Investment Offering – $1,800,000
Location: 203 Darling Avenue, Nutley, NJ
|Current Rent: $90,000||Cap Rate: 5.00%|
|Lease Term: 10||Remaining Term: 10|
|Lease Type: NNN||Building Sq. Ft.: 2,385|
|Renewal Options: 5, Five Year Options|
- Tenant: 7-Eleven operates, franchises and licenses more than 8,600 stores in the U.S. and Canada. Of the more than 7,800 stores the company operates and franchises in the United States, more than 6,200 are franchised. Outside of the U.S. and Canada, there are more than 43,500 7-Eleven’s worldwide. As the world’s largest operator, franchisor, and licensor of convenience stores, 7-Eleven, is well-established in the net lease investment sales market. With over $53 billion in sales worldwide, 7-Eleven properties are supported by good business and chain-brand recognition- Long-Term Absolute NNN leases.
- Lease: Brand new construction with a 10 Year Lease, and Five 5 year options. Rent Increases of 8% every 5 Years.
- Strategic Location: The property is ideally positioned on a hard corner at the intersection of Darling Avenue and Kingsland Street. The site is just off of Route 3 which has a traffic count of 133,000 vehicles per day. Nutley is less than half an hour away from New York City by car using Route 3 and the Lincoln Tunnel, or by way of N.J. Transit Bus lines.
- New Development: New Jersey’s first private medical school in 50 years is planned for part of the 110-acres behind the 7Eleven site. This is a $30m partnership between Seton Hall University & Hackensack University Medical Center with 500,000 square feet to be built by 2017.
- Dynamic Demographics: Average annual household income of $90,149 and population of 235,427 within a 3-mile radius.
- Other major retailers with a presence in the immediate vicinity include: TD Bank, CVS, Modell’s Sporting Goods, Dollar Tree, LA Fitness, TGI Fridays Super Stop & Shop, Sherwin Williams, YMCA, BJ’s Wholesale, Goodwill, Home Depot, TJ Maxx, Bed Bath & Beyond, Dominos, Bank of America, Advance Auto, CVS, BP, Wells Fargo, Subway, Target, Lowe’s and TD Bank among others.