625 Black Horse PikeGloucester Township, NJ 08012
- Other commercial real estate
- 1.83 AC
Property Details for 625 Black Horse Pike
- Year built
- 1984
- Lot size
- 1.83 AC
- Zone code
- GB
- Property type
- Other commercial real estate
- APN
- 15 10801-0000-00001
- APU
- 1510801000000001
Description
This exceptional investment opportunity presents a 14,820-square-foot Walgreens located at 625 N Black Horse Pike, Gloucester Township, NJ 08012. The property sits on a 2.21-acre lot and boasts a prominent location at the signalized intersection of Black Horse Pike, Blenheim-Erial Road, and Coles Road, experiencing a combined 20,000+ AADT. Excellent visibility from State Route 42 (116,702 AADT) ensures significant local and commuter traffic. This absolute NNN lease with a corporate guarantee provides exceptional security and a 7.75% cap rate on a $5,985,000 asking price, generating a NOI of $463,823. The lease commenced March 16, 2006, and extends to March 31, 2031 – a 25-year term. The property, built in 2006, includes a convenient prescription drive-thru lane. This thriving location benefits from a strong demographic profile, with 194,792 residents within a five-mile radius and an average annual household income exceeding $145,047 within one mile. The area features numerous complementary businesses, including Target, Dick's Sporting Goods, and various restaurants. This is a turnkey investment ideal for a 1031 exchange. The property is a single-tenant building with a Walgreens, CVS Pharmacy as the tenant.
Valuation
by Paperhouses methods
- Valuation date:
- Dec 11, 2024
-
Alternative Use
- Use
- Valuation
- Residential
- $26,353,860
- Hospitality
- $24,139,994
- Educational
- $20,084,192
- Medical
- $20,774,918
- Retail
- $31,242,076
Location Insight
- City
- Blackwood
- County
- Camden
- State
- New Jersey
- Latitude
- 39.8108
- Longitude
- -75.0681
- CBSA code
- 37980
- CBSA name
- PHILADELPHIA-CAMDEN-WILMINGTON, PA-NJ-DE-MD METROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
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