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3008 State Route 35 5,585 SF Retail Building Hazlet, NJ 07730 $6,190,476 ($1,108.41/SF) 5.25% Cap Rate
INVESTMENT HIGHLIGHTS
- The Property fronts Route 35 which sees over 42,000 vehicles per day.
- Many of the biggest names in retail have a presence on this stretch of Route 35.
- Less than two miles from the Garden State Parkway and Route 36
EXECUTIVE SUMMARY
NEW CONSTRUCTION
19+ years remaining on the initial lease term. A 5,585 SF convenience store with eight fueling stations, open 24 hours, 7 days per week.
OUTPARCEL OF HAZLET TOWN CENTER
A newly re-developed 196,000 SF shopping center anchored by ALDI, Burlington and Planet Fitness. Other tenants include Bank of America, UPS, Panera Bread and more.
RETAIL DESTINATION
Many of the biggest names in retail have a presence on this stretch of Route 35. National brands include Costco, ShopRite, The Home Depot, Lowe’s Home Improvement, Starbucks, Harbor Freight, Chick-fil-A, Chase Bank and more.
HIGH TRAFFIC LOCATION
The Property fronts Route 35 which sees over 42,000 vehicles per day. Less than two miles from the Garden State Parkway (Exit 117, 158,000 VPD) and Route 36 (40,000 VPD).
PREMIER ACCESS
300 feet from the traffic light intersection and U-turn at Poole Avenue.
TROPHY TENANT
Wawa (Fitch: BBB) is the 22nd largest private company with 1,100+ locations and $18.8B in revenue per Forbes’ 2024 Top Private Companies. This represents 71% revenue growth over three years.
2% CO-BROKER FEE AVAILABLE
10% Rent Bumps Every 5 Years
19+ years remaining on the initial lease term. A 5,585 SF convenience store with eight fueling stations, open 24 hours, 7 days per week.
OUTPARCEL OF HAZLET TOWN CENTER
A newly re-developed 196,000 SF shopping center anchored by ALDI, Burlington and Planet Fitness. Other tenants include Bank of America, UPS, Panera Bread and more.
RETAIL DESTINATION
Many of the biggest names in retail have a presence on this stretch of Route 35. National brands include Costco, ShopRite, The Home Depot, Lowe’s Home Improvement, Starbucks, Harbor Freight, Chick-fil-A, Chase Bank and more.
HIGH TRAFFIC LOCATION
The Property fronts Route 35 which sees over 42,000 vehicles per day. Less than two miles from the Garden State Parkway (Exit 117, 158,000 VPD) and Route 36 (40,000 VPD).
PREMIER ACCESS
300 feet from the traffic light intersection and U-turn at Poole Avenue.
TROPHY TENANT
Wawa (Fitch: BBB) is the 22nd largest private company with 1,100+ locations and $18.8B in revenue per Forbes’ 2024 Top Private Companies. This represents 71% revenue growth over three years.
2% CO-BROKER FEE AVAILABLE
10% Rent Bumps Every 5 Years
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Convenience Store
Building Size
5,585 SF
Building Class
B
Year Built
2024
Price
$6,190,476
Price Per SF
$1,108.41
Cap Rate
5.25%
NOI
$325,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.08
Lot Size
1.54 AC
Zoning
BH
Parking
50 Spaces (8.95 Spaces per 1,000 SF Leased)
Frontage
177’ on New Jersey 35
Walk Score®
Very Walkable (73)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 18-00239-0000-00001 | Improvements Assessment | $13,140,000 |
| Land Assessment | $12,177,800 | Total Assessment | $25,317,800 |
PROPERTY TAXES
Parcel Number
18-00239-0000-00001
Land Assessment
$12,177,800
Improvements Assessment
$13,140,000
Total Assessment
$25,317,800
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3008 State Route 35
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