For Sale
$2,676,118

640 Creek RdBellmawr, NJ 08031

High-yield, NNN-leased pharmacy

Overview

Added:
Dec 11, 2024
Days on market:
119
This exceptional investment opportunity presents a fee-simple, 13,005-square-foot retail pharmacy in Bellmawr, New Jersey. Located at 640 Creek Rd, 08031, this property boasts a strong 7.22% cap rate and a substantial net operating income (NOI) of $203,384. The property is currently 100% occupied under a 10-year absolute NNN lease with Curaleaf, a major national operator, providing a corporate guarantee. The lease commenced August 29, 2019, and expires August 31, 2029, with 4.8 years remaining. Annual rent bumps of 3% offer inflation protection. The lease includes two 5-year renewal options, exercisable simultaneously with other properties in a five-unit portfolio. This is a passive investment opportunity with zero landlord responsibilities. The asking price is $2,676,118 ($205.78/sq ft), and the 0.61-acre lot is situated in Camden County. This property is part of a larger portfolio, but can be purchased individually. The lease is a master lease with a common thread-defined term provision for renewal options.

Highlights

  • $2,676,118 asking price for a 13,005 SF retail property in Bellmawr, NJ.
  • Absolute NNN lease with a corporate guarantee from Curaleaf, a major national operator.
  • 10-year lease (4.8 years remaining) with 2 x 5-year renewal options; 3% annual rent increases.
  • 7.22% cap rate and $203,384 NOI.
  • 100% occupancy.

Property Details for 640 Creek Rd

Property type
Retail properties, Retail space
Square Feet
13,005 SF
Lot Size (sq. ft)
26,572 SF

Location Insight

City
Bellmawr
County
Camden
State
New Jersey
Latitude
39.8650363
Longitude
-75.10313
640 Creek Rd, Bellmawr, New Jersey

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640 Creek Rd
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