1,000 SqFt 11.59

Retail | 70,549 SqFt

Marketing description

RIPCO Investment Sales is pleased to offer for sale 145 Route 10, East Hanover NJ. 145 Route 10 is home to AMC Movie theatre, a 12 plex featuring reclining seats; Chuck E. Cheese- a popular family-friendly entertainment center; and GolfTec- a golf instruction and Club fitting center.

Route 10 in East Hanover is a vibrant and highly trafficked major retail corridor in Morris County, New Jersey, known for a diverse concentration of national brand retailers, shopping centers, and dining options. It is a central, one-stop destination for a wide range of shopping needs, from daily essentials to home goods and sporting equipment. Over 35,000 cars per day, the corridor sees significant average daily traffic, making it a prime location for businesses. The surrounding area is an affluent suburb, contributing to a strong customer base for the businesses along the route. The corridor features a mix of large anchor stores, smaller strip malls, and various dining establishments. There are ongoing redevelopment efforts along the corridor, including 145 Route 10's neighbor, the former Novartis property, which is undergoing a significant transformation, with different sections of the large campus being redeveloped into two distinct projects: a modern industrial/logistics hub, called High Point on 10 and an innovation/life sciences campus, called the Arena Campus.

Investment highlights

  • Strong national & successful local tenants
  • 100% occupied, stable cash flow
  • Strategic location
  • Desirable demographics

Listing Contacts

SP
NJ, NJ 1223377
Ripco Real Estate
NB
NY, CT079830 (+1)
RIPCO Real Estate
Listed by Ripco Real Estate, RIPCO Real Estate

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Loan Amount
$0.00
Annual Debt Service
$--
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Annual Cash Flow
$1,119,147.00
$93,262.25/mo

Valuation Metrics

0
DSCR
7.85%
Cap Rate
7.85%
ROI

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