144 Nj-17Mahwah, NJ 07430

Property Details for 144 Nj-17

Year built

1989

Lot size

0.76 AC

Property size (Sq ft)

428 SF

Property type

Retail properties

Property subtype

Other retail properties

Description

This exceptional investment opportunity presents a 428-square-foot BP gas station and convenience store located at 144 NJ-17 in Mahwah, New Jersey, 07430. The property sits on a 0.76-acre lot with 32 parking spaces and benefits from a corporately guaranteed absolute NNN ground lease with a remaining term of 6.9 years, expiring September 30, 2031. The lease commenced September 1, 2016, and includes 10% rent increases every five years, along with 4-5 year renewal options. The property boasts a strong net operating income (NOI) of $215,600, resulting in a 6.00% cap rate. Built in 1989 and renovated in 2019, this asset offers minimal landlord responsibilities. The location is highly desirable, situated along Route 17 South, a major thoroughfare with over 78,000 vehicles daily, and near the I-287/I-87 interchange (over 107,000 vehicles daily). The area features excellent demographics, with average household incomes exceeding $127,000 within a one-mile radius, and is surrounded by numerous national retailers including McDonald's, Starbucks, Home Depot, Boston Market, Chick-fil-A, Pep Boys, Advance Auto Parts, Dunkin', FedEx, CVS, Dairy Queen, 7-Eleven, and ACME. The asking price is $3,593,000. This is a rare opportunity to acquire a stable, high-performing investment with a strong tenant and significant upside potential.

Location Insight

City

Mahwah

County

Bergen

State

New Jersey

Latitude

41.098

Longitude

-74.1609

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