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2507 US Highway 22 7,200 SF 72% Leased Retail Building Scotch Plains, NJ 07076 $3,240,000 ($450/SF) 10% Cap Rate
INVESTMENT HIGHLIGHTS
- +/- 40 parking spaces (5/1000)
EXECUTIVE SUMMARY
No competitive cannabis uses will be considered, but complimentary cannabis uses will be considered. Retail Neighbors: Panera, Home Depot, Home Sense, Walmart, Chipotle, Chick Fil A, Starbucks, TJ Maxx, DSW, Dicks, Aldi, Lidl, Ulta, City MD, Kohl’s, & Shop Rite.
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Building Size
7,200 SF
Building Class
C
Year Built
1950
Price
$3,240,000
Price Per SF
$450
Cap Rate
10%
NOI
$324,000
Percent Leased
72%
Tenancy
Multiple
Building Height
2 Stories
Slab To Slab
12’
Building FAR
0.18
Lot Size
0.90 AC
Zoning
B-3 - All classes of cannabis businesses (Class 1, 2, 3, 4, 5 and 6) are authorized primary uses and, as such, no use variance can be expected.
Parking
40 Spaces (5.56 Spaces per 1,000 SF Leased)
Frontage
158’ on Us Highway 22
AMENITIES
- 24 Hour Access
- Freeway Visibility
- Security System
- Signage
- Tenant Controlled HVAC
- Monument Signage
- Air Conditioning
SPACE AVAILABILITY
- SPACE
- SIZE
- SPACE USE
- POSITION
- AVAILABLE
Vacant first floor space that can be used as retail, office or flex.
| Space | Size | Space Use | Position | Available |
| 1st Floor | 2,000 SF | Retail | In-Line | Now |
1st Floor
| Size |
| 2,000 SF |
| Space Use |
| Retail |
| Position |
| In-Line |
| Available |
| Now |
1st Floor
| Size | 2,000 SF |
| Space Use | Retail |
| Position | In-Line |
| Available | Now |
Vacant first floor space that can be used as retail, office or flex.
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 16-04802-0000-00008 | Improvements Assessment | $253,200 |
| Land Assessment | $142,500 | Total Assessment | $395,700 |
PROPERTY TAXES
Parcel Number
16-04802-0000-00008
Land Assessment
$142,500
Improvements Assessment
$253,200
Total Assessment
$395,700
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2507 US Highway 22
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