33 Munsonhurst RdFranklin, NJ 07416

  • Retail properties
  • 3,528 SF
For Sale
$1,989,188 View listing

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.

33 Munsonhurst Rd, Franklin, New Jersey

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

Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2022
$30,148
$335,500
$670,700
$1,006,200
-
$335,500
$670,700
$1,006,200

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