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Vacant 10,909 SF Former Rite Aid Building 409 Stokes Rd 10,909 SF Vacant Retail Building Online Auction Sale Medford, NJ 08055
Matterport 3D Tour
INVESTMENT HIGHLIGHTS
- Open House: Tuesday, October 28th from 10:00AM-2:00PM EST. Please contact Dan Bottiglieri to RSVP.
- Property benefits from its frontage on Stokes Road, a main thoroughfare and retail corridor connecting Routes 70 and 206.
- Medford, NJ, boasts an average annual income of $198,874, 43% higher than the state average, and over 35% of households earn $200K or more annually.
- 409 Stokes Road is a freestanding former Rite Aid building with a two-lane drive-thru and plentiful surface parking on a 2.17-acre parcel.
- Opportunity with immense upside via new community-focused operations in an established location exposed to more than 12,000 VPD.
- Rite Aid has been the only tenant at the location since 1999, providing a built-in customer base for the new tenant in the second-gen retail space.
EXECUTIVE SUMMARY
As the exclusive agent, Cushman & Wakefield is pleased to offer a 100% fee interest sale at 409 Stokes Road, Medford, New Jersey. This property features a 10,909-square-foot former Rite Aid building with a two-lane drive-thru on 2.17 acres. The second-generation pharmacy building is fully built-out and ready to accommodate a new retail tenant of similar operations. As a freestanding location within the Cross Keys Centre, the new tenant will have prominent pylon signage exposure and highly visible building signage opportunities. Tenants of Cross Keys include a steak and seafood restaurant, local salons, a learning center, a yoga studio, and more.
The property benefits from its frontage on Stokes Road, a main thoroughfare connecting Routes 70 and 206, which sees daily traffic of over 12,000 vehicles. Stokes Road is also lined with national brands for retail synergy along the corridor. Neighbors include Starbucks, Dunkin’, Domino’s, UPS, McDonald’s, 7-Eleven, Hallmark, and various local shops. 409 Stokes Road is approximately 10 miles from Interstate 95 and 295, 20 miles from Philadelphia’s city center, and 30 miles from Philadelphia International Airport.
Medford is a scenic Burlington County township known for its picturesque landscapes and suburban appeal. It is characterized by a predominantly suburban demographic, with a population that enjoys a relatively high median household income and a strong sense of community. The township boasts an excellent education system, with well-regarded public schools and several private institutions. Lifestyle in Medford is marked by a blend of outdoor recreational activities, thanks to numerous parks, lakes, and trails, alongside quaint downtown areas that offer shopping, dining, and community events. Recent trends indicate a growing interest in sustainable living and preserving the area's natural beauty, coupled with a steady influx of families attracted by the quality of life and educational opportunities.
The property benefits from its frontage on Stokes Road, a main thoroughfare connecting Routes 70 and 206, which sees daily traffic of over 12,000 vehicles. Stokes Road is also lined with national brands for retail synergy along the corridor. Neighbors include Starbucks, Dunkin’, Domino’s, UPS, McDonald’s, 7-Eleven, Hallmark, and various local shops. 409 Stokes Road is approximately 10 miles from Interstate 95 and 295, 20 miles from Philadelphia’s city center, and 30 miles from Philadelphia International Airport.
Medford is a scenic Burlington County township known for its picturesque landscapes and suburban appeal. It is characterized by a predominantly suburban demographic, with a population that enjoys a relatively high median household income and a strong sense of community. The township boasts an excellent education system, with well-regarded public schools and several private institutions. Lifestyle in Medford is marked by a blend of outdoor recreational activities, thanks to numerous parks, lakes, and trails, alongside quaint downtown areas that offer shopping, dining, and community events. Recent trends indicate a growing interest in sustainable living and preserving the area's natural beauty, coupled with a steady influx of families attracted by the quality of life and educational opportunities.
MATTERPORT 3D TOUR
3D Tour of the Retail Store Floor
OFFERING MEMORANDUM Click Here to Access
DATA ROOM Click Here to Access
- Offering Memorandum
- Operating and Financials
- Purchase Agreement
- Third Party Reports
- Title and Insurance
- Miscellaneous
MARKET ANALYTICS Click Here to Access
PROPERTY FACTS
Sale Type
Investment
Sale Condition
Auction Sale
Type of Ownership
Fee Simple
Property Type
Retail
Property Subtype
Drug Store
Building Size
10,909 SF
Building Class
B
Year Built
1999
Tenancy
Single
Building Height
1 Story
Building FAR
0.12
Lot Size
2.17 AC
Parcel Number
20-04106-0000-00008-02
Zoning
CC - Community Commercial
Parking
90 Spaces (8.25 Spaces per 1,000 SF Leased)
Frontage
285’ on Stokes Rd
AMENITIES
- Dedicated Turn Lane
- Signage
- Drive Thru
DEMOGRAPHICS
Demographics
1 Mile
3 Mile
5 Mile
2024 Population
2,120
27,359
65,216
2020 Population
2,207
27,404
64,923
2029 Population
2,137
27,783
66,300
2024-2029 Projected Population Growth
0.8%
1.6%
1.7%
Daytime Employees
3,317
11,655
21,070
Total Businesses
534
1,510
2,878
Average Household Income
$168,785
$156,977
$148,946
Median Household Income
$141,637
$135,784
$127,752
Total Consumer Spending
$34.9M
$447.5M
$1.1B
Median Age
44.1
44.3
44.0
2024 Households
754
10,156
24,628
Percent College Degree or Above
32%
35%
33%
Average Home Value
$429,480
$438,068
$425,155
$ values in USD
NEARBY MAJOR RETAILERS
SALE ADVISORS
SALE ADVISORS
Andrew Schwartz, Managing Director
Andrew J. Schwartz is a Senior Director in the Metropolitan Area Capital Markets Group. He is located in Cushman & Wakefield’s Morristown, New Jersey office and specializes in middle markets transactions in the $2 million to $20 million range in the suburban New York Metropolitan area.
Since joining the Capital Markets Group, Andrew has been involved in more than $500 million of property sales comprising over 5.7 million square feet. Prior to that, he worked on Wall Street for 20 years serving institutional clients at Abel Noser and Morgan Stanley. Previous to that, he was with Cushman & Wakefield as an office and industrial leasing broker.
Since joining the Capital Markets Group, Andrew has been involved in more than $500 million of property sales comprising over 5.7 million square feet. Prior to that, he worked on Wall Street for 20 years serving institutional clients at Abel Noser and Morgan Stanley. Previous to that, he was with Cushman & Wakefield as an office and industrial leasing broker.
Andre Balthazard, Sr. Associate
Andres’s team specializes in middle-market transactions in the Northern New Jersey and Suburban New York markets. Prior to joining the Capital Markets team, André interned with Cushman & Wakefield in the Sacramento, California, office, where he worked with teams that represented office and industrial tenants and landlords.
Jordan Sobel, Director
Jordan N. Sobel is a Director in the Metropolitan Area Capital Markets Group. He is located in Cushman & Wakefield’s Morristown, New Jersey office and specializes in middle markets transactions in the $2 million to $50 million range in the suburban New York Metropolitan area.
Since joining the Private Client Group, Jordan has been involved in more than $1 billion of property sales comprising over 4 million square feet. Jordan’s tenacity and work ethic has consistently delivered superior results for his clients.
Prior to joining the Capital Markets Group, Jordan was a Land Acquisition Analyst at K. Hovnanian Homes. There he assisted the Acquisition team with the evaluation on current and potential acquisitions.
Since joining the Private Client Group, Jordan has been involved in more than $1 billion of property sales comprising over 4 million square feet. Jordan’s tenacity and work ethic has consistently delivered superior results for his clients.
Prior to joining the Capital Markets Group, Jordan was a Land Acquisition Analyst at K. Hovnanian Homes. There he assisted the Acquisition team with the evaluation on current and potential acquisitions.
Daniel Bottiglieri, Senior Associate - Capital Markets
Daniel J. Bottiglieri is an Associate in the Metropolitan Area Capital Markets Group. He is located in Cushman & Wakefield’s Morristown, New Jersey office and specializes in middle market dispositions ranging from $2 million to $30 million with a specific focus on retail sales.
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AUCTION CONTACT
Victoria Quade
Contact
Auctioneer License:
Ten-X Commercial, LLC Arlene Richardson RE Brkr 2187404
CONTACTS
-
Andrew Schwartz -
Andre Balthazard -
Jordan Sobel -
Daniel Bottiglieri -
Cushman & Wakefield
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VIDEOS
MATTERPORT 3D EXTERIOR
MATTERPORT 3D TOUR
PHOTOS
STREET VIEW
STREET
MAP
3% Transaction Fee
Based on Winning Bid Amount
Minimum Transaction Fee
$20,000 USD
Maximum Transaction Fee
$300,000 USD
Example Calculation
Winning Bid Amount
$5,000,000 USD
Transaction Fee
$150,000 USD (3%)
Total Purchase Price
$5,150,000 USD
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Vacant 10,909 SF Former Rite Aid Building | 409 Stokes Rd
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Vacant 10,909 SF Former Rite Aid Building | 409 Stokes Rd
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