Walgreens - Absolute NNN Lease | 2546 Hooper Ave
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Walgreens - Absolute NNN Lease 2546 Hooper Ave
14,550 SF Retail Building Brick, NJ 08723 $5,760,000 ($396/SF) 7.25% Cap Rate
Investment Highlights
- Strong Performing Store & Historical Sales – Call for Details
- Upscale Trade Area - Jersey Shore - Waterfront Communities of Shore Acres and Baywood
- One of the Largest Drugstore Chains in the United States - Over 9,000 Stores in All 50 States, Washington D.C., Puerto Rico & U.S Virgin Islands
- New 10.5 Year Extended Lease Term Remaining
- Single Tenant Absolute NNN Walgreens – Corporate Guarantee
- Absolute Net Lease - Zero Landlord Responsibilities
Executive Summary
The Snyder Carlton National Net Lease Team is pleased to offer to investors an opportunity to acquire the single tenant absolute NNN leased Walgreens Pharmacy in Brick Township, NJ. Walgreens is one of the largest drugstore chains in the U.S. and operates over 9,000 Stores in all 50 states, Washington D.C., Puerto Rico and the U.S. Virgin Islands. Walgreens just extended their lease for a new 10.5 year lease term. The store is high performing with strong store sales history. Contact broker for store sales history.
The property is located in an upscale dense trade area in Southern New Jersey serving some of the nicest high end waterfront communities in Brick Township including Shore Acres and Baywood. Average Household Income is over $129,000 within a five mile radius that includes over 188,000 people.
The 14,550 SF standalone building with drive-thru on a large 2.8-acre parcel is strategically positioned on the hard corner signalized intersection of Drum Point Road and Hooper Avenue which have a combined traffic count exceeding 39,600 VPD and prospers from excellent visibility and access. Nearby retailers include McDonald’s, Taco Bell, KFC, 7-Eleven, CVS Pharmacy, ShopRite, ALDI, Best Buy, AutoZone, Marshalls, Kohl’s and Harbor Freight Tools.
The property is located in an upscale dense trade area in Southern New Jersey serving some of the nicest high end waterfront communities in Brick Township including Shore Acres and Baywood. Average Household Income is over $129,000 within a five mile radius that includes over 188,000 people.
The 14,550 SF standalone building with drive-thru on a large 2.8-acre parcel is strategically positioned on the hard corner signalized intersection of Drum Point Road and Hooper Avenue which have a combined traffic count exceeding 39,600 VPD and prospers from excellent visibility and access. Nearby retailers include McDonald’s, Taco Bell, KFC, 7-Eleven, CVS Pharmacy, ShopRite, ALDI, Best Buy, AutoZone, Marshalls, Kohl’s and Harbor Freight Tools.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Drug Store
Building Size
14,550 SF
Building Class
B
Year Built
2005
Price
$5,760,000
Price Per SF
$396
Cap Rate
7.25%
NOI
$417,719
Tenancy
Single
Building Height
1 Story
Building FAR
0.12
Land Acres
2.80 AC
Zoning
R15 - single-family residential zone with regulations
Parking
42 Spaces (2.89 Spaces per 1,000 SF Leased)
Frontage
243 FT on Hooper Avenue
Amenities
- Signage
- Signalized Intersection
- Drive Thru
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | 07-00548-02-00026 | Improvements Assessment | $2,871,500 |
| Land Assessment | $770,000 | Total Assessment | $3,641,500 |
PROPERTY TAXES
Parcel Number
07-00548-02-00026
Land Assessment
$770,000
Improvements Assessment
$2,871,500
Total Assessment
$3,641,500
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Jereme Snyder -
Eric Carlton -
Power Broker Jacklene Chesler -
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Walgreens - Absolute NNN Lease | 2546 Hooper Ave
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