840 Route 46
Kenvil, NJ 07847
BMW of Roxbury · Retail Property For Sale

CBRE is pleased to exclusively offer for sale a long-term fee simple ground lease on a 5.18-acre property which is developed with a 44,583-square-foot BMW automotive dealership in Roxbury Township, NJ (Population: 23,374). BMW' s absolute NNN ground lease has ±8 years of primary term remaining, and it expires on January 31, 2026. It has five 10-year renewal options with 10% rent increases every five years. The current rent is $332,750, and it increases by 1% on February 1, 2021 to $336,025. The dealership, which is operated as BMW of Roxbury, has an excellent performance history with exceptional revenues (available upon request). The property improvements are valued at well over $10 million and include a 44,583 square foot building with a new car showroom, and a service center including parking and lighting on the balance of the site. The property is conveniently accessible to a very wealthy suburban New York market via Routes 46 and 10 and Interstates 80 and 287, which provide direct access to New York City and its northern New Jersey suburbs. The property is also ideally located with excellent frontage and visibility on Route 46 (Traffic Count: 16,492), just east of its intersection with Route 10 (Traffic Count: 31,980 VPD) and proximate to the primary retail and commercial corridor of Roxbury Township. Other major retailers in the immediate vicinity include Walmart Supercenter, Home Depot, Kohl' s, Petco, ShopRite, Marshalls, Staples, Ashley Furniture, Jo-Ann Fabrics & Crafts, Barnes & Noble, Walgreens, CVS and Verizon, among many others. In all, there are more than 2.7 MSF of retail, 1.2 MSF of office, 3.2 MSF of industrial space and 1,928 multifamily housing units within a 3-mile radius. The dealership also benefits from an affluent infill demographic base with more than 161,000 residents and an average household income in excess of $134,000 within 10 miles.