Mountain Lakes Route 46 retail site heads to online auction with Starbucks lease

Max Spann Real Estate & Auction Co. is offering an approved retail development site at 62 US Highway 46 in Mountain Lakes, New Jersey, with a Starbucks drive-thru lease already in place. The online auction runs Oct. 13-15, giving developers a chance to buy a nearly ready commercial project in affluent Morris County.

Why it matters: - The auction offers a rare chance to buy an approved retail project with a national tenant already lined up. - The site could shorten the path from land purchase to income-producing property for an experienced developer or investor. - The location sits on a busy Route 46 corridor in affluent Morris County, where visibility and traffic can support retail demand.

What happened: - Max Spann Real Estate & Auction Co. announced an online auction for 62 US Highway 46 in Mountain Lakes, Morris County, New Jersey. - The 0.88-acre site is approved for a 1,933-square-foot drive-thru café. - The property is subject to a Starbucks lease, and the winning bidder will be responsible for building the approved Starbucks location. - Online bidding starts Tuesday, Oct. 13 at 9 a.m. and ends Thursday, Oct. 15, 2026 at 11 a.m. - Interested bidders can access due diligence materials and register to bid at the auction website.

The details: - The property has about 317 feet of frontage on Route 46. - Reported traffic counts are about 20,207 vehicles per day. - The surrounding market has a reported median household income of about $250,000. - The approved plan includes 30 parking spaces. - The plan also includes designated EV charging spaces and order-ahead parking. - NJDOT access approval is in place for ingress and egress. - The site is located in Mountain Lakes along one of Morris County’s principal commercial corridors. - The surrounding area includes major employers, hotels, retailers and other businesses. - The offering is positioned as an alternative to buying an already completed net-leased property.

Between the lines: - The deal shifts some early-stage risk away from the buyer because zoning-style approvals and lease terms are already established. - That structure should appeal most to buyers who can manage construction and want a clearer path to stabilized retail income. - The auction format may also create urgency for buyers who want exposure to a Starbucks-backed project in a supply-constrained market.

What's next: - Bidders will review due diligence materials before the October auction. - The winning bidder will need to complete construction in line with lease and development requirements. - Once built and opened, the site is positioned to transition into a retail investment backed by Starbucks under the lease terms.

The bottom line: - This is not a vacant lot story. It is an approved, tenant-backed development play in a high-visibility New Jersey corridor.