625 N Black Horse Pike | Blackwood, NJ 08012
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625 N Black Horse Pike
Blackwood, NJ 08012
Walgreens · Retail Property For Sale
Investment Highlights
- Walgreens Boots Alliance, Inc. (NASDAQ: “WBA”) is rated “BBB” by Standard & Poor’s and is ranked 18th in the Fortune 500
- Proud to be a neighborhood health destination serving approximately 10 million customers each day
- Property features prescription drive-thru lane, providing additional customer convenience and boosting sales revenue
- Walgreens is the second-largest pharmacy store chain in the United States with over 8,700 retail locations
- Walgreens employs 245,000+ people and 86,000+ healthcare service providers
Executive Summary
This Walgreens is ideally located at the signalized intersection of Black Horse Pike, Blenheim-Erial Road, and Coles Road (combined 20,000+ AADT). The property features excellent visibility from State Route 42, which experiences a high traffic count of 116,702 AADT, allowing the site to capture significant local and commuter traffic. The site is surrounded by notable tenants such as Target, Dick’s, Raising Cane’s, Red Robin, Taco Bell, Panera Bread, McDonald’s, Starbucks, Howard Johnson by Wyndham, and more, creating significant crossover shopping. This location will include a full pharmacy, select retail product, and prescription drive-thru lane, providing additional customer convenience and boosting sales revenue. 194,792 residents live within a five-mile radius of the property, establishing a large and regular customer base for the site. Located in an affluent community, the average annual household income within one mile of the site is a robust $145,047.
PROPERTY FACTS
Sale Type
Investment NNN
Sale Condition
1031 Exchange
Property Type
Retail
Property Subtype
Drug Store
Building Size
10,560 SF
Building Class
B
Year Built/Renovated
1984/2006
Price
$5,985,000
Price Per SF
$567
Cap Rate
7.75%
NOI
$463,823
Tenancy
Single
Building Height
1 Story
Building FAR
0.11
Lot Size
2.21 AC
Zoning
GB
Parking
61 Spaces (5.78 Spaces per 1,000 SF Leased)
Frontage
169 FT on Black Horse Pike
Amenities
- Bus Line
- Signage
- Signalized Intersection
- Drive Thru
PROPERTY TAXES
Parcel Number | 15-10801-0000-00001 | Improvements Assessment | $4,180,000 |
Land Assessment | $670,000 | Total Assessment | $4,850,000 |
PROPERTY TAXES
Parcel Number
15-10801-0000-00001
Land Assessment
$670,000
Improvements Assessment
$4,180,000
Total Assessment
$4,850,000
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