Listed by CBRE - Atlanta, CBRE Atlanta, CBRE - Stamford
$4,406,555
Cracker Barrel: Mount Holly, NJ
Details
Property Type Retail
Sub Type Restaurant
Square Footage 10,033
Cap Rate 6.15%
NOI $271,003
Occupancy 100%
Tenancy Single
Brand/Tenant Cracker Barrel
Lease Type Absolute NNN
Lease Term 20
Lease Expiration 07/31/2040
Remaining Term 14
Rent Bumps Yes
Lease Options Ten, 5-Year Options
Year Built 1999
Buildings 1
Stories 1
Acreage 4.680
Parking Spaces 144 spaces
Parking per 1,000 SqFt 14.35
Investment Type Net Lease
Lease Commencement 08/04/2020
Retail | 6.15% CAP | 10,033 SqFt
Marketing description
The CBRE Net Lease Property Group is pleased to offer for sale the 10,033-square-foot Cracker Barrel situated on 4.68 acres in Mount Holly, New Jersey — part of the Philadelphia-Camden-Wilmington, PA-NJ-DE-MD MSA (MSA Population: 6.3M+). Cracker Barrel's absolute NNN lease features ±14.1 years of primary term remaining with 1% annual rent increases throughout the remainder of the term and in each of the ten, 5-year renewal options (six fixed renewal terms, followed by four FMV renewal terms).
Investment highlights
- Absolute NNN Lease: Cracker Barrel's absolute NNN lease features ±14.1 years of primary term remaining with 1% annual rent increases throughout the remainder of the term and in each of the ten, 5-year renewal options (six fixed renewal terms, followed by four FMV renewal terms).
- Strong Performance: This Mount Holly location is an excellent performer with strong sales.
- Excellent Interstate Access & Visibility: Located less than 26 miles northeast of downtown Philadelphia, Cracker Barrel is positioned with excellent access and visibility off Hancock Lane, feet from its signalized intersection with Burlington-Mount Holly Road (31,564 VPD) and the on-ramp to the New Jersey Turnpike (84,022 VPD), which provides direct access to Newark (63.3 miles north) and New York City (72.3 miles north). Additionally, the site is 1.5 miles from the on-ramp to I-295 (110,205 VPD), which serves as a significant bypass highway serving the Philadelphia metropolitan area and a partial beltway for Trenton, NJ.
- Strategic Location | Surrounded by Hotels: Cracker Barrel is less than a mile from several hotels including Comfort Inn & Suites (100 rooms), Baymont by Wyndham (87 rooms), Hilton Garden Inn (113 rooms), Courtyard by Marriott (119 rooms), Holiday Inn Express & Suites (76 rooms), Red Roof Inn & Suites (78 rooms) and Red Carpet Inn (43 rooms). With more than 615 total rooms, these hotels provide Cracker Barrel with a substantial built-in customer base within walking distance.
Listing Contacts
Listed by CBRE - Atlanta, CBRE Atlanta, CBRE - Stamford
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$271,003.00
$22,583.58/mo
Valuation Metrics
0
DSCR
6.15%
Cap Rate
6.15%
ROI
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