33 Munsonhurst RdFranklin, NJ 07416

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

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

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