110 Bluebird Ln - Restaurant FOR SALE


Millville, NJ 08332
$3,939,000 USD
973-632-1386
110 Bluebird Ln, Millville, NJ for Sale
$3,939,000 USD
Restaurant - FOR SALE
1/12
null | 5.25% Cap Rate

110 Bluebird Ln
Millville, NJ 08332


HIGHLIGHTS

  • Rare Fee Simple Absolute NNN Lease with 1% Annual Rent increases | 10+ Years Remaining with 4 (5-year) renewal options
  • Strong sales with consistent YOY sales growth (contact agent for details)
  • Corporate guaranty from Darden Restaurants, Inc. (NYSE: DRI), one of the largest restaurant operators in the U.S. with 2,100+ locations nationwide
  • Prominent frontage along State Hwy 47 (31,500 VPD), just off its intersection with Veterans Memorial Highway (24,800 VPD)
  • Outparcel to a Lowe’s-anchored shopping center with national co-tenants including Planet Fitness, Chili’s, and AutoZone
  • Directly adjacent to Cumberland Crossing Shopping Center, which draws 2.9M annual visits and is anchored by Walmart alongside Hobby Lobby, Dollar Tree

OVERVIEW

SRS Real Estate Partners-Northeast, LLC is pleased to present the opportunity to acquire the fee simple interest in an absolute NNN-leased Longhorn Steakhouse located in Millville, New Jersey. There are over 10 years of primary term remaining with four (4) additional five-year renewal options, promoting stable long-term income. The lease includes 1% annual rental increases throughout the initial term and option periods, delivering steady NOI growth and a built-in hedge against inflation. The location reports strong sales with consistent YOY sales growth (contact agent for details). The lease is guaranteed by Darden Restaurants, Inc. (NYSE: DRI), one of the largest restaurant operators in the U.S. with over 2,100 locations nationwide and an investment-grade credit rating (S&P: BBB).

FOR SALE DETAILS

PRICE

$3,939,000 USD

PRICE/SF

$700 USD /SF

CAP RATE

5.25%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

LongHorn Steakhouse | 10+yrs Remain Abs NNN

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Restaurant

ADD'L SUBTYPES

Freestanding

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2006

SPRINKLERS

-

PARKING SPACES

123

LAND DETAILS

LAND ACRES

1.97 AC

LAND SF

85,813 SF

ZONING

RC

APN/PARCEL ID

10-00228-01-00003

ASK ABOUT THIS PROPERTY

Kyle FantSRS Real Estate PartnersMore Info
973-632-1386

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Kyle FantSRS Real Estate PartnersMore Info
973-632-1386

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.