Walgreens | 45 Mi NW NYC | Affluent Demos 1131 US Highway 46 14,677 SF Retail Building Ledgewood, NJ 07852 $6,250,000 ($425.84/SF) 9% Cap Rate

We are pleased to market for sale the Walgreens property located at 1131 US Highway 46, Ledgewood, NJ 07852 ("The Property"). Walgreens has been operating at the site for 18 years and has over 7 years of firm term remaining before the 10 (5-year) option periods. Walgreens operates under a absolute triple net lease, which provides for no landlord obligations whatsoever.
The Property enjoys a strategic position 40 miles from downtown Manhattan within a high-income suburban trade area. Within a 3-mile radius, average household incomes exceed $133,000, and the median household income is $125,000, which is about 25% higher than the New Jersey state average.
With many residents in the Ledgewood community commuting into NYC for work/leisure, the Property is situated at the crossroads of US-46 and NJ-10 with close proximity to the Christopher Columbus Highway interchange (I-80), providing access to NYC with over 114,000 vehicles per day.
Located down the street from The Shops At Ledgewood Commons, the Property has more than 2 million square feet of retail space within 1 mile, anchored by Walmart, Home Depot, Petco, Burlington, and Kohl's. Additionally, located less than 4 miles from the property, Saint Clare’s Dover Hospital General is a 24/7 trauma center providing inpatient care, hospitalization services, including medical, surgical, critical/intensive care, and telemetry care.
Listed in conjunction with Brian Brockman, Bang Realty-New Jersey Inc, 513-898-1551, wg@bangrealty.com, NJ DRE Lic. 2078547.