Listed by Marcus & Millichap - New Jersey
$9,082,000
Pennington Avenue Shopping Village (Grocery-Anchored)
Details
APN 11-04201-0000-00001
Property Type Retail
Sub Type Shopping Center
Square Footage 57,830
Units 15
Cap Rate 7.00%
NOI $635,741
Occupancy 96%
Tenancy Multi
Year Built 2003
Acreage 5.350
Parking Spaces 216 spaces
Parking per 1,000 SqFt 3.74
Ground Lease No
About This Property for Sale
Marketing description
Marcus & Millichap is pleased to exclusively present 359 Pennington Avenue, Trenton, Mercer County, New Jersey.
Investment highlights
- 96% Occupied Grocery-Anchored Shopping Center - Well-established neighborhood shopping center on the Trenton/Ewing border, anchored by Super Food (Supremo) Supermarket, a long-term grocery tenant occupying 45% of the GLA and paying just $8 PSF.
- Diversified Tenant Mix - The center is occupied by 14 tenants spanning grocery, restaurants, retail, personal services, childcare and telecommunications, creating stable cash flow with minimal tenant concentration risk.
- Recent Capital Improvements - Ownership has made significant recent investments in the property, including repainting and replacing majority of rooftop HVAC units in 2024.
- Long-Term NNN Cash Flow - Predominantly NNN lease structure with scheduled rent increases throughout the rent roll provides stable cash flow, contractual NOI growth and limited landlord responsibilities.
- Large Infill Center on 5.35 Acres - Situated on 5.35 acres with 216 parking spaces, the property offers an irreplaceable infill footprint.
- Excellent Regional Accessibility - Located just off US Route 1 and US Route 206 with convenient access to Interstate 295 and Interstate 195, the property benefits from strong regional connectivity throughout Mercer County and the greater Central New Jersey market.
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
$635,741.00
$52,978.42/mo
Valuation Metrics
0
DSCR
7%
Cap Rate
7%
ROI
Broker Selected Comps View More Comps
Property History
Tax History
Similar Properties
Is there information that looks off?
