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
