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2078 US Route 9
Ocean View, NJ 08230
Retail Property For Sale
Investment Highlights
- Investment Grade Credit
- Strong Rental Increases
- Strategic Location
Executive Summary
Equity CRE is pleased to exclusively offer the opportunity to acquire a CVS Pharmacy in Ocean View, New Jersey. This offering features a recently extended 5-year absolute NNN lease with three 5-year renewal options, each with a 6% rental increase. The lease is corporately guaranteed by CVS Health Corporation, an investment-grade tenant with a BBB rating from S&P Global, ensuring stable lease payments and long-term security for property owners.
Situated in Ocean View, NJ, the property benefits from a strategic location just off Exit 20 on the Garden State Parkway, which carries approximately 40,000 vehicles per day and provides connectivity throughout Cape May County and the Jersey Shore. The site benefits from consistent year-round demand from residents, while also experiencing a significant seasonal influx of visitors. Ocean View is located just inland from popular shore destinations, such as Sea Isle, Ocean City, and Avalon.
Situated in Ocean View, NJ, the property benefits from a strategic location just off Exit 20 on the Garden State Parkway, which carries approximately 40,000 vehicles per day and provides connectivity throughout Cape May County and the Jersey Shore. The site benefits from consistent year-round demand from residents, while also experiencing a significant seasonal influx of visitors. Ocean View is located just inland from popular shore destinations, such as Sea Isle, Ocean City, and Avalon.
Property Facts
Sale Type
Investment
Property Type
Retail
Building Size
13,013 SF
Building Class
B
Year Built
2004
Price
$4,653,089
Price Per SF
$357.57
Cap Rate
7%
NOI
$325,716
Tenancy
Single
Building Height
1 Story
Building FAR
0.10
Lot Size
3.10 AC
Zoning
TCC
Frontage
100’ on Route 9 RD
Property Taxes
| Parcel Number | 11-00561-0000-00002 | Improvements Assessment | $1,789,400 |
| Land Assessment | $713,400 | Total Assessment | $2,502,800 |
Property Taxes
Parcel Number
11-00561-0000-00002
Land Assessment
$713,400
Improvements Assessment
$1,789,400
Total Assessment
$2,502,800
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