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2507 US Highway 22 7,200 SF 100% Leased Retail Building Scotch Plains, NJ 07076 $4,657,014 CAD ($646.81 CAD/SF) 10% Cap Rate
Investment Highlights
- High-visibility location along NJ Route 22 with strong daily traffic counts.
- Surrounded by major retailers including Walmart, Panera, TJ Maxx, and Starbucks.
- Approximately 0.90-acre site with ample parking for tenants and customers.
- B-3 zoning allows for multiple commercial uses including retail, office, or flex space.
Executive Summary
This flex building presents a versatile opportunity for investors seeking a well-located property along the highly visible and trafficked Route 22 corridor in Scotch Plains, NJ. Positioned on 0.90 acres with B-3 zoning, this 7,200 square foot building is configured to accommodate a mix of retail, office, or specialty flex use. The current layout includes a first-floor cannabis dispensary and second-floor cannabis manufacturing operation, providing a steady income stream and specialized infrastructure.
The property is surrounded by an established retail network including national brands such as Walmart, Panera, Home Depot, and Starbucks, contributing to excellent consumer draw and accessibility. The site offers approximately 40 parking spaces, supporting both customer and staff convenience. With an asking price of $34,000,000 at a 10% CAP, this listing represents a solid income-producing asset with potential long-term stability in a strong commercial corridor.
The property is surrounded by an established retail network including national brands such as Walmart, Panera, Home Depot, and Starbucks, contributing to excellent consumer draw and accessibility. The site offers approximately 40 parking spaces, supporting both customer and staff convenience. With an asking price of $34,000,000 at a 10% CAP, this listing represents a solid income-producing asset with potential long-term stability in a strong commercial corridor.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Freestanding
Building Size
7,200 SF
Building Class
C
Year Built
1950
Price
$4,657,014 CAD
Price Per SF
$646.81 CAD
Cap Rate
10%
NOI
$465,701 CAD
Percent Leased
100%
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
Fairly walkable
40/100
Exceptionally drivable
100/100
Limited public transit
30/100
Fairly bikeable
40/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 16-04802-0000-00008 | Improvements Assessment | $353,087 CAD |
| Land Assessment | $198,716 CAD | Total Assessment | $551,804 CAD |
Property Taxes
Parcel Number
16-04802-0000-00008
Land Assessment
$198,716 CAD
Improvements Assessment
$353,087 CAD
Total Assessment
$551,804 CAD
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2507 US Highway 22
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