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Walgreens 1801 N Olden Ave 14,680 SF Retail Building Ewing, NJ 08638 $9,060,498 CAD ($617.20 CAD/SF) 8.75% Cap Rate

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INVESTMENT HIGHLIGHTS

Corporate Guaranty
Strong Retail Corridor with Exceptional Visibility
Densely Populated, Transit-Connected, and Affluent Area

Long Remaining Lease Term
Absolute NNN Expense Structure
Highly Educated Workforce Coupled with Major Employers

EXECUTIVE SUMMARY

Northmarq is pleased to offer for sale to qualified investors the opportunity to acquire the fee simple interest in a single-tenant Walgreens Pharmacy located at 1801 North Olden Ave in Ewing (Trenton), New Jersey. The Property is 100% occupied by Walgreen Eastern Co, Inc. (Guaranteed by Walgreens Corporate) and is subject to an absolute net lease with no landlord responsibilities. There are 12+ years remaining on the base lease term with 50, 1-year renewal option periods; the absolute net lease structure provides for a passive, secure investment with no responsibilities for the Landlord.

Walgreens-Ewing-NJ-Flyer-2

PROPERTY FACTS

Sale Type

Investment NNN

Property Type

Retail

Property Subtype

Freestanding

Building Size

14,680 SF

Building Class

Year Built

2017

Price

$9,060,498 CAD

Price Per SF

$617.20 CAD

Cap Rate

8.75%

NOI

$792,797 CAD

Tenancy

Single

Building Height

1 Story

Building FAR

0.25

Lot Size

1.35 AC

Parking

56 Spaces (3.81 Spaces per 1,000 SF Leased)

Frontage

277’ on N Olden Ave

MAJOR TENANTS

Retailer
-
-
Triple Net
Sep 2037

Walgreens is a trusted and convenient local health destination that millions of Americans rely on every day. Their founder, Charles R. Walgreen Sr., was known for finding new ways to connect with customers on a personal level and treating each person like a guest in his own home. For over a century, they have expanded that personal connection through their network of neighborhood pharmacies and their innovative health services and products. The foundation for all of this is their trusted pharmacy expertise, and their team members who provide essential care that helps people achieve better health outcomes at an affordable cost.