1130 Route 46, Ledgewood, NJ 07852

Matthews™ is pleased to exclusively offer 1130 Route 46 in Ledgewood, New Jersey. This is an exceptional opportunity to acquire a high-quality, 2016 build-to-suit Advance Auto Parts retail property with a corporately guaranteed NNN lease. The property features all red brick construction and benefits from approximately 9.5 years remaining on the base lease term, with three 5-year renewal options.

Located just 40 miles west of Manhattan, the property enjoys strong daily traffic counts along Route 46 and Route 10, excellent regional connectivity, and affluent demographics with an average household income of $170,144 within a 5-mile radius. The 5-mile population exceeds 110,000 residents, providing a robust customer base for the tenant. Advance Auto Parts (NYSE: AAP) is one of the nation's largest automotive aftermarket parts providers, with over 4,700 locations nationwide and annual revenues exceeding $9 billion.

The property benefits from high barriers to entry in the market, a recent long-term lease extension demonstrating the tenant's commitment, and consistent rent payments throughout the COVID-19 pandemic as an essential retailer. With a 6.15% cap rate and substantial rent increases built into the lease options, this investment offers strong current income with future upside potential.