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Walgreens 2546 Hooper Ave 14,550 SF Retail Building Brick, NJ 08723 $5,221,000 ($358.83/SF) 8% Cap Rate
INVESTMENT HIGHLIGHTS
- Strong Performing Store & Historical Sales – Call for Details
- Upscale Trade Area - Jersey Shore - Waterfront Communities of Shore Acres and Baywood
- Hard Corner Signalized Intersection of Drum Point Road & Hooper Avenue – Over 39,600 VPD
- New 10.5 Year Extended Lease Term Remaining
- Single Tenant Absolute NNN Walgreens – Corporate Guarantee
- 14,550 SF Building with Drive-Thru on Large 2.8 Acre Parcel
EXECUTIVE SUMMARY
The Walgreens in Brick, New Jersey offers investors the opportunity to acquire a long-term, net-leased asset backed by one of the nation’s most established pharmacy and health-retail operators. The property is positioned along one of Brick Township’s primary retail corridors, surrounded by major national retailers such as Walmart, Home Depot and Trader Joes, ensuring strong consumer draw and consistent daily traffic. Walgreens benefits from excellent visibility and convenient site access and provides investors with predictable income, no landlord responsibilities, and strong locational attributes, with high-visibility, hard corner positioning.
The lease generates an annual rent of $417,718, backed by Walgreens’ investment-grade corporate guarantee (S&P BBB). Situated within a mature, high-income suburban trade area, the asset offers a secure, passive investment underpinned by strong market fundamentals and a durable national credit tenant.
The lease generates an annual rent of $417,718, backed by Walgreens’ investment-grade corporate guarantee (S&P BBB). Situated within a mature, high-income suburban trade area, the asset offers a secure, passive investment underpinned by strong market fundamentals and a durable national credit tenant.
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Drug Store
Building Size
14,550 SF
Building Class
B
Year Built
2005
Price
$5,221,000
Price Per SF
$358.83
Cap Rate
8%
NOI
$417,719
Tenancy
Single
Building Height
1 Story
Building FAR
0.12
Lot Size
2.84 AC
Zoning
VZ
Parking
49 Spaces (3.37 Spaces per 1,000 SF Leased)
Frontage
AMENITIES
- Corner Lot
- Pylon Sign
- Signage
- Signalized Intersection
- Drive Thru
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 07-00548-02-00026 | Improvements Assessment | $2,871,500 |
| Land Assessment | $770,000 | Total Assessment | $3,641,500 |
PROPERTY TAXES
Parcel Number
07-00548-02-00026
Land Assessment
$770,000
Improvements Assessment
$2,871,500
Total Assessment
$3,641,500
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Walgreens | 2546 Hooper Ave
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