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3600 State Route 35 12,000 SF Retail Building Hazlet, NJ 07730 $3,001,228 CAD ($250.10 CAD/SF) 8.80% Cap Rate
INVESTMENT HIGHLIGHTS
- Dollar Tree recently extended their lease for the third time showing a strong commitment to this location.
- Ideally situated in front of an established Home Depot and in close proximity to CVS, Stop & Shop, Advance Auto, Dunkin Donuts, IHOP, and 7-eleven.
- Highly desirable Northern NJ/NYC MSA real estate and demographics, less than 22 miles from Manhattan.
- Leasehold ownership structure creates excellent after-tax returns due to the owner's ability to depreciate the improvements 100%
- The ground lease has over 71 years remaining on the base term with an annual rent of only $1.
- Situated on Route 35 with traffic counts exceeding 45,047 vehicles per day and less than 1 mile from the Garden State Parkway with another 98,890 VPD.
EXECUTIVE SUMMARY
Dollar Tree, Inc., headquartered in Chesapeake, Virginia, operates over 16,000 stores across the U.S. and Canada, offering a variety of goods priced at $1.25 or less, with some higher-priced items. Founded in 1986, the company went public in 1995 and acquired Family Dollar in 2015, solidifying its position as a major discount retailer. Dollar Tree targets budget-conscious consumers with products like food, household goods, and seasonal items. Dollar Tree has maintained its place as a dominant player in the discount
retail space by leveraging its scale, offering variety and value, and adapting to changing market dynamics.
retail space by leveraging its scale, offering variety and value, and adapting to changing market dynamics.
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Freestanding
Building Size
12,000 SF
Building Class
B
Year Built
1997
Price
$3,001,228 CAD
Price Per SF
$250.10 CAD
Cap Rate
8.80%
NOI
$264,108 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.72
Lot Size
0.38 AC
Zoning
BH
AMENITIES
- Freeway Visibility
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 18-00210-0000-00002 | Improvements Assessment | $6,257,472 CAD |
| Land Assessment | $12,890,671 CAD | Total Assessment | $19,148,144 CAD |
PROPERTY TAXES
Parcel Number
18-00210-0000-00002
Land Assessment
$12,890,671 CAD
Improvements Assessment
$6,257,472 CAD
Total Assessment
$19,148,144 CAD
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3600 State Route 35
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