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Vacant-User

989 US Highway Route 1

989 US-1, Woodbridge Township, NJ 07001

Listing Price: $11,250,000

Cap Rate
5.11%
Gross SF
4,543
Rentable SF
4,543
Price/Gross SF
$2,476.34
Lot Size
1.44 acres
Year Built
2018

Investment Overview

Marcus & Millichap is pleased to present the exclusive listing for a brand new construction, built-to-suit QuickChek prototype located in Woodbridge, New Jersey, one of the most populous municipalities in the state.? QuickChek has nearly 18 years remaining on an absolute net lease with rent escalations every five years and in the four five-year renewal options.? QuickChek is a best-in-class tenant within the highly sought-after convenience sector and a tier-one retailer that is both online and recession-resistant, with awards including but not limited to: Foodservice Innovator of the Year, Best Place to Work and notably, Chain of the Year.? This attractive and newly constructed asset is strategically located on the intersection of the highly trafficked New Jersey Route 1 state highway (48,000 Vehicles Per Day) and Avenel Street (11,100 Vehicles Per Day).? The subject property is located within an extremely dense population that is comprised of over 132,000 people in a three-mile radius and over 352,000 people in a five-mile radius.? QuickChek is situated with excellent frontage on U.?S.? Route 1, running from Key West, FL in the south to Fort Kent, ME at the Canadian border to the north.? The town of Woodbridge is ideally located in Northern New Jersey in close proximity to Staten Island (less than 12 miles) and New York City (approximately 25 miles).? The subject site is within a strong retail corridor of Woodbridge with surrounding national tenants including The Home Depot, Walgreens, Burger King, The UPS Store, McDonald’s, Chase Bank, Denny’s, 7-Eleven, Dunkin’ Donuts, Dollar Tree, Advance Auto Parts and many more.? The property has a $7.1M loan.? If the loan is assumed, we can deduct $250,000 from the purchase price.? $7.1M Principle 10 Year term; 9 years remaining 25 year amortization 3.95% interest rate

Investment Highlights

  • COVID and Online Resistant Tenant | Attractive Relocation Store
  • Brand New Store from Previous Older Footprint with No Fuel Component
  • Hard Corner Signalized Intersection of NJ State Route 1 and Avenel Street
  • Ideal Fuel/Convenience Store | Highly Trafficked NJ State Route 1 | 48k VPD
  • Affluent Area | $106,000 Average Household Income in Five Miles
  • New Construction QuickChek Prototype | Build-to-Suit
  • 18 Years Remaining on Absolute Net Lease | Rent Bumps Every Five Years
  • Corporate Guaranty from QuickChek Corporation | 153 Locations

Broker of Record

  • Brian Hosey

    First Vice President / District Manager

    (201) 742-6100

    License(s) NJ: 1434917

    New Jersey

Listing Price: $11,250,000

Cap Rate
5.11%
Gross SF
4,543
Rentable SF
4,543
Price/Gross SF
$2,476.34
Lot Size
1.44 acres
Year Built
2018

Investment Highlights

  • COVID and Online Resistant Tenant | Attractive Relocation Store
  • Brand New Store from Previous Older Footprint with No Fuel Component
  • Hard Corner Signalized Intersection of NJ State Route 1 and Avenel Street
  • Ideal Fuel/Convenience Store | Highly Trafficked NJ State Route 1 | 48k VPD
  • Affluent Area | $106,000 Average Household Income in Five Miles
  • New Construction QuickChek Prototype | Build-to-Suit
  • 18 Years Remaining on Absolute Net Lease | Rent Bumps Every Five Years
  • Corporate Guaranty from QuickChek Corporation | 153 Locations

Investment Overview

Marcus & Millichap is pleased to present the exclusive listing for a brand new construction, built-to-suit QuickChek prototype located in Woodbridge, New Jersey, one of the most populous municipalities in the state.? QuickChek has nearly 18 years remaining on an absolute net lease with rent escalations every five years and in the four five-year renewal options.? QuickChek is a best-in-class tenant within the highly sought-after convenience sector and a tier-one retailer that is both online and recession-resistant, with awards including but not limited to: Foodservice Innovator of the Year, Best Place to Work and notably, Chain of the Year.? This attractive and newly constructed asset is strategically located on the intersection of the highly trafficked New Jersey Route 1 state highway (48,000 Vehicles Per Day) and Avenel Street (11,100 Vehicles Per Day).? The subject property is located within an extremely dense population that is comprised of over 132,000 people in a three-mile radius and over 352,000 people in a five-mile radius.? QuickChek is situated with excellent frontage on U.?S.? Route 1, running from Key West, FL in the south to Fort Kent, ME at the Canadian border to the north.? The town of Woodbridge is ideally located in Northern New Jersey in close proximity to Staten Island (less than 12 miles) and New York City (approximately 25 miles).? The subject site is within a strong retail corridor of Woodbridge with surrounding national tenants including The Home Depot, Walgreens, Burger King, The UPS Store, McDonald’s, Chase Bank, Denny’s, 7-Eleven, Dunkin’ Donuts, Dollar Tree, Advance Auto Parts and many more.? The property has a $7.1M loan.? If the loan is assumed, we can deduct $250,000 from the purchase price.? $7.1M Principle 10 Year term; 9 years remaining 25 year amortization 3.95% interest rate

Broker of Record

  • Brian Hosey

    First Vice President / District Manager

    (201) 742-6100

    License(s): NJ: 1434917

    New Jersey

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