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Northern NJ Walgreens Assumable Debt ±12 Yrs 125 Morris Ave 13 851 pi² Commerce de détail Immeuble Springfield, NJ 07081 10 580 602 $ CAD (763,89 $ CAD/pi²) 8% Taux de capitalisation
Certaines informations ont été traduites automatiquement.
FAITS SAILLANTS DE L'INVESTISSEMENT
- Assumable $5.63M interest-only loan at below-market 3.50% fixed rate, offering a projected 20.7% cash-on-cash return (for qualified buyers).
- Lease extends through July 31, 2038, providing 12 years and 6 months of remaining income.
- Northern New Jersey infill market with significant surrounding population base, including ±131,000 residents within a 3-mile radius.
- Walgreens operates under an NNN lease with zero landlord responsibilities.
- Situated at the intersection of Morris Ave. and Springfield Ave., a primary commuter and retail corridor (±38K VPD).
RÉSUMÉ DE L'ANNONCE
We are pleased to present for sale the Walgreens property located at 125 Morris Ave, Springfield, NJ 07081 (the “Property”). Walgreens operates under an absolute net lease with no landlord responsibilities, providing a truly passive investment structure. The lease runs through July 31, 2038, offering 12 years and 6 months of remaining term.
Constructed in 2013, the Property features Walgreens’ newer prototype design, representing a modern build with high barriers to entry in a supply constrained Northern New Jersey market.
The Property offers a unique opportunity for a qualified investor to assume existing interest-only financing at a below-market fixed rate of 3.50%, with an outstanding loan balance of $5.63 million through maturity on December 1, 2030. This financing structure provides a projected cash-on-cash return of 20.7%.
The property is situated at the intersection of Morris Avenue and Springfield Avenue, a primary retail and commuter corridor in Springfield, New Jersey, with a combined daily traffic count of ±38,100 vehicles. Located in Union County, one of Northern New Jersey’s most established submarkets, the site benefits from strong local demographics, including an average household income of $140,553 within a one-mile radius.
Constructed in 2013, the Property features Walgreens’ newer prototype design, representing a modern build with high barriers to entry in a supply constrained Northern New Jersey market.
The Property offers a unique opportunity for a qualified investor to assume existing interest-only financing at a below-market fixed rate of 3.50%, with an outstanding loan balance of $5.63 million through maturity on December 1, 2030. This financing structure provides a projected cash-on-cash return of 20.7%.
The property is situated at the intersection of Morris Avenue and Springfield Avenue, a primary retail and commuter corridor in Springfield, New Jersey, with a combined daily traffic count of ±38,100 vehicles. Located in Union County, one of Northern New Jersey’s most established submarkets, the site benefits from strong local demographics, including an average household income of $140,553 within a one-mile radius.
FAITS SUR LA PROPRIÉTÉ
Type de vente
Investissement pour loyer hypernet
Type de propriété
Commerce de détail
Sous-type de propriété
Pharmacie
Taille du bâtiment
13 851 pi²
Classe d’immeuble
B
Année de construction
2013
Prix
10 580 602 $ CAD
Prix par pi²
763,89 $ CAD
Taux de capitalisation
8%
Revenu net d’exploitation
846 448 $ CAD
Location
Unique
Hauteur du bâtiment
1 étage
Coefficient d’occupation des sols de l’immeuble
0,26
Taille du lot
1,21 AC
Zonage
R-2
Stationnement
50 places (3,61 places par 1 000 pi² loué)
Façade
COMMODITÉS
- Lot de coin
- Enseigne sur pylône
- Affichage
- Intersection avec signalisation
- Service au volant
- Affichage sur monument
- Climatisation
Walk Score®
Très pratique à pied (77)
PRINCIPAUX DÉTAILLANTS À PROXIMITÉ
Impôts fonciers
| Numéro de lot | 17-00811-0000-00002 | Évaluation des bâtiments | 4 062 421 $ CAD |
| Évaluation du terrain | 5 564 960 $ CAD | Évaluation totale | 9 627 381 $ CAD |
Impôts fonciers
Numéro de lot
17-00811-0000-00002
Évaluation du terrain
5 564 960 $ CAD
Évaluation des bâtiments
4 062 421 $ CAD
Évaluation totale
9 627 381 $ CAD
(619) 297-0055
x302
CONTACTS
-
Jason Pongsrikul -
Chris Barry -
Sean Dan -
Pharma Property Group- Drugstore Specialists
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Northern NJ Walgreens Assumable Debt ±12 Yrs | 125 Morris Ave
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