97-113 President St
Passaic, NJ 07055
Retail Property For Sale

Pharma Property Group has been retained as exclusive agent and is pleased to offer investors the opportunity to acquire a Walgreens in Passaic, NJ in the New York MSA. This drive-thru pharmacy has approximately 2.6 years left on the initial lease term with eight (5-year) options to follow. Next option begins January 1,2021. This location is on an outparcel of a ±117,827 square foot Home Depot and is also within a block of a K-Mart anchored center. This Walgreens is located only 16 miles from lower Manhattan and 7 miles from the Meadowlands. It has strong infill demographics sales of nearly 700,000 residents within a five-mile radius with an average household income of $83,000 annually. The subject property is located adjacent to Passaic Industrial Center, a 1.64 million square foot facility on 30.86 acres with 41 buildings, home to a variety of industrial tenants. Located less than a mile and a half away lies the St. Mary’s General Hospital, an acute care hospital with 287 beds, over 550 physicians and 1,200 employees. Passaic is a city in Passaic County in northern New Jersey and is the 15th largest municipality in New Jersey. It is the 10th most densely populated municipality in the entire United States with ±22,000 people per square mile.