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Value-Add Vacant Retail w/ Main St Frontage 262 Main St 8,897 SF Vacant Retail Building Online Auction Sale Madison, NJ 07940
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Investment Highlights
- Rare opportunity to acquire an 8,897 SF former veterinary hospital in Madison, vacant and positioned for owner-user or value-add investment.
- Less than 1 mile from Madison’s NJ Transit station, with convenient access to Highway 24, I-78, and I-287 for regional connectivity.
- Main Street frontage with visibility to more than 21,800 vehicles daily, offering robust brand exposure and cross-traffic opportunities.
- Affluent 3-mile trade area combines 63,600+ residents, $197,000+ average household incomes, and over $1 billion in spending.
- Within 10-15 minutes of regional demand drivers, including Fairleigh Dickinson University, Overlook Medical Center, and The Mall at Short Hills.
- Within a competitive retail submarket with 4.1% vacancies, no new inventory under construction, and rent growth of 3.6% year-over-year.
Executive Summary
262 Main Street presents a rare opportunity to acquire an 8,897-square-foot former veterinary and animal hospital in Madison, New Jersey, offering existing animal care infrastructure, flexible business district zoning, and immediate occupancy potential for owner-users or investors. The vacant, two-story building sits on a 0.39-acre parcel with on-site parking for 16 vehicles, creating flexibility for a variety of medical, service, or commercial uses. For veterinary operators, the property provides an established animal care facility that can reduce the time and capital required to launch operations. For investors, the vacant status creates an opportunity to reposition, lease, and stabilize the asset in a market characterized by limited availability and steady rent growth.
The property offers convenient accessibility, located less than a mile from Madison’s NJ Transit commuter rail station and within minutes of State Highway 24 and Interstates 78 and 287. These transportation connections provide efficient regional access throughout Northern New Jersey and the New York metropolitan area for employees, customers, and visitors. Main Street frontage, with traffic counts exceeding 21,800 vehicles per day, provides strong exposure within one of the area's most established commercial corridors. Nearby national retailers include Whole Foods, Walgreens, Starbucks, Dunkin’, Chipotle, Five Guys, UPS, and others, generating valuable cross-traffic opportunities. Within 10 to 15 minutes of the property, regional demand drivers such as Fairleigh Dickinson University, The Mall at Short Hills, and Atlantic Health Overlook Medical Center deliver additional steady consumer traffic.
Within 3 miles of 262 Main Street, a growing population of more than 63,600 generates over $1 billion in annual consumer spending, supported by average household incomes exceeding $197,000. More than $25 million is spent annually on pet and hobby-related categories, reinforcing demand for veterinary, animal care, and related service businesses. At the same time, the surrounding retail market remains constrained, with vacancy at just 4.1%, no new inventory currently under construction, and rents increasing 3.6% over the past year after sustained annual growth averaging 3% during the previous five years. Supported by these compelling fundaments, 262 Main Street offers a clear path for owner-users seeking a move-in-ready facility or investors pursuing lease-up and value-add potential in an affluent Northern New Jersey market.
Property tours are by appointment only. Please contact the listing broker to schedule.
The property offers convenient accessibility, located less than a mile from Madison’s NJ Transit commuter rail station and within minutes of State Highway 24 and Interstates 78 and 287. These transportation connections provide efficient regional access throughout Northern New Jersey and the New York metropolitan area for employees, customers, and visitors. Main Street frontage, with traffic counts exceeding 21,800 vehicles per day, provides strong exposure within one of the area's most established commercial corridors. Nearby national retailers include Whole Foods, Walgreens, Starbucks, Dunkin’, Chipotle, Five Guys, UPS, and others, generating valuable cross-traffic opportunities. Within 10 to 15 minutes of the property, regional demand drivers such as Fairleigh Dickinson University, The Mall at Short Hills, and Atlantic Health Overlook Medical Center deliver additional steady consumer traffic.
Within 3 miles of 262 Main Street, a growing population of more than 63,600 generates over $1 billion in annual consumer spending, supported by average household incomes exceeding $197,000. More than $25 million is spent annually on pet and hobby-related categories, reinforcing demand for veterinary, animal care, and related service businesses. At the same time, the surrounding retail market remains constrained, with vacancy at just 4.1%, no new inventory currently under construction, and rents increasing 3.6% over the past year after sustained annual growth averaging 3% during the previous five years. Supported by these compelling fundaments, 262 Main Street offers a clear path for owner-users seeking a move-in-ready facility or investors pursuing lease-up and value-add potential in an affluent Northern New Jersey market.
Property tours are by appointment only. Please contact the listing broker to schedule.
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Property Facts
Sale Type
Investment
Sale Condition
Auction Sale
Type of Ownership
Fee Simple
Property Type
Retail
Property Subtype
Veterinarian/Kennel
Building Size
8,897 SF
Building Class
B
Year Built
1926
Tenancy
Single
Building Height
2 Stories
Building FAR
0.52
Lot Size
0.39 AC
Parcel Number
17-02206-0000-00007
Zoning
4A - Business District
Parking
16 Spaces (1.79 Spaces per 1,000 SF Leased)
Frontage
Amenities
- Monument Signage
Fairly walkable
50/100
Exceptionally drivable
100/100
Some public transit
40/100
Fairly bikeable
40/100
Demographics
Demographics
1 mile
3 mile
5 mile
2025 Population
12,023
63,665
160,455
2020 Population
11,936
59,654
147,365
2030 Population
12,268
65,964
167,672
2025-2030 Projected Population Growth
2.0%
3.6%
4.5%
Daytime Employees
5,529
45,231
132,796
Total Businesses
840
4,526
13,872
Average Household Income
$203,922
$197,732
$199,383
Median Household Income
$196,486
$186,375
$187,288
Total Consumer Spending
$198.1M
$1B
$2.6B
Median Age
42.6
41.0
42.6
2025 Households
4,270
22,259
57,334
Percent College Degree or Above
35%
34%
32%
Average Home Value
$889,942
$856,288
$843,293
Nearby Major Retailers
Sale Advisors
Sale Advisors
Jordan Sobel, Director
Jordan is located in Cushman & Wakefield’s Morristown, New Jersey office and specializes in middle markets transactions in the $2 million to $50 million range in the suburban New York Metropolitan area.
Since joining the Private Client Group, Jordan has been involved in more than $1 billion of property sales comprising over 4 million square feet. Jordan’s tenacity and work ethic has consistently delivered superior results for his clients.
Prior to joining the Capital Markets Group, Jordan was a Land Acquisition Analyst at K. Hovnanian Homes. There he assisted the Acquisition team with the evaluation on current and potential acquisitions.
Since joining the Private Client Group, Jordan has been involved in more than $1 billion of property sales comprising over 4 million square feet. Jordan’s tenacity and work ethic has consistently delivered superior results for his clients.
Prior to joining the Capital Markets Group, Jordan was a Land Acquisition Analyst at K. Hovnanian Homes. There he assisted the Acquisition team with the evaluation on current and potential acquisitions.
Andrew Schwartz, Managing Director
Andrew J. Schwartz is a Senior Director in the Metropolitan Area Capital Markets Group. He is located in Cushman & Wakefield’s Morristown, New Jersey office and specializes in middle markets transactions in the $2 million to $20 million range in the suburban New York Metropolitan area.
Since joining the Capital Markets Group, Andrew has been involved in more than $500 million of property sales comprising over 5.7 million square feet. Prior to that, he worked on Wall Street for 20 years serving institutional clients at Abel Noser and Morgan Stanley. Previous to that, he was with Cushman & Wakefield as an office and industrial leasing broker.
Since joining the Capital Markets Group, Andrew has been involved in more than $500 million of property sales comprising over 5.7 million square feet. Prior to that, he worked on Wall Street for 20 years serving institutional clients at Abel Noser and Morgan Stanley. Previous to that, he was with Cushman & Wakefield as an office and industrial leasing broker.
Andre Balthazard, Sr. Associate
Andres’s team specializes in middle-market transactions in the Northern New Jersey and Suburban New York markets. Prior to joining the Capital Markets team, André interned with Cushman & Wakefield in the Sacramento, California, office, where he worked with teams that represented office and industrial tenants and landlords.
Daniel Bottiglieri, Senior Associate - Capital Markets
Daniel J. Bottiglieri is an Associate in the Metropolitan Area Capital Markets Group. He is located in Cushman & Wakefield’s Morristown, New Jersey office and specializes in middle market dispositions ranging from $2 million to $30 million with a specific focus on retail sales.
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Auction Contact
Taylor Cunningham
Contact
Auctioneer License:
Ten-X Commercial, LLC Arlene Richardson RE Brkr 2187404
Contacts
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Jordan Sobel -
Andrew Schwartz -
Andre Balthazard -
Daniel Bottiglieri -
Cushman & Wakefield
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Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
3% Transaction Fee
Based on Winning Bid Amount
Minimum Transaction Fee
$20,000
Maximum Transaction Fee
$300,000
Example Calculation
Winning Bid Amount
$5,000,000
Transaction Fee
$150,000 (3%)
Total Purchase Price
$5,150,000
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Value-Add Vacant Retail w/ Main St Frontage | 262 Main St
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