33 Munsonhurst RdFranklin, NJ 07416
- Retail properties
- 3,528 SF
Property Details for 33 Munsonhurst Rd
- Year built
- 1900
- Lot size
- 1.11 AC
- Property size (Sq ft)
- 3,528 SF
- Zone code
- HC-2
- Property type
- Retail properties
- Property subtype
- Turn key restaurants
- APN
- 06 02402-0000-00004
- APU
- 602402000000004
Description
This exceptional investment opportunity presents a 3,528 square foot Class B creative office building in Franklin, New Jersey, situated on a 1.11-acre lot. The property is currently 100% occupied under a triple-net (NNN) lease with Ascend Wellness Holdings Inc., a corporate guaranteed tenant, with a remaining lease term of approximately 11.9 years (expiring 09/29/2036). The lease commenced on September 30, 2022, and includes three 5-year renewal options. The annual rent escalates by 3%, providing a hedge against inflation. The property boasts a strong 8.00% cap rate and a Net Operating Income (NOI) of $159,135, with a price per square foot of $563.83. Built in 1900 and renovated in 2022, this single-story building features 38 parking spaces and is zoned HC-1. The property is strategically located at 33 Munsonhurst Rd, Franklin, NJ 07416, offering excellent visibility and proximity to major retailers such as T-Mobile, Dollar Tree, Starbucks, Mattress Firm, Wendy's, and Walmart. This is a mission-critical building for Ascend Wellness Holdings, complementing their nearby larger facility. The property offers a secure, long-term investment with significant upside potential in a growing market.
Location Insight
- City
- Franklin
- County
- Sussex
- State
- New Jersey
- Latitude
- 41.1011
- Longitude
- -74.5794
- CBSA code
- 35620
- CBSA name
- NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
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