Listed by Marcus & Millichap - New Jersey
$3,800,000
NNN BP Gas Station (Fitch A+ Credit)
Details
Property Type Retail
Sub Type Gas Station
Square Footage 428
Net Rentable (SqFt) 428
Cap Rate 6.24%
NOI $237,160
Occupancy 100%
Tenancy Single
Brand/Tenant BP Gas Station
Lease Type NNN
Lease Term 15.1
Lease Expiration 09/30/2031
Remaining Term 5.3
Year Built 1989
Year Renovated 2019
Acreage 0.500
Zoning B40
Parking Spaces 32 spaces
Parking Per SqFt 74.77
Investment Type Net Lease
Lease Commencement 09/01/2016
Ground Lease Yes
Retail | 6.24% CAP | 428 SqFt
Marketing description
Marcus & Millichap is pleased to exclusively present 144 Route 17 South, Mahwah, Bergen County, New Jersey.
Investment highlights
TENANT(S)
BP Maintains a Strong Investment Grade Credit Rating
Fitch Affirms 'A+' Long-Term Stable Outlook
LEASE(S)
Corporate Guarantee NNN Ground Lease
5.5 Years Remaining with (4) 5-Year Renewal Options
10% Rent Increases Every 5 Years (Pricing Based Off of 10/1/2026 Rent Increase – Seller will Credit Difference in Income at Closing)
BUILDING
Situated on 0.5 Acres and Zoned B40 Highway Business with Many Permitted Uses
428 SF Convenience Store with 32 On-Site Parking Spaces
LOCATION/ MARKET
103,800 Vehicles Per Day Along Route 17
Many Nearby National Retailers Including McDonald's, The Home Depot, TD Bank, Burger King, QuickChek and Starbucks
Listing Contacts
Listed by Marcus & Millichap - New Jersey
Valuation Calculator
Login or Sign up to see Valuation Metrics
Sign up for Crexi to see valuation metrics for this property
Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$237,160.00
$19,763.33/mo
Valuation Metrics
0
DSCR
6.24%
Cap Rate
6.24%
ROI
Map
Broker Selected Comps View More Comps
Property History
Similar Properties
Is there information that looks off?
