Absolute $1 Auction, 2.88 AC

Land Description

$1 Auction - 2.88 AC NYC MSA | 50K VPD | $135K HH Income.

Investment Highlights

±2.88 AC Land Parcel within Regional Retail Corridor in Affluent Morris County Nj

Visibility to Nj-23 with ±50,749 Vehicles Per Day and Near Intersection of Kiel Ave with an additional 40K Vpd

Neighboring retail include QuickCheck, McDonald's, Dairy Queen, Walgreens, Petco, Marshalls, Cvc, Wawa, Dunkin', and Stop & Shop

Zoned HC, Highway Commercial Allowing for Flexible Commercial Uses

Strong 2022 Demographics with ±75,260 People and an Avg Household Income of ±$135,896 (5-mile radius)

Absolute $1 Auction NO Reserve.

Offering Summary

Marcus & Millichap and RI Marketplace are pleased to present a 2.88-Ac land parcel located adjacent to 1441 State Route 23 (the “Property”) in Butler, New Jersey approximately 30 miles west of New York City. This Property offers an exceptional development opportunity within a regional retail corridor and first bid meets reserve.

The Property consists of a ±2.88-Acre vacant parcel in a robust trade area near a mix of residential and retail demand generators. National retailers in the area include QuickCheck, McDonald's, Dairy Queen, Walgreens, Petco, Marshalls, Cvc, Wawa, Dunkin', and Stop & Shop, and more. The Property is zoned HC, highway commercial which allows for most retail uses which are appropriate to a high-traffic artery including cannabis retail (conditional use).

The Property is strategically positioned in a dense infill trade area along one of the busiest roads in Morris County. The site offers a prime location on Nj-23 and benefits from 50,749 vehicles per day. Butler is a borough in Morris County and located in northern New Jersey which is part of the New York metropolitan area. The region consists of Bergen, Hudson, Passaic, Essex, Morris, and Union counties and contains roughly four million residents. Northern New Jersey has its own economic drivers and is also well connected to New York City's robust economy approximately 30 miles east of the Property. The Property is located in a dense residential area and benefits from compelling demographics. In 2022, the Property had approximately ±75,260 individuals with an average household income of ±$135,896 (5-mile radius).

Auctioneer:

Richard G. Warner

Fisher Auction Company Inc.

License: 0120281