Shop – New Jersey, USA

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Shop – New Jersey, USA

$5,217,000
$3,745 /m²
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  • Total area
    1,393 m²
  • Yield
    5.75%
  • Built in 
    2017
Details
Property parameters
  • Land area: 5,867 m²
  • 1-floor building
Financial performance
  • Annual income: $262,110
Tenants
  • Fully let

Charity second-hand store.

Description

The building of 1393.5 m².

Financial performance

Cost of the facility is 5,217,391 $.

Absolute annual income is 300,000 $.

Current yield of 5,75%.

Tenants

NN lease — The tenant pays taxes and insurance.

3 and 5-year lease extending option with 15% rent escalations. The contract is concluded for 15 years.

About tenant:

  • massive network of retail charity shops which operates as nonprofits as well.
  • operates in South Korea, Venezuela, Brazil, Mexico, Panama, Uruguay, the United States, Canada, and 8 other countries
  • 162 local points in the United States and Canada

Location and nearby infrastructure

The property is located in New Jersey state in an area with over 233 thousand residents within 8 km of subject property with average household income exceeding 112,000 $. Over 3% projected 8 km population growth by 2020.

New Jersey is a state in the Mid-Atlantic region of the Northeastern United States. It is a peninsula, bordered on the north and east by the state of New York. New Jersey is the 11th-most populous state, with 9 million residents, the most densely populated of the 50 U. S. states and third-wealthiest state by median household income. The territory of the state belongs to the urban agglomerations of New York and Philadelphia.

There is a restaurant, a pizzeria, a grocery store, a gas station and a mini market in the immediate vicinity.

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