7-ELEVEN W/ GAS - NEW YORK CITY METRO 284 Washington Ave

4,714 SF Retail Building Carlstadt, NJ 07072 $7,120,000 ($1,510/SF) 5.65% Cap Rate

Investment Highlights

  • 15 Year Absolute Lease Featuring 10% Rental Increases throughout the Initial Term and Options.
  • Extremely Dense and Affluent Area with over 700k People Residing within a 5-Mile Radius,
  • Strong Daytime Employment Area - Near Numerous Established Business Parks, Office Spaces, Distribution Centers, Industrial & Manufacturing Plants, etc
  • Brand New 2024 High Quality Construction featuring a Convenience Store, Gas Station and Raise the Roost. This Site Features 12 Fuel Dispensors.
  • Down the Street From Metlife Stadium, the World's 9x Top Grossing Stadium seeing Millions of Visitors Annually for NFL Games, Concerts, and more.
  • Significant Tax Benefits - Subject Property Qualifies for Tax Savings via Accelerated Depreciation and Cost Segregation.

Executive Summary

15 Year Absolute Net Lease | Qualifies for Accelerated Depreciation | High Barrier to Entry Market | Signalized Hard Corner | Urban Infill High Quality Investment | Down the Street from Metlife Stadium | Across from Teterboro Airport | Strong Daytime Employment Area | Densely Populated & Affluent Area: 700k+ People living within 5-Mile Radius
New Jersey Broker of Record: John Horowitz | 250 Pehle Ave., Suite 501 Saddle Brook, NJ 07663 | P: 212-430-5261 | Lic #: 2192359 John.Horowitz@MarcusMillichap.com

Property Facts

Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Convenience Store
Building Size
4,714 SF
Building Class
C
Year Built
2024
Price
$7,120,000
Price Per SF
$1,510
Cap Rate
5.65%
NOI
$402,200
Tenancy
Single
Building Height
1 Story
Building FAR
0.08
Lot Size
1.28 AC

PROPERTY TAXES

  • Listing ID: 33536127

  • Date on Market: 10/16/2024

  • Last Updated:

  • Address: 284 Washington Ave, Carlstadt, NJ 07072