Listed by Bennett Realty & Development
$2,933,000
Vitamin Shoppe- Little Falls NJ
Details
Property Type Retail
Sub Type Storefront
Square Footage 6,496
Cap Rate 8.00%
NOI $237,640
Tenancy Single
Lease Type NNN
Lease Term 30.2
Lease Expiration 03/30/2028
Remaining Term 3
Price per SqFt $523
Acreage 0.610
Zoning B2 Business
Parking Spaces 35 spaces
Parking Per SqFt 5.39
Lease Commencement 12/31/1997
Retail | 8.00% CAP | 6,496 SqFt
Marketing description
Vitamin Shoppe is owned by The Franchise Group, an American holding company now in bankruptcy. It owns brands in six retail chains, including American Freight, Buddy’s Home Furnishings and Vitamin Shoppe. Of the six, only Vitamin Shoppe and one other are profitable.
The Vitamin Shoppe was founded in 1977 by Jeffrey Horowitz in Secaucus, NJ and was acquired by The Franchise Group in 2019. It offers nutritional, fitness and health supplements in each of its 696 locations across the US and online. Its retail stores and online sales carry its own house brands such as FitFactor, ProBio Care, and Bodytech, as well as third-party brands and specialized lines. It is the leader in the nutritional, fitness and health supplements retail category with over 7.000 different SKUs. Presently, The Vitamin Shoppe operates 37 stores throughout New Jersey.
The property site is in the heart of the regional Route 46 retail corridor which is one of the best shopping corridors in New Jersey. Some of the reasons why Route 46 is so successful is that it in one of the most densely populated parts of New Jersey. There are over 480,000 people with an average household income of over $120,000.00 within 5 miles. The site is only 12 miles to New York City where shoppers travel to save on taxes and visit the Willowbrook Regional Mall. Also, this area is a 7-day shopping highway. Clientele from Bergen County which is only 8 miles away travel to the area as Bergen County, NJ mandates store closed on Sunday.
The site is located three (3) miles to the Willow Brook Mall. National & regional brand retailers along Route 46 include, Kohl’s, Barnes & Noble, Petco, Home Sense, TJ Maxx, Hom Depot, Staples, Hobby Lobby, Marshalls, Guitar Center, World Market, Bob’s Furniture, Best Buy, PC Richard, & Son, supermarkets of Amazon Fresh, ShopRite & Aldi Market. The area is anchored by the Willowbrook Mall with peripheral retailers of Costco, Floor & Décor, Nordstrom Rack, Dicks Sporting Goods, Home Goods, Pet Smart, AMC & Cinemark Theatres.
Experienced retails know that free-standing buildings have the highest sales per square foot compared to any other type of retail sites. Landlords know that free
standing single tenant building receive the highest rents per square foot, have and the lowest vacancy factor and easiest properties to manage than of any other type of retail buildings. The Vitamin Shoppe and neighboring Mattress Plus buildings are among the very few free-standing single tenant buildings along the three mile stretch of the main retail on Route 46.
Investment highlights
- Building Size: 6,496/sf | 68’x95’
- Property Size: .61 Acres | 110’x250’
- Parking: 35 parking spaces
- Lease Term: Start: 1/1/1998 - 3/31/2028 (no renewal options)
- Rent: $237,640.00/SF
- Expenses: None.
- Zoning: B2 Business
- Property Taxes: $43,316
- https://www.youtube.com/watch?v=apw741-7AWo
Listing Contacts
Listed by Bennett Realty & Development
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Loan Amount
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Annual Debt Service
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Annual Cash Flow
$237,640.00
$19,803.33/mo
Valuation Metrics
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DSCR
8.1%
Cap Rate
8.1%
ROI
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