3158 Route 9 S - Freestanding FOR SALE


Rio Grande, NJ 08242
$3,913,043 USD
847-444-9254
3158 Route 9 S, Rio Grande, NJ for Sale
$3,913,043 USD
Freestanding - FOR SALE
1/9
null | 5.25% Cap Rate

3158 Route 9 S
Rio Grande, NJ 08242


HIGHLIGHTS

  • New 20-Year NNN Lease with Attractive Escalations and No Landlord Responsibilities
  • Brand New Construction Sold at Development Cost
  • Situated in the center of Cape May County, just off Garden State Parkway (30,689 VPD).
  • Other retailers in the immediate area include Walmart, Lowe's Home Improvement, ALDI, Starbucks & McDonald's.
  • Population of nearly 50,000 within a 5-mile radius.
  • Average Annual Household Income of $110,000 within a 5-mile radius.

OVERVIEW

As the exclusive advisor to Ownership, CBRE, Inc. is proud to offer qualified investors the opportunity to acquire, via long-term sale-leaseback, the recently constructed 6,760-square-foot Mavis Tires & Brakes located at 3158 Route 9 South, Rio Grande, NJ (the “Property”). Structured as a NNN lease with no landlord responsibilities, the Property will include a new 20-year lease to Mavis Tire Supply LLC (the “Tenant”) with six, 5-year options to renew. The lease will feature a 5% escalation every five years and all renewal options will be subject to the same 5% escalation at each onset. The Property will be sold at its development cost of $3,913,043 and investors are asked to bid the rent / capitalization rate as part of their offer.

FOR SALE DETAILS

PRICE

$3,913,043 USD

PRICE/SF

$579 USD /SF

CAP RATE

5.25%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Mavis Tires & Brakes Sale-Leaseback

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2024

SPRINKLERS

-

PARKING SPACES

25

LAND DETAILS

LAND ACRES

1.18 AC

LAND SF

51,401 SF

ZONING

TC

APN/PARCEL ID

06-01436-01-00004-03

ASK ABOUT THIS PROPERTY

847-444-9254

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847-444-9254

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