3231 State Route 27 - Freestanding FOR SALE
Franklin Park, NJ 08823 |
$3,230,769 USD
732-724-9019
3231 State Route 27
Franklin Park, NJ 08823
HIGHLIGHTS
- Located within a dense market with a daytime and residential population of approximately 97,800 and 117,000 respectively within 5 miles
- Strong vehicular traffic along Route 27 with over 24,000 vehicles per day connecting to major towns Princeton, New Brunswick and Edison amongst others
- Located along Route 27, a prominent retail corridor with strong market co-tenancy including Wawa, Stop and Shop, CVS and Dunkin Donuts amongst others
- +/- 1.48-acre vacant lot with a variety of permitted uses available for purchase alongside the dispensary
- Franklin Park has seen tremendous household median income growth with an 11.5% increase from $95,000 to $106,000
- Strong tenancy with the cannabis market in New Jersey rapidly expanding with recreational sales reaching $201 million in Q1 2024 - a 38% increase
FOR SALE DETAILS
PRICE
$3,230,769 USD
PRICE/SF
$923 USD /SF
CAP RATE
6.5%
% LEASED
-
TENANCY
Multiple
SALE TYPE
Investment
BUILDING DETAILS
PROPERTY NAME
Retail Building + Excess Land
PROPERTY TYPE
Retail
PROPERTY SUBTYPE
Freestanding
TOTAL BUILDING SIZE
-
STORIES
1
YEAR BUILT
1950
SPRINKLERS
-
PARKING SPACES
50
LAND DETAILS
LAND ACRES
1.49 AC
LAND SF
64,904 SF
ZONING
NB
APN/PARCEL ID
08-00034-08-00056-01
ASK ABOUT THIS PROPERTY
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732-724-9019
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732-724-9019
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