Walgreens

140 Ferry Street, Newark, NJ
Deal Type:
Net Lease
Price:
$4,590,000
Cap Rate:
5.00%
Current Rent:
$229,500
Lease Type:
Triple Net
Lease Term:
15 years
Landlord Responsibilities:
None
Renewal Options:
12, 5-Year
Building Sq. Ft.:
6,750 SF
Rent Increases:
5% Every 5 Years
Site Size:
7,484 SF
  • walgreens stream capital partners
  • walgreens stream capital partners
  • walgreens stream capital partners
  • walgreens stream capital partners
  • walgreens stream capital partners

Investment Highlights

  • Commitment: Brand new 15-year lease with 5% rental escalations throughout the initial term and options
  • Location: Asset situated on a signalized hard corner intersection on Ferry Street and Monroe street with over 14,000 vehicles per day
  • Landlord Responsibilities: Allows for a true passive investment with no management required
  • Tax Benefits: Investors can depreciate land and building due to fee simple ownership
  • Demographics: Over 261,000 residents and average household incomes of $67,700+ within a 3-mile radius
  • Credit: Opportunity to acquire an investment grade (S&P: BBB) asset in Newark, New Jersey

Listing Agents

Jordan Shtulman

Managing Principal
847 226 4133
Jordan@stream-cp.com

Mike Antonoplos, Lic #NJ-MJA-8132327

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