Log In/Sign Up
Your email has been sent.
Walgreens 3221 Bayshore Rd 13,199 SF Retail Building North Cape May, NJ 08204 $3,661,375 ($277.40/SF) 8% Cap Rate
Investment Highlights
- he subject location has over 25 years of drugstore operating history allowing for an established customer base.
- Excellent Demographics with an Average Household Income over $98,000.
- .5 miles N of Pelican Pointe Nursing Center that offers 24-hr Nursing Care, Rehab Therapy, Post Hospital & Surgical Care.
- Positioned on an oversized hard corner parcel along Bayshore Rd.
Executive Summary
LONG TERM COMMITMENT: Walgreens executed a brand new 13 Year lease in 2022
INCREASES THROUGHOUT LEASE TERM: Lease calls for 5% rental increases every 5 years throughout the base term providing a hedge against inflation.
INCREASES THROUGHOUT LEASE TERM: Lease calls for 5% rental increases every 5 years throughout the base term providing a hedge against inflation.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Drug Store
Building Size
13,199 SF
Building Class
B
Year Built
1999
Price
$3,661,375
Price Per SF
$277.40
Cap Rate
8%
NOI
$292,910
Tenancy
Single
Building Height
1 Story
Slab To Slab
15’
Building FAR
0.08
Lot Size
3.59 AC
Zoning
commercial
Parking
75 Spaces (5.68 Spaces per 1,000 SF Leased)
Frontage
Amenities
- Pylon Sign
- Signage
- Drive Thru
Nearby Major Retailers
Property Taxes
| Parcel Number | 05-00495-01-00014 | Improvements Assessment | $1,720,500 |
| Land Assessment | $679,500 | Total Assessment | $2,400,000 |
Property Taxes
Parcel Number
05-00495-01-00014
Land Assessment
$679,500
Improvements Assessment
$1,720,500
Total Assessment
$2,400,000
1 of 6
Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
Presented by
Walgreens | 3221 Bayshore Rd
Already a member? Log In
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.
Your message has been sent!
Activate your LoopNet account now to track properties, get real-time alerts, save time on future inquiries, and more.