rockaway plaza - loopnet · retro fitness available 11,438 sf 10,000 sf 7,892 sf 2,843 sf 850 sf...

ROCKAWAY PLAZA295 ROUTE 46, ROCKAWAY NEW JERSEY

OFFERING MEMORANDUM

TABLE OF CONTENTS

EXECUTIVE SUMMARY

PROPERTY ANALYSIS

MARKET OVERVIEWC

A

B

2 | OFFERING MEMORANDUM


The Goldstein Group is pleased to present for sale

Rockaway Plaza, a 102,254 SF highway retail center

located in Rockaway, NJ. Rockaway Plaza sits on 6.78

acres of land and has ample visibility and parking with over

320’ of frontage along Rt 46. The property is currently

82.23% occupied with a strong mix of both regional and

national tenants.

ANCHOR TENANTS:

PROPERTY OVERVIEW ROCKAWAY PLAZA295 ROUTE 46, ROCKAWAY NEW JERSEY


OFFERING SUMMARYPRICING

NET OPERATING INCOME

CAP RATE

TENANTS

PROPERTY SPECIFICATIONS

TOTAL AREA

LAND AREA

OCCUPANCY

PARKING SPACES

YEAR BUILT/RENOVATED

OWNERSHIP

EXPENSES

RE TAXES

CAM

INSURANCE

REIMBURSED

RE TAXES

CAM

INSURANCE

$15,710,438

$903,350.19

5.75%

Dollar General, Maaco, Aaron’s

Rental, AT&T, Retro Fitness,

Bright Horizons

102,254 SF

6.78 Acres

82.23%

177

1945/2008

Fee Simple (Land & Building)

$136,787.20

$182,338.00

$27,033.04

$75,752.75

$98,966.78

$14,970.90


No.

1

2

3

4A

4B

5A

5B

4C

5C

5D

6

7

8

9

10

11

12

TENANT

Ramm Auto, Inc.

Available

Aaron’s

Elite Martial Arts

Available

A&D Wireless Corp.

Available

Available

Available

B Natural Piano

Dance Connection

Dollar General

Carpet One

B Natural Piano

Timeless Fitness

Available (Storage)

Bright Horizons

LEASE STARTS

9/1/2007

–

5/1/2010

5/1/2013

–

7/1/2014

–

–

–

10/10/2014

1/1/2010

9/11/2009

9/1/2013

7/1/2018

11/1/2015

–

5/1/2008

LEASE EXPIRES

8/31/2030

–

4/30/2020

2/28/2023

–

6/30/2021

–

–

–

10/31/2015

6/30/2019

10/31/2021

8/31/2018

6/30/2025

10/31/2027

–

12/31/2026

LEASE OPTION

TERM

2 x 5

–

2 x 5

1 x 5

–

2 x 5

–

–

–

1 x 1

N/A

1 x 5

1 x 5

7

3 x 5

–

N/A

MONTHLY FIXEDRENT

$8101.92

–

$7,948.00

$4,036.40

–

$2,860.00

–

–

–

$1,000.00

$4,348.34

$9,500.00

$7,641.00

$4,725.00

$16,291.67

–

$21,865.81

ANNUALRENT

$97,223

–

$95,376

$48,437

–

$34,320

–

–

–

$12,000

$52,180

$114,000

$91,692

$56,700

$195,500

–

$262,390

SF

11,438

10,000

7,892

2,843

850

1,760

1,300

2,200

250

900

3,800

10,000

4,826

2,700

17,000

3,500

20,995

PSF

$8.50

–

$12.09

$17.04

–

$19.50

–

–

–

$13.33

$13.73

$11.40

$19.00

$21.00

$11.50

–

$12.50

TOTAL 102,254 $1,059,818

CURRENT RENT ROLL (82.23% OCCUPANCY)


No.

1

2

3

4A

4B

5A

5B

4C

5C

5D

6

7

8

9

10

11

12

TENANT

Ramm Auto, Inc.

Available

Aaron’s

Elite Martial Arts

Available

A&D Wireless Corp.

Available

Available

Available

B Natural Piano

Dance Connection

Dollar General

Carpet One

B Natural Piano

Timeless Fitness

Available (Storage)

Bright Horizons

LEASE STARTS

9/1/2007

–

5/1/2010

5/1/2013

–

7/1/2014

–

–

–

10/10/2014

1/1/2010

9/11/2009

9/1/2013

7/1/2018

11/1/2015

–

5/1/2008

LEASE EXPIRES

8/31/2030

–

4/30/2020

2/28/2023

–

6/30/2021

–

–

–

10/31/2015

6/30/2019

10/31/2021

8/31/2018

6/30/2025

10/31/2027

–

12/31/2026

LEASE OPTION

TERM

2 x 5

–

2 x 5

1 x 5

–

2 x 5

–

–

–

1 x 1

N/A

1 x 5

1 x 5

7

3 x 5

–

N/A

MONTHLY FIXEDRENT

$8101.92

–

$7,948.00

$4,036.40

–

$2,860.00

–

–

–

$1,000.00

$4,348.34

$9,500.00

$7,641.00

$4,725.00

$16,291.67

–

$21,865.81

ANNUALRENT

$97,223

$120,000

$95,376

$48,437

$8,500.00

$34,320

$13,000.00

$22,000.00

$2,500.00

$12,000

$52,180

$114,000

$91,692

$56,700

$195,500

$35,000.00

$262,390

SF

11,438

10,000

7,892

2,843

850

1,760

1,300

2,200

250

900

3,800

10,000

4,826

2,700

17,000

3,500

20,995

PSF

$8.50

$12.00

$12.09

$17.04

$10.00

$19.50

$10.00

$10.00

$10.00

$13.73

$11.40

$19.00

$21.00

$11.50

–

$10.00

TOTAL 102,254 $1,260,818

PROFORMA


TENANT

TOTAL

SUITE AREA

1

2

3

4A

4B

4C

5D

6

5C

5A

5B

7

8

9

12

10

11

1

2

3

4

5

6

7

8

9

10

11

12

13

14

15

16

17

Ramm Auto, Inc.

AVAILABLE

Aaron’s

Elite Martial Arts Academy

AVAILABLE

AVAILABLE

B Natural Piano (Storage)

The Dance Connection

AVAILABLE

A&D Wireless Corp.

AVAILABLE

Dollar General

Carpet One

B Natural Piano School

Bright Horizons

Retro Fitness

AVAILABLE

11,438 SF

10,000 SF

7,892 SF

2,843 SF

850 SF

2,200 SF

900 SF

3,800 SF

250 SF

1,760 SF

1,300 SF

10,000 SF

4,826 SF

2,700 SF

20,995 SF

17,000 SF

3,500 SF

102,254 SF

1st FLOORTENANT LINE-UP

2nd FLOOR

TENANT LINE-UP


Located at the heart of the route 46 Rockaway market, Rockaway

Plazas trade area continues to experience steady growth with recent

new developments. Route 46 is a heavily trafficked commuter road

with over 30,000 vehicles per day.

±30,000 DAILY CAR COUNT

EXCELLENT HIGHWAY EXPOSURE

LOCATED IN THE HEART OF THE RT 46 ROCKAWAY MARKET

SITUATED 40 MILES FROM NYC


DEMOGRAPHICS

AVERAGE HH INCOME

$118,324+1 MILE RADIUS

DAYTIME POPULATION

42,471+3 MILE RADIUS

DAYTIME POPULATION

AVERAGE HH INCOME

1 MILE 3 MILES 5 MILES

1 MILE 3 MILES 5 MILES

7,348

$118,324

42,471

$124,499

84,086

$140,659


Morris County is a county located in the U.S. state of New Jersey, about

25 mi (40 km) west of New York City As of the 2017 Census estimate,

the county’s population was 499,693, making it the state’s 10th-most

populous county, and marking a 1.5% increase from 2010. The county

is part of the New York Metropolitan Area, and its county seat is Mor-

ristown.The most populous place was Parsippany-Troy Hills Township,

with 53,238 residents at the time of the 2010 Census, while Rockaway

Township covered 45.55 square miles (118.0 km2), the largest total

area of any municipality.

In 2015, the county had a per capita personal income of $86,582, the

highest in New Jersey and ranked 24th of 3,113 counties in the United

States. Morris County, as of the 2000 Census, was the sixth-wealthiest

county in the United States by median household income at $77,340

(second in New Jersey behind Hunterdon County at $79,888), sixth in

median family income at $89,773 (third in New Jersey behind Hunter-

don County at $91,050 and Somerset County at $90,605) and ranked

tenth by per capita income at $36,964 (second in New Jersey behind

Somerset County at $37,970). The Bureau of Economic Analysis ranked

the county as having the 16th-highest per capita income of all 3,113

counties in the United States (and the second highest in New Jersey) as

of 2009. The county ranked third in the New York Metropolitan area in

terms of median income.

ABOUT THE AREA

MORRIS COUNTY


EXCLUSIVE BROKERSPlease contact any of the below brokers for answers to any questions or to learn more about the property.

C.J. HUTER(201) 703-9700 [email protected]

http://www.thegoldsteingroup.com

45 Eisenhower Drive, Paramus, NJ

LEW FINKELSTEIN(201) 703-9700 [email protected]

CHRISTIAN MAROLAKOS(201) 703-9700 [email protected]

rockaway plaza - loopnet · retro fitness available 11,438 sf 10,000 sf 7,892 sf 2,843 sf 850 sf...

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