18 Virginia Ave Penns Grove, NJ 08069

This exceptional investment opportunity presents a 27,000-square-foot, single-tenant, Class B refrigerated/cold storage facility located at 18 N Virginia Ave, Penns Grove, NJ 08069. The property, fully renovated in 2023, boasts a 100% occupancy rate with a credit-rated tenant under a triple-net (NNN) lease. The building features three loading docks (three dock-high doors), 16-19 foot ceiling heights, and a modern design incorporating a commercial kitchen, freezer space, cold storage space, and dry storage space, along with approximately 800 square feet of office space. Recent upgrades include a new reflective roof, HVAC systems, electrical systems, LED lighting, and restrooms/lockers. The property is zoned H-C/I (Highway Commercial/Industrial) and benefits from its strategic location in southern New Jersey, providing easy access to major roadways including Route 130, Route 295, the NJ Turnpike, Philadelphia, and Delaware. The asking price is $3,750,000, representing a compelling 8.00% cap rate. Rent bumps are included in the lease agreement. This sale-leaseback opportunity offers a strong return on investment with a stable, credit-rated tenant. The property is currently used as a food processing, manufacturing, and distribution facility.