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Off The Charts 167 New Jersey Ave 3,000 SF 100% Leased Office Building Absecon, NJ 08201 $1,180,150 ($393.38/SF) 10% Cap Rate
Investment Highlights
- High-Yielding Investment – Offered at an attractive 10.00% Year 1 in-place cap rate, the property provides investors with strong current cash flow
- Limited Landlord Responsibilities – Structured as a NN lease, the tenant is responsible for real estate taxes, insurance, utilities, maintenance
- Excellent Visibility & Accessibility – The property features dual frontage along New Jersey Avenue and W. Absecon Boulevard (U.S. Route 30)
- Built-In Rental Growth – The lease features 3.00% annual rent escalations, providing predictable income growth, increasing NOI over the lease term
- Established Multi-State Cannabis Operator – The property is leased to Off The Charts, an experienced cannabis retailer with 38+ locations
- Strong New Jersey Cannabis Fundamentals – New Jersey remains one of the strongest cannabis markets on the East Coast
Executive Summary
Broker of Record
Patrick Forde
License # 122887, 2330333 (NJ)
Matthews Real Estate Investment Services, Inc
00 Frank W Burr Blvd, Suite 440 Teaneck, NJ 07666
(866) 889-0550
Patrick Forde
License # 122887, 2330333 (NJ)
Matthews Real Estate Investment Services, Inc
00 Frank W Burr Blvd, Suite 440 Teaneck, NJ 07666
(866) 889-0550
Property Facts
Sale Type
Investment
Property Type
Office
Building Size
3,000 SF
Building Class
C
Year Built/Renovated
1928/2023
Price
$1,180,150
Price Per SF
$393.38
Cap Rate
10%
NOI
$118,015
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Typical Floor Size
1,500 SF
Building FAR
0.19
Lot Size
0.36 AC
Zoning
C1
Parking
11 Spaces (3.67 Spaces per 1,000 SF Leased)
Amenities
- Central Heating
- High Ceilings
- Natural Light
- Drop Ceiling
- Hardwood Floors
- Air Conditioning
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Fairly walkable
50/100
Exceptionally drivable
100/100
Good public transit
60/100
Fairly bikeable
40/100
Property Taxes
| Parcel Number | 01-00213-0000-00004 | Improvements Assessment | $62,000 |
| Land Assessment | $103,000 | Total Assessment | $165,000 |
Property Taxes
Parcel Number
01-00213-0000-00004
Land Assessment
$103,000
Improvements Assessment
$62,000
Total Assessment
$165,000
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Off The Charts | 167 New Jersey Ave
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