2353 Us-9Toms River, NJ 08755

Property Details for 2353 Us-9

Year built

2006

Lot size

1.87 AC

Property size (Sq ft)

14,820 SF

Property type

Retail properties

Property subtype

Drug stores

Description

This exceptional investment opportunity presents a 14,820-square-foot, Class A retail property in Toms River, New Jersey. The property, built in 2006, is situated on a 1.87-acre lot at 2353 US-9, a high-traffic location with excellent visibility. The property boasts an absolute NNN lease with a credit-rated, corporate-guaranteed tenant, Walgreens Boots Alliance (NYSE: WBA), providing significant financial stability. The lease has a remaining term of 6.8 years, expiring August 31, 2031. The asking price is $5,808,000, representing a price per square foot of $391.90 and a 6.25% cap rate with a net operating income (NOI) of $363,000. The property benefits from its strategic location on Route 9 and its proximity to major roadways, including the Garden State Parkway (less than 4 miles away), and high-traffic intersections with Route 70. The surrounding area features a dense population (197,000 within a 5-mile radius) with a high average household income exceeding $77,000. Nearby businesses include McDonald's, Wells Fargo Bank, Stop & Shop, Starbucks, Santander Bank, TD Bank, and a Ramada by Wyndham Hotel, further enhancing the property's desirability and potential for continued success. This is a rare opportunity to acquire a high-performing, net-leased retail asset with a strong tenant and significant remaining lease term.

Location Insight

City

Toms River

County

Ocean

State

New Jersey

Latitude

40.044

Longitude

-74.2215

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