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Walgreens 3221 Bayshore Rd 13,199 SF Retail Building North Cape May, NJ 08204 $4,990,234 CAD ($378.08 CAD/SF) 8% Cap Rate
Investment Highlights
- he subject location has over 25 years of drugstore operating history allowing for an established customer base.
- Excellent Demographics with an Average Household Income over $98,000.
- .5 miles N of Pelican Pointe Nursing Center that offers 24-hr Nursing Care, Rehab Therapy, Post Hospital & Surgical Care.
- Positioned on an oversized hard corner parcel along Bayshore Rd.
Executive Summary
LONG TERM COMMITMENT: Walgreens executed a brand new 13 Year lease in 2022
INCREASES THROUGHOUT LEASE TERM: Lease calls for 5% rental increases every 5 years throughout the base term providing a hedge against inflation.
INCREASES THROUGHOUT LEASE TERM: Lease calls for 5% rental increases every 5 years throughout the base term providing a hedge against inflation.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Drug Store
Building Size
13,199 SF
Building Class
B
Year Built
1999
Price
$4,990,234 CAD
Price Per SF
$378.08 CAD
Cap Rate
8%
NOI
$399,219 CAD
Tenancy
Single
Building Height
1 Story
Slab To Slab
15’
Building FAR
0.08
Lot Size
3.59 AC
Zoning
commercial
Parking
75 Spaces (5.68 Spaces per 1,000 SF Leased)
Frontage
Amenities
- Pylon Sign
- Signage
- Drive Thru
Nearby Major Retailers
Property Taxes
| Parcel Number | 05-00495-01-00014 | Improvements Assessment | $2,344,938 CAD |
| Land Assessment | $926,118 CAD | Total Assessment | $3,271,056 CAD |
Property Taxes
Parcel Number
05-00495-01-00014
Land Assessment
$926,118 CAD
Improvements Assessment
$2,344,938 CAD
Total Assessment
$3,271,056 CAD
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Walgreens | 3221 Bayshore Rd
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