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33174828
33174830

451 White Horse Pike, Atco, NJ 08004 For Sale

AM
FL SL3507121
Matthews
Listed by Matthews
$1,600,000
53 days on market
Updated 21 days ago

Holistic Solutions Dispensary (8.25% Cap Rate | 3.13 AC Lot)

Details
Property Type Retail
Sub Type Bank, Convenience Store (+1)
Square Footage 4,400
Cap Rate 8.25%
NOI $132,000
Occupancy 100%
Tenancy Single
Lease Type Absolute NNN
Lease Term 10
Lease Expiration 01/31/2033
Remaining Term 6.5
Rent Bumps Yes
Lease Options 1 x 5-Years
Price per SqFt $364
Year Built 1960
Year Renovated 2023
Acreage 3.130
Investment Type Net Lease
Lease Commencement 02/01/2023
Ground Lease No

Cannabis Dispensary Investment with 8.25% Cap Rate and Drive-Thru

Investment highlights

• Absolute NNN Lease — Zero Landlord Obligations, Tenant is solely responsible for all real estate taxes, property insurance, CAM, HVAC maintenance, plumbing, Roof, Management, and repairs. Landlord has no ongoing obligations — true passive income from day one.

• Attractive Yield – Property is being offered at a year-1 in place cap rate of 8.25%.

• Below Replacement Costs – The property is being offered at approximately $363/SF, below estimated replacement cost.

• Former Bank Building – This investment opportunity features a former bank building that has been successfully repurposed into a medical cannabis dispensary. The building's secure infrastructure, strong frontage, and ample parking make it an ideal fit for a cannabis operator.

• 3-Lane Drive-Thru - The property offers a significant competitive advantage with its fully equipped three-lane drive-thru, providing enhanced operational efficiency and greater revenue potential compared to traditional brick-and-mortar cannabis dispensaries that lack this feature.

• Large Lot – The subject property sits on approximately +3.13 acres, offering excess land that provides potential for future redevelopment or expansion.

• Double Personal Guarantee – The lease is backed by two successful business leaders, including a senior executive of a global manufacturing company with substantial revenue and institutional-grade leadership experience, and the founder/operator of the tenant with extensive experience operating and consulting for cannabis businesses in highly regulated markets, providing enhanced credit support and multiple layers of financial security for investors.

Listing Contacts

AM
FL SL3507121
Matthews
Listed by Matthews

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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$132,000.00
$11,000.00/mo

Valuation Metrics

0
DSCR
8.25%
Cap Rate
8.25%
ROI

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Additional Information

Name
Patrick Forde
License
122887, 2330333 (NJ)
Brokerage
Matthews Real Estate Investment Services, Inc
Title
Broker of Record
Brokerage Address
300 Frank W Burr Blvd, Suite 440 Teaneck, NJ 07666
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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