Retail Center with Former Dollar General
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Retail Center with Former Dollar General
2 Retail Properties Online Auction Sale Trenton, NJ
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Investment Highlights
- 802 Prospect Street is a premier retail center with two freestanding single-story buildings totaling 19,794 SF on a 1-acre lot, built in 2015.
- With one building vacant, investors or owner-users have the chance to implement strategies to capture market rents and unlock additional value.
- Near national retailers like Family Dollar and close to residential neighborhoods and offices that drive consistent demand for local retail.
- Direct exposure to 12,000 daily vehicles, providing unparalleled visibility and direct access to Route 31 and Route 1, connecting to Downtown Trenton.
- Property is supported by a strong population of over 250,000 within 5 miles, contributing nearly $3 billion in annual consumer spending.
- Trenton market has experienced rent growth of 1.3% year-over-year, presenting a lucrative opportunity to increase rents to market rates.
Executive Summary
802 Prospect Street is a premier retail center featuring two freestanding single-story buildings on an acre lot, totaling 19,794 square feet in Trenton, New Jersey. This property includes a former Dollar General building with 13,724 square feet and a second building of 6,070 square feet with expansive windows, occupied through 2030 by a triple net tenant, Millhill Child & Family Development Corporation. Built in 2015, the property offers ample parking, two wide ingress/egress points, professional landscaping, high-visibility pylon signage, and an impressive daily traffic count of nearly 12,000 vehicles along Prospect Street, providing unrivaled exposure. This is a prime investment or owner/user opportunity to capture market rents and unlock significant upside with the vacant unit.
Nestled along the Delaware River, Trenton offers exceptional accessibility with major highways and public transportation options nearby. The property is centrally located with direct access to Route 31 and Route 1, connecting downtown Trenton and Philadelphia within an hour’s drive. Trenton-Mercer Airport and Interstate 295 are just 15 miles away, enhancing the property’s connectivity. The area is home to a strong population of over 250,000 within a 5-mile radius, generating nearly $3 billion in annual consumer spending. The property is near national and local retailers, including Family Dollar, and is supported by nearby residential neighborhoods and offices that drive strong retail demand.
Trenton offers a unique mix of heritage and modern amenities, reflected in cultural sites like the New Jersey State Museum and Trenton Battle Monument. The local market has shown steady rent growth of 1.3% year-over-year, providing investors the opportunity to bring rents to market levels. 802 Prospect Street presents an exceptional opportunity to benefit from Trenton’s growth and cultural vibrancy.
Nestled along the Delaware River, Trenton offers exceptional accessibility with major highways and public transportation options nearby. The property is centrally located with direct access to Route 31 and Route 1, connecting downtown Trenton and Philadelphia within an hour’s drive. Trenton-Mercer Airport and Interstate 295 are just 15 miles away, enhancing the property’s connectivity. The area is home to a strong population of over 250,000 within a 5-mile radius, generating nearly $3 billion in annual consumer spending. The property is near national and local retailers, including Family Dollar, and is supported by nearby residential neighborhoods and offices that drive strong retail demand.
Trenton offers a unique mix of heritage and modern amenities, reflected in cultural sites like the New Jersey State Museum and Trenton Battle Monument. The local market has shown steady rent growth of 1.3% year-over-year, providing investors the opportunity to bring rents to market levels. 802 Prospect Street presents an exceptional opportunity to benefit from Trenton’s growth and cultural vibrancy.
Data Room Click Here to Access
- Operating and Financials
- Purchase Agreement
- Property Survey
- Third Party Reports
- Title and Insurance
Market Analytics Click Here to Access
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Market Sale Price per SF
Trenton - NJ USA
Market Cap Rate
Trenton - NJ USA
Market Sale Price per SF by Star Rating
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4 - 5 Star
Market Cap Rate by Star Rating
1 - 2 Star
3 Star
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Market Sale Price per SF Distribution
Market Cap Rate Distribution
Property Facts
| Sale Conditions | Auction Sale | Number of Properties | 2 |
| Sale Type | Investment | Total Building Size | 19,794 SF |
| Status | Active | Total Land Area | 0.96 AC |
| Sale Conditions | Auction Sale |
| Sale Type | Investment |
| Status | Active |
| Number of Properties | 2 |
| Total Building Size | 19,794 SF |
| Total Land Area | 0.96 AC |
Properties
| Property Name / Address | Property Type | Size | Year Built |
|---|---|---|---|
| 802 Prospect St, Trenton, NJ 08618 | Retail | 13,724 SF | 2015 |
| 802 Prospect St, Trenton, NJ 08618 | Retail | 6,070 SF | 2015 |
About Trenton
New Jersey’s capital city, situated off the Delaware River directly between Philadelphia and New York City, has been a long-term home to many traditional big box retailers. All the major traditional general merchandise retailers have a presence here: Macy’s, Lowe’s, JCPenny, Costco, and three Walmarts comprise the top tenants list. JCPenny, in fact, has been leasing their Trenton space for an astonishing 47 years.
The removal of pandemic restrictions in New Jersey in the middle of May 2021 means increased support for the property type going forward. Trenton retail appears to have weathered the COVID-19 storm, with vacancies trending in line with the U.S. average. The metropolitan area is supported by high incomes, ranking above the 90th percentile for U.S. metros.
About the Auction Platform
Ten-X Commercial is the leading end-to-end digital transaction platform for commercial real estate. With over $26bn sold, Ten-X’s platform empowers brokers, sellers and buyers with data-driven technology and comprehensive marketing tools to expand market visibility and decrease time to close. Ten-X consistently yields trade rates at two times the industry average. Ten-X expedites the entire CRE transaction timeline by enabling brokers and sellers to tap into a digital platform that makes it easy to onboard properties, evaluate the success of complimentary omnichannel marketing campaigns and follow up on the strongest pre-qualified leads. Buyers are precision-matched with properties aligned with their investment goals, with unprecedented access to market analysis and due diligence documents to help them securely acquire properties online, with confidence.
Read More
Auction Contact
Mary Humphreys
Contact
Auctioneer License:
Ten-X Commercial, LLC Arlene Richardson RE Brkr 2187404
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Mary Saini -
Halo Realty
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Transaction Fee Schedule
Based on Percentage of Winning Bid Amount.
Winning Bid Amount
Transaction Fee
$0m to < $1m
5.00% ($20,000 min)
$1m to < $3m
3.00%
$3m to < $5m
2.50%
$5m to < $10m
2.25%
$10m to < $15m
2.00%
$15m to < $25m
1.75%
$25m to < $35m
1.50%
$35M to < $45M
1.00%
$45M to < $55M
0.75%
$55M and Up
0.50%
Example Calculation
Winning Bid Amount
$4,000,000
Transaction Fee
$100,000 (2.5%)
Total Purchase Price
$4,100,000
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Retail Center with Former Dollar General
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