33 Nj-27Edison, NJ 08820

Property Details for 33 Nj-27

Year built

1997

Lot size

0.49 AC

Property size (Sq ft)

2,900 SF

Property type

Retail properties

Property subtype

Other retail properties

Description

This exceptional Class A retail property, located at 33 Route 27 in Edison, NJ, offers a compelling investment opportunity. The 2,900 square foot building, constructed in 1997 and renovated in 2022, sits on a 0.49-acre lot zoned GB. Currently, it features a partially leased space, with InFocus Urgent Care occupying 1,672 square feet. An additional 1,228 square feet, including a drive-thru, is available for lease, presenting significant upside potential. The property boasts a strong pro-forma NOI of $180,000 and a pro-forma cap rate of 4.93%. The current lease with InFocus Urgent Care is a NNN lease with a franchisee tenant, running for 10 years commencing May 1, 2022, with two five-year options. The property's prime location near major retailers such as McDonald's, Starbucks, and Menlo Park Mall, ensures high visibility and traffic. The building is a single-story structure with excellent access from a traffic-controlled intersection. This fee-simple ownership opportunity is ideal for a 1031 exchange. The asking price is $3,650,000, translating to $1,258.62 per square foot. The property is currently 58% occupied, with full occupancy expected by July 25, 2024.

Location Insight

City

Edison

County

Middlesex

State

New Jersey

Latitude

40.5562

Longitude

-74.3444

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