625 N Black Horse Pike - Drug Store FOR SALE


Blackwood, NJ 08012
$5,798,000 USD
949-724-5552
625 N Black Horse Pike, Blackwood, NJ for Sale
$5,798,000 USD
Drug Store - FOR SALE
1/6
null | 8% Cap Rate

625 N Black Horse Pike
Blackwood, NJ 08012


HIGHLIGHTS

  • STRONG Store Sales History - Ranked in the Top 25% of Walgreens Stores in the Country
  • Large 2.15 Acre Parcel – 14,820 SF Building with Drive-Thru - Excellent Visibility & Access
  • Absolute NNN Leased Walgreens – Corporate Guarantee – Zero Landlord Responsibilities
  • 6+ Lease Years Remaining on Lease - 75-Year Primary Term - Option to Terminate Beginning in 2031 – 12 Months’ Notice Required
  • Hard-Corner Signalized Intersection – Combined Traffic Count Exceeding 31,700 VPD

OVERVIEW

The Snyder Carlton National Net Lease Team is pleased to offer to investors a great opportunity to acquire the single tenant absolute NNN leased Walgreens in Blackwood, NJ. Walgreens is one of the largest drugstore chains in the U.S. and operates approximately 8,500 Stores in all 50 states, Washington D.C., Puerto Rico and the U.S. Virgin Islands. The 75-year corporate-guaranteed lease has over 6+ lease years remaining in the primary term with zero landlord responsibilities and potential for additional percentage rent. The 14,820 SF standalone building with drive-thru on a large 2.15-acre parcel is strategically positioned on the hard-corner signalized intersection of Black Horse Pike, Almonesson Road, Coles Road and Blenheim-Erial Road, which have a combined traffic count exceeding 31,700 VPD, prospers from excellent visibility and access. Deptford Mall, the DICK’s Sporting Goods and JC Penney anchored super regional mall (1 million SF), is approximately two miles from the subject property and is surrounded by countless national retailers including Target, Walmart Supercenter, Sam’s Club, BJ’s Wholesale Club, Lowe’s Home Improvement, McDonald’s, Chick-fil-A, Raising Cane’s, Chipotle, Starbucks and many more. This is an excellent opportunity to purchase a triple-net-leased corporate Walgreens in a dense infill upscale trade area located in the Philadelphia-Camden-Wilmington MSA (population exceeding 6.2 million).

FOR SALE DETAILS

PRICE

$5,798,000 USD

PRICE/SF

$391 USD /SF

CAP RATE

8%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Walgreens

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Drug Store

ADD'L SUBTYPES

Freestanding

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1984

SPRINKLERS

-

PARKING SPACES

61

LAND DETAILS

CROSS STREETS

Route 168

LAND ACRES

2.15 AC

LAND SF

93,654 SF

ZONING

GB

APN/PARCEL ID

15-10801-0000-00001

ASK ABOUT THIS PROPERTY

Jereme SnyderColliersMore Info
949-724-5552

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Jereme SnyderColliersMore Info
949-724-5552

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