671 Memorial Pky - Convenience Store FOR SALE


Phillipsburg, NJ 08865
$4,867,000 USD
510-289-1166
671 Memorial Pky, Phillipsburg, NJ for Sale
$4,867,000 USD
Convenience Store - FOR SALE
1/2
null | 5.65% Cap Rate

671 Memorial Pky
Phillipsburg, NJ 08865


HIGHLIGHTS

  • Brand New 20 Year Absolute NNN Ground Lease with Scheduled 8% Rental Escalations
  • No Landlord Maintenance Responsibilities
  • Average Household Income of $109,147 within 5 Mile Radius
  • Nearby Anchor Tenants include Target, Walmart Supercenter, ALDI, Stop & Shop, and More
  • On the “Going to Work” Side of U.S. Route 22 for Commuters Working in Easton and Allentown
  • Prominent Retail Location Along Memorial Parkway (51,141 AADT) - Phillipsburg’s Main Thoroughfare Linking City to Allentown

OVERVIEW

The subject property is prominently located with excellent access and visibility along Memorial Parkway (51,141 AADT), Phillipsburg’s main arterial linking the city to Allentown. The site benefits from robust demographics with a population of 113,416 and average household income of $109,147 within a 5 mile radius. The site benefits from a strategic location in close proximity to shopping centers, major employers, and retail tenants. Nearby retail centers include Greenwich Shopping Center, anchored by Target (1 million annual visits per Placer.ai) & Lowe’s (557,100 annual visits); Pohatcong Plaza, anchored by Marshalls (315,300 annual visits), Stop & Shop (559,800 annual visits), & Hobby Lobby (257,100 annual visits); St Luke’s Hillcrest Plaza (729,100 annual visits), a mixed-use medical and retail center; and more. Other major retail tenants in the surrounding area include Walmart Supercenter (2.7 million annual visits), ALDI (373,600 annual visits), CVS (249,400 annual visits), Rite Aid (171,400 annual visits) and more. Major employers in the surrounding area include St. Luke’s Hospital, Amazon Distribution, and Bridge Industrial. This property is listed in Association with Scott Reid & ParaSell, Inc. | A Licensed New Jersey Real Estate Brokerage #1974375. Fisher James Capital is not a New Jersey licensed real estate broker. Residents and property owners of New Jersey should contact ParaSell, Inc. for more information.

FOR SALE DETAILS

PRICE

$4,867,000 USD

PRICE/SF

$858 USD /SF

CAP RATE

5.65%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

ON GROUND LEASE

Yes

BUILDING DETAILS

PROPERTY NAME

QuickChek Ground Lease

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Convenience Store

ADD'L SUBTYPES

Freestanding

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2024

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

1.86 AC

LAND SF

81,022 SF

ZONING

B-2

APN/PARCEL ID

-

ASK ABOUT THIS PROPERTY

Putnam DailyFisher James CapitalMore Info
510-289-1166

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Putnam DailyFisher James CapitalMore Info
510-289-1166

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