625 Black Horse PikeGloucester Township, NJ 08012

This exceptional investment opportunity presents a 14,820-square-foot Walgreens located at 625 N Black Horse Pike, Gloucester Township, NJ 08012. The property sits on a 2.21-acre lot and boasts a prominent location at the signalized intersection of Black Horse Pike, Blenheim-Erial Road, and Coles Road, experiencing a combined 20,000+ AADT. Excellent visibility from State Route 42 (116,702 AADT) ensures significant local and commuter traffic. This absolute NNN lease with a corporate guarantee provides exceptional security and a 7.75% cap rate on a $5,985,000 asking price, generating a NOI of $463,823. The lease commenced March 16, 2006, and extends to March 31, 2031 – a 25-year term. The property, built in 2006, includes a convenient prescription drive-thru lane. This thriving location benefits from a strong demographic profile, with 194,792 residents within a five-mile radius and an average annual household income exceeding $145,047 within one mile. The area features numerous complementary businesses, including Target, Dick's Sporting Goods, and various restaurants. This is a turnkey investment ideal for a 1031 exchange. The property is a single-tenant building with a Walgreens, CVS Pharmacy as the tenant.