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11842263
11842264

310 Egg Harbor Rd, Washington Township, NJ 08080

MSC Retail
MSC Retail
Listed by MSC Retail
$1,080,000
1059 days on market
Updated 72 days ago

Relievus

Details
Property Type Retail
Sub Type Pharmacy/Drug
Square Footage 4,100
Units 1
Cap Rate 7.04%
NOI $76,000
Occupancy 100%
Tenancy Single
Rent Bumps Yes
Price per SqFt $263
Year Built 2000
Buildings 1
Parking Spaces 5.35 per 1,000 sq ft
Investment Type Value Add
Tenant Credit Corporate Guarantee
Ground Lease No

Single Tenant Relievus | Medical Building Southern New Jersey

Marketing description

  • Single tenant, freestanding Relievus pain management tenant located at the intersection of Egg Harbor Road (18,639 vehicles per day) and Hurffville Road (8,881 vehicles per day) in Sewell, NJ.

  • The lease is fully guaranteed by Clearway Pain Solutions, the parent company of Relievus, which operates over 70+ locations. Relievus has been successfully operating at this location for over 20 years and recently extended their lease for an additional 5 years.

  • There are currently 6 years remaining on the lease agreement which includes annual rent escalations of 3%.

  • The site is conveniently located just 2 miles away from Jefferson Washington Township Hospital, a private bed facility with over 180 beds. The hospital is undergoing a $222 million campus revitalization, and it is currently in its final phase of development.

  • The surrounding area boasts a strong affluent demographic profile, with over 57,000 residents with an average household income of $147,000 residing within a 3-mile radius

  • The property is strategically positioned between the Atlantic City Expressway (74,223 vehicles per day) and Route 55 (64,143 vehicles per day). These well-connected road networks provide convenient access between Southern New Jersey and Philadelphia.

Investment highlights

The exclusive opportunity to acquire the single tenant Relievus property in Sewell, Gloucester County, New Jersey leased by Relievus is proudly presented by MSC. Relievus has been the occupant of the property for over 20 years and recently signed a 5-year lease extension. The lease is corporately guaranteed by Clearway Pain Solutions, the parent company that acquired Relievus in the summer of 2022. Clearway Pain Solutions is a leading provider in pain management, operating over 70 locations in 6 states. Conveniently located at 310 Egg Harbor Road, the property sits in the heart of Sewell, NJ, directly adjacent to Washington Township. Sewell is a highly affluent suburb in Southern New Jersey, boasting an average household income of $147,000 within a 3-mile radius. It is equidistant between the Atlantic City Expressway (74,223 vehicles per day) and Route 55 (64,143 vehicles per day), both of which connect Philadelphia with the rest of southern New Jersey. Within a two mile radius of the property, residents have access to Jefferson Washington Township Hospital, a private bed facility with 180+ beds. The hospital is currently in the final phase of a $222 million campus revitalization. Sewell, NJ has emerged as a prominent medical hub in South Jersey due to its proximity to Philadelphia and Atlantic City, as well as its convenient access to major transportation networks. Sewell is not only known for its healthcare facilities but also for its thriving education and retail sectors. Just 4 miles away lies Rowan University's main campus, which enrolls approximately 16,000 students. Additionally, the Gloucester Premium outlets, a 400,000 square foot premium outlet complex, attract hundreds of thousands of shoppers on a monthly basis. These anchor properties contribute to the attractiveness of Sewell as a major market for education, retail, and healthcare investments.

Listing Contacts

MSC Retail
MSC Retail
Listed by MSC Retail

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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$76,000.00
$6,333.33/mo

Valuation Metrics

0
DSCR
7.04%
Cap Rate
7.04%
ROI

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