1505 John F. Kennedy Blvd
Jersey City, NJ 07305
BP Gas/Convenience · Retail Property For Sale

CBRE is pleased to exclusively present for sale this BP Gas/Convenience property situated at the signalized corner of Kennedy Boulevard and W 63rd Street in Jersey City, NJ, part of the New York City MSA. This is a new NNN ground lease with no landlord responsibilities or expenses. There are over 9 years remaining in the initial 10 year lease, with attractive 2% annual increases in the base term of the lease and in each of the two, ten year options to renew. This lease has a rare corporate guarantee by BP, an investment grade credit tenant rated A- by Standard & Poor's. The property is located within the highly sought after New York City MSA, located just 6 miles from downtown New York and immediately off of intestate 78. BP sits on a .43 acre parcel with a 2,500 square foot convenience store, and 8 gas pumps at the corner of Kennedy Boulevard and W 63rd Street with combined traffic counts over 17,000 vehicles per day with another 73,000 passing on nearby I-78. The property has excellent visibility and three points of access. This is an extremely dense area with over 45,000 people within 1 mile of the subject property, over 187,000 people within 3 miles, and over 573,000 people within 5 miles. The area has also seen strong population growth over the last 5 years in the 1, 3 and 5 mile rings which is expected to continue through 2021. Surrounding tenants include McDonald’s, Dunkin Donuts, Family Dollar, Enterprise, Rent-A-Center and Pizza Hut to name a few. Jersey City is the second-most-populous city in the state of New Jersey, after Newark.