8 Haddon AveHaddon Township, NJ 08108
- Commercial real estate
- 14,230 SF
Property Details for 8 Haddon Ave
- Year built
- 2001
- Lot size
- 1.31 AC
- Property size (Sq ft)
- 14,230 SF
- Property type
- Commercial real estate
- APN
- 16 00020- 16-00025
- APU
- 16000201600025
Description
This exceptional investment opportunity presents a fee-simple, single-tenant Walgreens located at 8 Haddon Ave, Haddon Township, NJ 08108. The 14,368 square foot property sits on a 1.17-acre lot and boasts a strong 6.75% cap rate, generating a net operating income (NOI) of $473,670. The property is currently 100% occupied under an absolute NNN lease with Walgreens, a credit-rated tenant, with 12.9 years remaining on the lease term (expiring September 30, 2037). The lease commenced September 17, 2001, and includes ten 5-year lease options. The asking price is $7,017,000, translating to a price per square foot of $488.38. Built in 2001, this Walgreens consistently ranks in the top 9% of drugstores nationwide for foot traffic and is the highest-trafficked Walgreens within a 5-mile radius. Its prime location, approximately 6 miles east of downtown Philadelphia and near major shopping centers like Garden State Park and Cherry Hill Mall, ensures continued high visibility and customer traffic. This is a truly exceptional net lease investment with minimal management responsibilities and a demonstrably strong tenant commitment, as evidenced by a recent early lease extension. The property is ideal for 1031 exchange purposes.
Valuation
by Paperhouses methods
- Valuation date:
- Dec 11, 2024
-
CAP approach
- CAP return
- Valuation
- 6%
- $4,969,600
- 6.5%
- $4,587,320
- 7%
- $4,259,660
-
Comparable approach
- Method
- Valuation
- Relative Method
- $1,859,290
- Geo Method
- $1,859,290
-
Alternative Use
- Use
- Valuation
- Industrial / Distribution
- $8,732,940
- Retail / Commercial
- $4,536,630
- Mixed-Use / Specialty
- $4,566,500
- Hospitality / Lodging
- $3,410,240
- Office
- $4,587,320
- Institutional / Educational
- $4,763,770
- Residential Income
- $5,573,610
- Multifamily
- $6,429,460
- Automotive / Energy
- $4,083,230
- Parking / Income-Based Land
- $1,363,590
- Restaurant / Food Service
- $2,473,330
- Healthcare / Senior Housing
- $4,635,650
Location Insight
- City
- Haddon Township
- County
- Camden
- State
- New Jersey
- Latitude
- 39.9125
- Longitude
- -75.0564
- 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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