Farm Stores Newton,New Jersey

$1,248,174
Closed Single-Tenant
Property type:Single-Tenant Net Lease

The space

  • Listing Price: $1,248,174
  • NOI: $71,770
  • Cap Rate: 5.75%
  • Lease Type: NNN
  • Guarantor: Personal Guarantee
  • Years Remaining on Lease: 20 Years
  • Rentable Square Feet: 792 SF
  • Lot Size: 0.31 Acres (13,504 SF)
  • Year Built: 2021

Description

9 Nelson Street
Newton, New Jersey 07860

Investment Highlights

  • Under Renovation; Opening Soon!
  • Long-Term, 20-Year Absolute Triple Net (NNN) Lease
  • Lease Commencement Upon Store Opening
  • Dense Urban Infill | Walmart, Lowe’s, The Home Depot, Walgreens, Dollar General, Dairy Queen, McDonald’s, Burger King, and More
  • Affluent Suburban Community | Average Income Within a Three-Mile Radius Exceeds $102,400
  • Strong Academic Presence| Total Combined Enrollment of Approximately 3,500 Students Within a Two-Mile Radius
  • Newark Liberty International Airport (EWL) Serves Over 34,000,000 Passengers Annually and Contributes $2.6 Billion to the Regional Economy | Located Within a 40-Minute Drive of the Subject Property

 

Investment Overview

Marcus & Millichap is pleased to present the exclusive listing for a Farm Stores located at 9 Nelson Street in Newton, NJ. Opening soon, the site will consist of roughly 792 rentable square feet of building space on estimated 0.31-acre parcel of land.

The Farm Stores property is subject to a brand new 20-year triple-net (NNN) lease, which will commence upon store opening. The initial annual rent will be $71,770 and will increase by three percent (3%) annually, throughout the term of the lease and in each option period. There are two (2), five (5)-year tenant renewal options, extending the total possible lease term to 30 years.

NJ Broker of Record:
Brian Hosey
Marcus & Millichap
License: 1434917

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