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NNN BP Gas Station(Fitch A+ Credit) 144 State Route 17 428 SF Retail Building Mahwah, NJ 07430 $5,169,938 CAD ($12,079.29 CAD/SF) 6.24% Cap Rate
Investment Highlights
- Corporate-guaranteed NNN ground lease with no landlord responsibilities.
- Improvements include a 428 SF convenience store and 32 dedicated parking spaces.
- Surrounded by national retailers and quick-service operators driving consistent consumer traffic.
- Situated on 0.5 Acres and Zoned B40 Highway Business with Many Permitted Uses
- 5.5 years remaining on base term with four 5-year renewal options.
- Positioned along NJ-17 with exposure to over 103,800 vehicles daily.
Executive Summary
This offering features a BP-branded gas station located along NJ-17 in Mahwah, New Jersey, backed by a corporate-guaranteed NNN ground lease. The tenant, BP Products North America Inc., maintains an investment-grade credit rating with Fitch affirming an A+ long-term outlook. The lease structure provides for zero landlord responsibilities, covering taxes, insurance, utilities, repairs, and maintenance, including the roof and structure.
The property benefits from approximately 5.5 years remaining on the base term, plus four 5-year renewal options, alongside scheduled 10% rent increases every five years. The next increase occurs on 10/01/2026, and the seller will credit the income difference at closing.
Strategically positioned on a high-traffic corridor with visibility to over 103,800 vehicles per day, the 0.5-acre site includes a 428 SF convenience store and 32 on-site parking spaces. This location is surrounded by strong national retailers and quick-service restaurants, including McDonald’s, Starbucks, Burger King, The Home Depot, and TD Bank, driving substantial traffic counts and strong retail synergy.
Mahwah’s affluent demographics and proximity to corporate campuses, major highways, and popular retail destinations create long-term stability for this asset. Investors will find durable income from a leading global energy company, a stable lease structure, and minimal maintenance obligations.
The property benefits from approximately 5.5 years remaining on the base term, plus four 5-year renewal options, alongside scheduled 10% rent increases every five years. The next increase occurs on 10/01/2026, and the seller will credit the income difference at closing.
Strategically positioned on a high-traffic corridor with visibility to over 103,800 vehicles per day, the 0.5-acre site includes a 428 SF convenience store and 32 on-site parking spaces. This location is surrounded by strong national retailers and quick-service restaurants, including McDonald’s, Starbucks, Burger King, The Home Depot, and TD Bank, driving substantial traffic counts and strong retail synergy.
Mahwah’s affluent demographics and proximity to corporate campuses, major highways, and popular retail destinations create long-term stability for this asset. Investors will find durable income from a leading global energy company, a stable lease structure, and minimal maintenance obligations.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Service Station
Building Size
428 SF
Building Class
C
Year Built/Renovated
1989/2019
Price
$5,169,938 CAD
Price Per SF
$12,079.29 CAD
Cap Rate
6.24%
NOI
$322,659 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.01
Lot Size
0.76 AC
Zoning
B-40
Parking
32 Spaces (10 Spaces per 1,000 SF Leased)
Frontage
86’ on RAMAPO VALLEY RD
Amenities
- 24 Hour Access
- Smoke Detector
Fairly walkable
40/100
Exceptionally drivable
100/100
Limited public transit
30/100
Somewhat bikeable
20/100
Nearby Major Retailers
Bank of America
Property Taxes
| Parcel Numbers | Improvements Assessment | $255,640 CAD | |
| Land Assessment | $814,537 CAD | Total Assessment | $1,070,177 CAD |
Property Taxes
Parcel Numbers
Land Assessment
$814,537 CAD
Improvements Assessment
$255,640 CAD
Total Assessment
$1,070,177 CAD
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NNN BP Gas Station(Fitch A+ Credit) | 144 State Route 17
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