810 Springfield Ave | Irvington, NJ 07111
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- LoopNet Team
810 Springfield Ave
Irvington, NJ 07111
Walgreens | NNN Ground Lease · Retail Property For Sale
INVESTMENT HIGHLIGHTS
- Features a rare long-term Walgreens ground lease with 10% rental increases in the base term coupled with a New York City MSA location
- Strong Fundamentals: Walgreens ground lease structure, replaceable rent, hard corner location, signaled intersection, and drive-thru
- Corporately guaranteed by Walgreens Co., part of the Walgreens Boots Alliance (WBA), which has an investment grade “BBB” rating by Standard and Poor’s
- Irvington is located just 3 miles from Newark and 15 miles from Manhattan, within the dense NY-NJ-PA MSA - more than 428,000 residents within 3 mi
- The Property features a drive-thru, a key part of tenant success throughout COVID-19 and of increased importance for many tenants moving forward
- Just 1 mile from on-ramps to both the Garden State Parkway (235,003 VPD) and I-78 (172,282 VPD), providing access throughout NJ and the New York Metro
PROPERTY FACTS
Property Type
Retail
Property Subtype
Building Size
12,300 SF
Building Class
C
Year Built
2017
Tenancy
Single
Building Height
1 Story
Building FAR
0.35
Lot Size
0.82 AC
Parking
50 Spaces (4.07 Spaces per 1,000 SF Leased)
AMENITIES
- Freeway Visibility
PROPERTY TAXES
| Parcel Number | 09-00135-0000-00031-01 | Improvements Assessment | $6,193,800 |
| Land Assessment | $1,166,300 | Total Assessment | $7,360,100 |
PROPERTY TAXES
Parcel Number
09-00135-0000-00031-01
Land Assessment
$1,166,300
Improvements Assessment
$6,193,800
Total Assessment
$7,360,100
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