310 Egg Hbr RdWashington Township, NJ 08080

Property Details for 310 Egg Hbr Rd

Year built

2000

Construction

METAL FRAME

Lot size

0.94 AC

Property size (Sq ft)

4,124 SF

Zone code

PR1

Property type

Office properties

Property subtype

Office buildings

APN

18 00194- 30-00004

APU

18001943000004

Description

This 4,100 sq ft single-tenant pharmacy in Washington Township, NJ, offers a compelling value-add investment opportunity. Located at 310 Egg Harbor Rd, the property boasts a 100% occupancy rate with a corporate-guaranteed lease from Clearway Pain Solutions, the parent company of Relievus, a tenant with over 20 years of successful operation at this location. The recently extended 5-year lease includes a 3% annual rent increase, ensuring consistent income growth. The property generates a strong NOI of $67,962, resulting in a 6.93% cap rate, and is priced at $980,000 ($239.02/sq ft). Situated in the affluent Sewell area, the property benefits from high traffic counts on nearby major roadways (Atlantic City Expressway and Route 55), proximity to Jefferson Washington Township Hospital (undergoing a $222 million revitalization), and a strong demographic profile with an average household income exceeding $147,000 within a 3-mile radius. The property includes ample parking (5.35 spaces per 1,000 sq ft) and is strategically positioned near Rowan University and Gloucester Premium Outlets, further enhancing its investment appeal. Built in 2000, this well-maintained building presents a stable and lucrative investment opportunity with significant upside potential. The property's location within a thriving medical hub, coupled with the long-term lease and strong tenant, makes it an attractive addition to any portfolio. The 6 years remaining on the lease provide long-term stability and predictable cash flow.

• CAP approach

  CAP return

  Valuation

  6%

  $1,301,363

  6.5%

  $1,201,258

  7%

  $1,115,454

• Comparable approach

  Method

  Valuation

  Relative Method

  $538,842

  Geo Method

  $538,842

• Alternative Use

  Use

  Valuation

  Residential

  $1,489,560

  Hospitality

  $1,364,429

  Educational

  $1,135,189

  Medical

  $1,174,230

  Retail

  $1,765,850

Location Insight

City

Sewell

County

Gloucester

State

New Jersey

Latitude

39.7642

Longitude

-75.085

CBSA code

37980

CBSA name

PHILADELPHIA-CAMDEN-WILMINGTON, PA-NJ-DE-MD METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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