500 Route 530 - Drug Store FOR SALE


Manchester, NJ 08759
$6,730,000 USD
646-841-0627
500 Route 530, Manchester, NJ for Sale
$6,730,000 USD
Drug Store - FOR SALE
1/7
null | 7.75% Cap Rate

500 Route 530
Manchester, NJ 08759


HIGHLIGHTS

  • Corporate Guarantee
  • Long-Term Lease with Built-in Rental Increases
  • 10-Year+ Operating History
  • Premier New Jersey Market

OVERVIEW

Northmarq, as exclusive agent, is proud to offer for sale to qualified investors the opportunity to acquire 500 Route 530, a 14,490 SF single-tenant building located in Whiting, NJ. The property was built to suit and is occupied by Walgreens, who has operated at this location since 2014. The absolute NNN lease creates an ideal passive investment opportunity, requiring minimal involvement from the landlord. Walgreens has a total NOI of $521,697, which is guaranteed by Walgreens Corporate through the remaining 9+ years of firm lease term. Walgreens Boots Alliance (NASDAQ: WBA) is one of the world's leading health and well-being enterprises led by their pharmacy business. Walgreens and Alliance Boots merged in December of 2014, bringing together two of the leading brands and geographic footprints to provide health care services, pharmaceutical wholesaling and community pharmacy care to customers around the world. The company employs over 315,000 people and operates in more than 25 countries, making it the largest retail pharmacy, health and daily living retailer in the USA and Europe. In 2022, the Retail Pharmacy USA segment of Walgreens Boots Alliance reported 2022 Fiscal sales of $134 Billion. Absolute NNN Lease - No Landlord Responsibilities This lease features zero landlord responsibilities, creating a passive armchair investment for a cash flow-driven investor. NNN leases are especially attractive for those seeking management-free investment opportunities.

FOR SALE DETAILS

PRICE

$6,730,000 USD

PRICE/SF

$464 USD /SF

CAP RATE

7.75%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Drug Store

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2015

SPRINKLERS

-

PARKING SPACES

22

LAND DETAILS

LAND ACRES

1.58 AC

LAND SF

68,825 SF

ZONING

4A

APN/PARCEL ID

19-00090-0000-00024-01

ASK ABOUT THIS PROPERTY

Jason MaierNorthmarqMore Info
646-841-0627

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Jason MaierNorthmarqMore Info
646-841-0627

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