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- LoopNet Team
462 Elizabeth Ave
Somerset, NJ 08873
CVS with 15 years and a Bond NNN Lease · Retail Property For Sale
INVESTMENT HIGHLIGHTS
- 15 Years remaining on Absolute NNN Bond lease
- 30 Miles southwest of New York City
- Affluent Demographic Profile
- Corporate Guarantee with CVS Pharmacy
- Investment Grade Tenant (BBB+) and Fortune 500 Company
- NPV of Last Three Year Rent Pre-Paid at Closing
PROPERTY FACTS
AMENITIES
- Corner Lot
- Signalized Intersection
- Drive Thru
ABOUT 462 ELIZABETH AVE , SOMERSET, NJ 08873
HMX Realty Advisors exclusively lists for sale, in cooperation with Colliers International, a CVS Pharmacy located in the wealthiest county in New Jersey by per capita income. There are 15 years remaining on a bond absolute triple net lease with no landlord responsibilities whatsoever. The last three years of the lease is prepaid at closing making the day one yield to the investor 6%. Located at the signalized intersection of Elizabeth Avenue & School House Road in Somerset, New Jersey the property enjoys excellent visibility and traffic counts. Retailers in the immediate vicinity include Shop Rite, PetSmart, Rite Aid, Dollar Tree, Chase Bank, Wells Fargo, UPS, Subway, and Dunkin Donuts. There are currently over 163,000 residents within five miles of the property with an average household income of $118,239.
PROPERTY TAXES
| Parcel Number | 08-00521-02-00005-05 | Improvements Assessment | $6,000,000 |
| Land Assessment | $1,400,000 | Total Assessment | $7,400,000 |
PROPERTY TAXES
