1425 Us-46Roxbury Township, NJ 07852

Property Details for 1425 Us-46

Year built

2023

Lot size

0.61 AC

Property size (Sq ft)

6,412 SF

Property type

Specialty properties

Property subtype

Car washes

Description

This exceptional investment opportunity presents a 6,412 square foot, 100% occupied car wash in Roxbury Township, NJ. Boasting a 21-year NNN lease (commencing April 15, 2023, and expiring April 15, 2044), this property offers a substantial 19.4 years of remaining lease term with zero landlord responsibilities. The property features a corporate guarantee and a 7.00% cap rate, generating a strong NOI of $457,780. Situated on a 0.61-acre lot at 1425 US-46, this high-exposure location benefits from significant daily traffic on Route 46 and Interstate 80 (45,300 and 92,500 vehicles respectively). The car wash enjoys a prime location near The Shops at Ledgewood Commons, an area anchored by major retailers including Walmart, Home Depot, Kohl's, and more, ensuring a substantial customer base. The lease includes a 2.00% annual rental increase, further enhancing the investment's long-term value. Built in 2023, this car wash set a single-day record for washes upon opening, demonstrating exceptional market demand. The affluent surrounding area boasts an average household income exceeding $142,000, providing a strong and stable consumer base. This is a rare opportunity to acquire a high-performing, long-term NNN leased car wash in a prime New Jersey location. The asking price is $6,539,714.

Location Insight

City

Roxbury Township

County

Morris

State

New Jersey

Latitude

40.8868

Longitude

-74.6597

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