501 Route 9 - Supermarket FOR SALE
Waretown, NJ 08758 |
$8,770,621 USD
215-603-6914
501 Route 9
Waretown, NJ 08758
HIGHLIGHTS
- Leasehold structure allows for full depreciation of the improvements, providing enhanced after-tax returns compared to fee simple investments.
- Saker ShopRites, a key member of the Wakefern Food Corporation cooperative, operates the only grocery store within a 5-mile radius.
- Tenant may purchase the land at fair market value starting in year 35 and every five years thereafter.
- Waretown Town Center draws over 1.3 million visitors annually (Placer.ai).
- High-profile location along US Route 9 (15,363 VPD), parallel to Garden State Parkway (70,000+ VPD).
- Just inland from Long Beach Island, the property benefits from a stable year-round population unlike many Jersey Shore towns.
OVERVIEW
CBRE IS PLEASED TO EXCLUSIVELY PRESENT FOR SALE the leasehold interest in a ShopRite-anchored property tenanted by Saker ShopRites, Inc., one of the most prominent and experienced grocery operators in the region. As a key member of Wakefern Food Corporation— the largest retailer-owned cooperative in the United States—Saker benefits from the scale and support of a $20.1 billion retail platform, while operating with localized market insight and consistency.
FOR SALE DETAILS
PRICE
$8,770,621 USD
PRICE/SF
$144 USD /SF
CAP RATE
9%
% LEASED
-
TENANCY
Single
SALE TYPE
Investment
ON GROUND LEASE
Yes
BUILDING DETAILS
PROPERTY NAME
ShopRite | Leasehold Interest | Waretown, NJ
PROPERTY TYPE
Retail
PROPERTY SUBTYPE
Supermarket
TOTAL BUILDING SIZE
-
STORIES
1
YEAR BUILT
2008
SPRINKLERS
-
PARKING SPACES
250
LAND DETAILS
LAND ACRES
1.5 AC
LAND SF
65,340 SF
ZONING
TCMX
APN/PARCEL ID
21-00041-0000-00036-01-C01
ASK ABOUT THIS PROPERTY
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215-603-6914
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215-603-6914
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