7408 Tonnelle Ave - Service Station FOR SALE


North Bergen, NJ 07047
$9,991,000 USD
973-632-1386
7408 Tonnelle Ave, North Bergen, NJ for Sale
$9,991,000 USD
Service Station - FOR SALE
1/11
null | 5.25% Cap Rate

7408 Tonnelle Ave
North Bergen, NJ 07047


HIGHLIGHTS

  • 16+ Years Remaining | Corporate Guaranteed (Fitch: BBB) | Scheduled Rental Increases | Options to Extend
  • Absolute NNN Ground Lease | Land Ownership | No Landlord Responsibilities
  • Directly Next to Chick-Fil-A | Dense Retail Corridor |Across From Target & Lowe’s Anchored Center
  • Signalized Hard Corner Intersection | Interstate 95 Excellent Visibility | Multiple Points of Access

OVERVIEW

• Over 16 years remaining on an original 20-year ground lease with 6 (5-year) options to extend, demonstrating the tenant’s long-term commitment to the site • The ground lease features a rare 15.24% rental increase in lease year 11, a 10%increase in year 16 and 10% increases at the beginning of each option period • The lease is corporate guaranteed by Wawa, Inc., an investment grade (Fitch: BBB), nationally recognized, and an established convenience store and gas brand with over 1,100+ locations • Wawa was ranked No. 22 in Forbes 2024 Ranking of America’s largest private companies

FOR SALE DETAILS

PRICE

$9,991,000 USD

PRICE/SF

$1,978 USD /SF

CAP RATE

5.25%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

ON GROUND LEASE

Yes

BUILDING DETAILS

PROPERTY NAME

Wawa | 16+yrs Corp Abs NNN Grd Lse

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Service Station

ADD'L SUBTYPES

Convenience Store

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2022

SPRINKLERS

-

PARKING SPACES

31

LAND DETAILS

LAND ACRES

1.33 AC

LAND SF

57,935 SF

ZONING

C2

APN/PARCEL ID

08-00254-0000-00066-02

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.