398 State Route 57 W
Washington, NJ 07882
Tractor Supply & Upside · Retail Property For Sale

Marcus & Millichap is pleased to exclusively list for sale a 54,750 square foot retail building including Tractor Supply leasing 30,000 square feet as the tenant. The remaining space is currently vacant. Tractor Supply has operated in this location since 2005, recently renewed a five year option and has one more five year option remaining which includes a ten percent rental increase. The nearest Tractor Supply location is over 15 miles away. Priced on actual income at $2,550,000 representing a 6.65% cap rate, an investor has the opportunity to lease up the vacancy as upside. The subject property is positioned on Route 57 on over 7 acres. The immedate area is projected to have population growth and has an average household income of $100,000. Washington Township is located in Warren County, New Jersey. The subject property is 60 miles west of New York City and 70 miles north of Philadelphia. In 2014, the median household income within a 5-mile radius of subject property was $77,200. That is approximately $26,000 higher than the national average. The median household income has increased by 22.94% since 2000 in the Washington Township area. It is forecasted that the median household income will increase to $88,849 by the year 2020, signifying a 15.08% increase from the current year. In 2014, the population within a 5-mile radius of subject property was 26,432. The median age of the population in the Washington Township area is 43 and there is a population density of 335 people per square mile.