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Vernon Valley Plaza (ACME Anchored) - 530 County Road 515, Vernon Township, NJ

Property Details

  • Price :

  • Square Feet :

  • Cap Rate :

  • $19,850,000

  • 93,029

  • 6.75%

  • NOI :

  • Acres :

  • $1,340,111

  • 24.68

  • Property Type :

  • Property Status :

  • Retail

  • Under Agreement

Investment Highlights

  • Vernon Valley Plaza is an ACME anchored shopping center located in Vernon, Sussex County, New Jersey
  • 93,029 SF currently 91% occupied – 63% occupied by credit tenants ACME (NYSE: ACI) occupying 52,687 SF & the United States Post Office occupying 5,239 SF 
  • Captive market – nearest supermarket is over eight (8) miles from the subject property (nearly 20-minute drive)
  • Excellent store sales for ACME - $26.8M for the period 6/20 - 5/21 (4.8% occupancy cost ratio)
  • ACME recently extended their lease showing strong commitment to this location in addition to their ongoing interior renovation
  • Upside:
  • Outparcel available current with an LOI from Starbucks
  • Lease up with two (2) available suites totaling 8,783 SF available
  • Pending 1 Meg rooftop solar lease with brand new roof installation
  • Ideally located at the signalized intersection of County Road 515 (Vernon Road) and Main Street
  • ADT nearly 13,000 cars/day
  • Approximately 2 miles to Mountain Creek ski resort and approximately 7 miles to Crystal Springs 
  • Nearby national retailers include CVS, Lakeland Bank, Taco Bell, Provident Bank, Burger King, Dunkin' Donuts, and Valley Bank
  • Affluent demographics with a 5-mile average household income over $118,000

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