For Sale
$1,000,000

1349 Blackwood-Clementon RdClementon, NJ 08021

High-return auto shop, strong tenant.

Overview

Added:
Dec 11, 2024
Days on market:
116
This fee-simple retail property in Clementon, NJ, offers a compelling investment opportunity. The 2,200 square foot Jiffy Lube, located at 1349 Blackwood-Clementon Rd (APN: 15 20303-0000-00003), sits on a 1.29-acre lot and boasts 12 parking spaces. Built in 1988 and renovated in 2018, the single-story building is zoned GB and benefits from a 10-year absolute net lease (commencing 12/31/2017 and expiring 12/31/2028) with five years remaining. The lease includes two 5-year renewal options, with annual rent increases tied to the greater of CPI or 2.5%, providing inflation protection. The current NOI is $87,693, resulting in an 8.77% cap rate and a price per square foot of $454.55. The property enjoys 100% occupancy and benefits from its strategic location near Route 42, connecting Atlantic City and Philadelphia, and close proximity to Camden County College. The surrounding area shows strong demographics, with average household incomes within 3 and 5 miles exceeding $88,416 and $96,755 annually. This Jiffy Lube location has operated successfully for nearly 30 years, demonstrating long-term viability and consistent performance. The asking price is $1,000,000.

Highlights

  • 5+ years remaining on an absolute net lease with Team Car Care Group (550+ units).
  • Leased to the largest Jiffy Lube operator in the country (formerly Heartland Automotive).
  • Annual rent increases tied to the greater of CPI or 2.5%, providing inflation protection.
  • 9.10% average return on investment over the remaining lease term at the asking price.
  • Jiffy Lube location has operated successfully for nearly 30 years.
  • Strong demographics: Average household incomes within 3 and 5 miles exceed $88,416 and $96,755 annually.

Property Details for 1349 Blackwood-Clementon Rd

Property type
Retail properties, Auto shops
Square Feet
2,200 SF
Year Built/Renovated
1988/2018
Buildings
1
Stories
1
Lot Size (sq. ft)
56,192 SF

Location Insight

City
Clementon
County
Camden
State
New Jersey
Latitude
39.804112
Longitude
-75.0331099
1349 Blackwood-Clementon Rd, Clementon, New Jersey

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1349 Blackwood-Clementon Rd
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