Approved Retail Site on Route 46 in Mountain Lakes, NJ for Auction
Approved Retail Site on Route 46 in Mountain Lakes, NJ for Auction
Investment Opportunity Features Starbucks Drive-Thru Lease, Development Approvals and Prime Highway Frontage in Affluent Morris County Market
Max Spann Real Estate & Auction Co. announces the upcoming online auction of a highly visible commercial development site at 62 US Highway 46 in Mountain Lakes, Morris County, New Jersey, offering investors and developers the opportunity to acquire an approved retail project with a Starbucks drive-thru lease already in place.
The 0.88± acre property is strategically positioned along the heavily traveled Route 46 commercial corridor and has received approvals for development of a 1,933± square-foot drive-thru café. The offering is particularly attractive for investors and builders seeking a project where much of the groundwork for a national retail development has already been established. The successful purchaser will acquire the property subject to the Starbucks lease and will be responsible for constructing the approved Starbucks location in accordance with the applicable lease and development requirements.
“This is an opportunity that combines the benefits of development with the potential long-term value of a nationally recognized tenant,” said Max Spann Jr., President of Max Spann Real Estate & Auction Co. “For a builder, developer, or investor capable of executing the construction, much of the difficult upfront work has already been advanced. You have a desirable Morris County location, development approvals, and a Starbucks lease in place.”
The property features approximately 317 feet of frontage along Route 46, providing substantial highway visibility and branding exposure. Traffic counts are reported at approximately 20,207 vehicles per day, while the surrounding market boasts a reported median household income of approximately $250,000.
The approved development includes 30 parking spaces, incorporating designated EV charging and order-ahead parking. NJDOT access approval is also in place, providing for ingress and egress to the property. Located in affluent Mountain Lakes, the property benefits from its position along one of Morris County's principal commercial corridors. The Route 46 location provides convenient regional connectivity and places the site within an established commercial area surrounded by major employers, hotels, retailers, and other businesses.
For investors, the offering presents an alternative to purchasing an already-completed net-leased property. The successful purchaser has the opportunity to complete the approved development and transition the property into an income-producing retail investment backed by an existing Starbucks lease, subject to the terms and requirements contained in the lease and auction documents.
“This is not simply a vacant parcel of commercial land,” Spann added. “The approvals and lease create a defined development path. We believe that will appeal to experienced developers, contractors, and investors who understand the value that can be created by taking a project through construction and into operation.”
Auction Information
Property Address: 62 US Highway 46, Mountain Lakes, Morris County, NJ 07046
Online Bidding Starts: Tuesday, October 13 at 9:00 a.m.
Online Bidding Ends: Thursday, October 15, 2026 at 11:00 a.m.
Interested bidders can access due diligence materials and register to bid online at www.maxspann.com.
Press Release as it appears on EIN Presswire: https://www.einpresswire.com/article/941604951/approved-retail-site-on-route-46-in-mountain-lakes-nj-for-auction
