For Sale
$7,017,000

8 Haddon AveHaddon Township, NJ 08108

High-traffic Walgreens, strong lease, excellent ROI.

Overview

Added:
Dec 11, 2024
Days on market:
117
This exceptional investment opportunity presents a fee-simple, single-tenant Walgreens located at 8 Haddon Ave, Haddon Township, NJ 08108. The 14,368 square foot property sits on a 1.17-acre lot and boasts a strong 6.75% cap rate, generating a net operating income (NOI) of $473,670. The property is currently 100% occupied under an absolute NNN lease with Walgreens, a credit-rated tenant, with 12.9 years remaining on the lease term (expiring September 30, 2037). The lease commenced September 17, 2001, and includes ten 5-year lease options. The asking price is $7,017,000, translating to a price per square foot of $488.38. Built in 2001, this Walgreens consistently ranks in the top 9% of drugstores nationwide for foot traffic and is the highest-trafficked Walgreens within a 5-mile radius. Its prime location, approximately 6 miles east of downtown Philadelphia and near major shopping centers like Garden State Park and Cherry Hill Mall, ensures continued high visibility and customer traffic. This is a truly exceptional net lease investment with minimal management responsibilities and a demonstrably strong tenant commitment, as evidenced by a recent early lease extension. The property is ideal for 1031 exchange purposes.

Highlights

  • Fee-simple, single-tenant Walgreens; 14,368 SF on 1.17 acres; Haddon Township, NJ.
  • Strong 6.75% cap rate, $473,670 NOI; $7,017,000 asking price ($488.38/SF).
  • Absolute NNN lease, 12.9 years remaining (expires 9/30/2037); tenant recently extended lease early.
  • Top 9% of Walgreens nationwide for foot traffic; highest-trafficked within a 5-mile radius.
  • Located 6 miles east of Philadelphia, near Garden State Park and Cherry Hill Mall.

Property Details for 8 Haddon Ave

Property type
Retail properties, Drug stores
Square Feet
14,368 SF
Year Built
2001
Lot Size (sq. ft)
50,965 SF

Location Insight

City
Haddon Township
County
Camden
State
New Jersey
Latitude
39.912718377125
Longitude
-75.056049205365
8 Haddon Ave, Haddon Township, New Jersey

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8 Haddon Ave
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