Value-Add Mixed-Use Asset in Morris County | 126 Route 10
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Value-Add Mixed-Use Asset in Morris County 126 Route 10
5,820 SF 50% Leased Retail Building Online Auction Sale Succasunna, NJ 07876
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Investment Highlights
- Highly visible 5,820 SF two-story mixed-use retail and office building on Route 10 West seeing over 31,000 vehicles per day.
- Immediate opportunity to add value and boost NOI through lease up or occupancy of the second-floor space.
- Morris County location with convenient access to Interstate 80 and Routes 46 and 206.
- Ground level fully leased to Arthur Murray Dance School (world's largest ballroom dance company - 270 studios in 22 countries).
- Second Floor (currently vacant) features 7 separate built out office suites.
- Exceptional opportunity for a user or investor to acquire a highly-visible asset along Route 10.
Executive Summary
126 Route 10 is a freestanding, two-story retail and office building that spans 5,820 square feet on a 0.51-acre lot in the upscale Roxbury Township. Positioned directly on Route 10, this high-visibility property benefits from exposure to over 31,000 vehicles daily, making it ideal for businesses seeking high traffic. The property enjoys seamless connectivity, with direct access off Route 10 and close to major highways, including Highway 46 and Interstate 80, making it convenient for clients, employees, and customers. The surrounding area hosts an array of major retailers like Kohl’s, The Home Depot, Walmart Supercenter, and Bank of America, drawing substantial daily traffic. Nearby parks, local businesses, and top-rated public schools enhance the location’s appeal, creating a vibrant, community-oriented environment supporting retail and professional tenants.
Located within Morris County, one of the wealthiest counties in the US, the area boasts a robust population of over 110,000 with an annual median household income of over $100,000 within a 5-mile radius. The property is part of the sought-after Western Morris office submarket, which maintains a low vacancy rate and rising rental rates year over year. Positioned for success, 126 Route 10, a multi-tenant asset, presents a rare chance to secure a high-quality, high-exposure asset in a prime, affluent location with robust growth potential.
Located within Morris County, one of the wealthiest counties in the US, the area boasts a robust population of over 110,000 with an annual median household income of over $100,000 within a 5-mile radius. The property is part of the sought-after Western Morris office submarket, which maintains a low vacancy rate and rising rental rates year over year. Positioned for success, 126 Route 10, a multi-tenant asset, presents a rare chance to secure a high-quality, high-exposure asset in a prime, affluent location with robust growth potential.
Offering Memorandum Click Here to Access
Data Room Click Here to Access
- Offering Memorandum
- Operating and Financials
- Purchase Agreement
- Title and Insurance
- Miscellaneous
Market Analytics Click Here to Access
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Market Sale Price per SF
Northern New Jersey - NJ USA
Market Cap Rate
Northern New Jersey - NJ USA
Market Sale Price per SF by Star Rating
1 - 2 Star
3 Star
4 - 5 Star
Market Cap Rate by Star Rating
1 - 2 Star
3 Star
4 - 5 Star
Market Sale Price per SF Distribution
Market Cap Rate Distribution
Property Facts
Sale Type
Investment
Sale Condition
Auction Sale
Property Type
Building Size
5,820 SF
Building Class
B
Year Built
1987
Percent Leased
50%
Tenancy
Multiple
Building Height
2 Stories
Building FAR
0.26
Land Acres
0.51 AC
Zoning
B-2 - https://ecode360.com/34589700#34591081
Parking
26 Spaces (4.47 Spaces per 1,000 SF Leased)
About Western Morris
Western Morris County is a wealthy suburban enclave, surrounded by an abundance of parks and green space. Commercial corridors are spread throughout residential areas, and reliance on cars is heavy. The area is served by Route 80 and US-46.
This area has a thriving retail landscape that caters to the local population. As a result, many retail sites offer ample parking. Retailers are also attracted to Western Morris County's above-average incomes and spending power.
DEMOGRAPHICS
Demographics
1 Mile
3 Mile
5 Mile
2024 Population
4,938
32,476
110,424
2020 Population
5,202
32,937
109,536
2029 Population
4,882
32,359
110,587
2024-2029 Projected Population Growth
-1.1%
-0.4%
0.2%
Daytime Employees
5,489
13,653
39,442
Total Businesses
621
1,734
4,840
Average Household Income
$136,122
$151,177
$133,767
Median Household Income
$98,814
$126,068
$103,190
Total Consumer Spending
$74.2M
$512M
$1.6B
Median Age
45.7
44.4
42.1
2024 Households
1,855
11,926
40,581
Percent College Degree or Above
27%
29%
24%
Average Home Value
$449,653
$474,452
$457,767
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | 36-03701-0000-00017 | Improvements Assessment | $576,000 |
| Land Assessment | $264,300 | Total Assessment | $840,300 |
PROPERTY TAXES
Parcel Number
36-03701-0000-00017
Land Assessment
$264,300
Improvements Assessment
$576,000
Total Assessment
$840,300
Sale Advisors
Sale Advisors
Andrew Schwartz, Managing Director
(973) 292-4624
Contact
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.
Daniel Bottiglieri, Associate - Capital Markets
(973) 993-1200
Contact
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.
Andre Balthazard, Sr. Associate
(732) 360-6249
Contact
André Balthazard is an Associate on the Metropolitan Area Capital Markets team based out of Morristown, New Jersey. 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.
Jordan Sobel, Director
(973) 292-4633
Contact
Jordan N. Sobel is a 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 $30 million range in the suburban New York Metropolitan area. 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 of current and potential acquisitions.
About the Auction Platform
Ten-X Commercial is the leading end-to-end digital transaction platform for commercial real estate. With over $26bn sold, Ten-X’s platform empowers brokers, sellers and buyers with data-driven technology and comprehensive marketing tools to expand market visibility and decrease time to close. Ten-X consistently yields trade rates at two times the industry average. Ten-X expedites the entire CRE transaction timeline by enabling brokers and sellers to tap into a digital platform that makes it easy to onboard properties, evaluate the success of complimentary omnichannel marketing campaigns and follow up on the strongest pre-qualified leads. Buyers are precision-matched with properties aligned with their investment goals, with unprecedented access to market analysis and due diligence documents to help them securely acquire properties online, with confidence.
Read More
Auction Contact
Sophy Cardenas
Contact
Auctioneer License:
Ten-X Commercial, LLC Arlene Richardson RE Brkr 2187404
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Andrew Schwartz -
Daniel Bottiglieri -
Andre Balthazard -
Jordan Sobel -
Cushman & Wakefield
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Transaction Fee Schedule
Based on Percentage of Winning Bid Amount.
Winning Bid Amount
Transaction Fee
$0m to < $1m
5.00% ($20,000 min)
$1m to < $3m
3.00%
$3m to < $5m
2.50%
$5m to < $10m
2.25%
$10m to < $15m
2.00%
$15m to < $25m
1.75%
$25m to < $35m
1.50%
$35M to < $45M
1.00%
$45M to < $55M
0.75%
$55M and Up
0.50%
Example Calculation
Winning Bid Amount
$4,000,000
Transaction Fee
$100,000 (2.5%)
Total Purchase Price
$4,100,000
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Value-Add Mixed-Use Asset in Morris County | 126 Route 10
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