3600 State Route 35 - Freestanding FOR SALE


Hazlet, NJ 07730
$2,080,924 USD
215-603-6914
3600 State Route 35, Hazlet, NJ for Sale
$2,080,924 USD
Freestanding - FOR SALE
1/6
null | 8.65% Cap Rate

3600 State Route 35
Hazlet, NJ 07730


HIGHLIGHTS

  • Leasehold ownership structure creates excellent after tax returns due to the owner’s ability to depreciate the improvements 100%
  • Corporately guaranteed by Dollar Tree, an investment grade credit tenant rated BBB- by Standard & Poor’s
  • Dollar Tree recently extended their lease for the third time showing a strong commitment to this location
  • Ideally situated in front of an established Home Depot and in close proximity to CVS, Stop & Shop, Advance Auto, Dunkin’ Donuts, IHOP and 7-Eleven
  • The ground lease has over 71 years remaining on the base term with an annual rent of only $1
  • Highly desirable Northern NJ/NYC MSA real estate and demographics, less than 22 miles from Manhattan

OVERVIEW

CBRE IS PLEASED TO EXCLUSIVELY PRESENT FOR SALE this 12,000 square foot Dollar Tree property in Hazlet, New Jersey. Dollar Tree has been operating successfully at this location since 2002 and recently extended their lease, highlighting their strong commitment and continued success at the site. The tenant has 6 years remaining on the current lease term, with three additional 5-year renewal options. Each renewal period includes a $6,000 rental increase, ensuring future income growth. This is a double net, leasehold arrangement with the landlord responsible for the roof and structure. The leasehold structure offers significant tax advantages, allowing for 100% depreciation of the improvements, creating excellent after-tax returns.

FOR SALE DETAILS

PRICE

$2,080,924 USD

PRICE/SF

$173 USD /SF

CAP RATE

8.65%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

ON GROUND LEASE

Yes

BUILDING DETAILS

PROPERTY NAME

Dollar Tree | Hazlet, NJ | Leasehold

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

ADD'L SUBTYPES

Freestanding

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2002

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.38 AC

LAND SF

16,553 SF

ZONING

BH

APN/PARCEL ID

18-00210-0000-00002

ASK ABOUT THIS PROPERTY

Matthew GormanCBRE, Inc.More Info
215-603-6914

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Matthew GormanCBRE, Inc.More Info
215-603-6914

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.