2904 Route 130
Riverside, NJ 08075
Golden Corral · Retail Property For Sale

CBRE IS PLEASED TO EXCLUSIVELY PRESENT FOR SALE this Golden Corral property located on Route 130 (Burlington Pike) in Delran, New Jersey. Golden Corral signed a new 20 year lease at this location in 2014 and currently has over16 years remaining in its initial lease term and six, five year options to renew. This is a fee simple, NNN lease offering zero landlord responsibilities or expenses for the owner. There are attractive annual 1.5% rental increases throughout the base term of the lease and in each option period to renew. The tenant, Jagdamba V, Inc, is operated, managed and owned by Niral Patel. Niral is a multi-unit Golden Corral operator with 7 locations and actively looking for more. Niral Patel has been involved with Golden Corral since 1999 and is personally guarantying the lease for his Delran, NJ location. Golden Corral is ideally situated on Route 130, a main throughway and retail corridor in Delran. The property sits on a large 2+ acre parcel with excellent visibility for the 49,000+ vehicles traveling by daily. This is an ideal location for Golden Corral, as it is surrounded by numerous national tenants including a 24/7 Walmart, Sam's Club, AutoZone, Advance Auto Parts, Burger King, Target, PetSmart Dollar Tree and Panera Bread to name a few. This is also the only Golden Corral within an 15 mile radius. The subject property is surrounded by dense, affluent and growing demographics. There are 8,468 people and an average household income over $107,000 within 1 mile of the site, and 65,672 people and an average household income over $123,000 within 3 miles and 262,831 people and an average household income over $92,000 within 5 miles. Golden Corral also sits infront of Tenby Chase Apartments and Townhomes with 327 units adding to its built in customer base. This lease offering zero landlord responsibilities, along with annual rental increases, combined with a long-term lease offers the ideal investment for the astute investor.