Northern NJ Walgreens Assumable Debt ±12 Yrs 125 Morris Ave Local commercial 1 287 m² À vendre Springfield, NJ 07081 6 579 384 € (5 112,98 €/m²) Taux de capitalisation 8 %

We are pleased to present for sale the Walgreens property located at 125 Morris Ave, Springfield, NJ 07081 (the “Property”). Walgreens operates under an absolute net lease with no landlord responsibilities, providing a truly passive investment structure. The lease runs through July 31, 2038, offering 12 years and 6 months of remaining term.
Constructed in 2013, the Property features Walgreens’ newer prototype design, representing a modern build with high barriers to entry in a supply constrained Northern New Jersey market.
The Property offers a unique opportunity for a qualified investor to assume existing interest-only financing at a below-market fixed rate of 3.50%, with an outstanding loan balance of $5.63 million through maturity on December 1, 2030. This financing structure provides a projected cash-on-cash return of 20.7%.
The property is situated at the intersection of Morris Avenue and Springfield Avenue, a primary retail and commuter corridor in Springfield, New Jersey, with a combined daily traffic count of ±38,100 vehicles. Located in Union County, one of Northern New Jersey’s most established submarkets, the site benefits from strong local demographics, including an average household income of $140,553 within a one-mile radius.