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Shopping Strip

Crossroads Center

143 US-1, Metuchen, NJ 08840

Listing Price: $3,515,000

Cap Rate
6.00%
Gross SF
9,840
Rentable SF
9,840
Price/Gross SF
$357.22
Lot Size
0.83 acres
Year Built
1983

Investment Overview

The Klink Group of Marcus & Millichap, as exclusive advisor, is pleased to present the opportunity to acquire Crossroads Center, a 9,840-square foot retail strip center in Metuchen, New Jersey. Crossroads Center is 100% occupied by various local, national and regional e-commerce resistant tenants Blinds to Go, Vape Beast, Lavo Nails, Alba Kitchen & Bath, All State Insurance and Lavo Beautique; all of which are operating under absolute triple-net leases with full pass-thru of all operating expenses, including management. 82% of the property’s rent roll doesn’t rollover for another 5+ years and 60% of the property’s gross leasable area is taken up by Alba Kitchen & Bath and Blinds to Go equally, which is important to note because there has been a renewed emphasis on consumer spending towards home improvements. Low interest rates, limited supply and increased demand for homes has driven homeowner’s equity up and the new trend of working from home and limited traveling, dining and entertainment has allowed homeowners to save money; both of which created an opportunity to invest back into their homes via projects such as remodeling kitchens and bathrooms and adding/upgrading blinds. Built in 1983, Crossroads Center sits on 0.85 acres of prime real estate along US Highway 1, one of the nation’s most well-known highways that parallels the East Coast of the United States, running from Key West, Florida in the south to Fort Kent, Maine at the Canadian border in the north. Crossroads Center’s unique parallel location along US Highway 1 and next to the Golden State Parkway benefits from average daily car counts in excess of over 300,000. The Property also sits directly in the center of Metuchen’s three premier commercial & office properties; Menlo Park Mall, a 1.3M SF indoor regional mall; Metropark Office Campus, a large class A office district and the Woodbridge Center, a 1.63M SF indoor regional mall; are all within two miles of the Property. Crossroads Center presents a great opportunity to acquire a 100%-occupied multi-tenant retail center in the New Jersey/New York trade area. The Property’s triple-net lease structure and longevity along with the property’s ease of management makes Crossroads Center the ideal investment opportunity for various types of investors; local, regional and national private investors, 1031-Exchange buyers looking for income passivity and ease of management.

Investment Highlights

  • 100% Occupied with Internet Resistant Tenants, 82% of the Property's Leases Don't Rollover for 5+ Years Including Blinds to Go which Lease Expires in 2031.
  • Located Along US Highway 1 and Next to Golden State Parkway, Both of which Experience 91,000+ and 200,000+ Vehicles-Per-Day, Respectively
  • All Tenants Operate Under Triple-Net Leases Allowing 100% Pass Thru of all Operating Expenses to the Property, Including Management
  • Situated on Large 0.85-Acre Site with 47 Parking Spaces; 4.78:1,000 SF Parking Ratio
  • Close Proximity to Two Indoor Regional Malls with Over 1M SF of Retail Space & Metropark Corporate Campus, a Class A Office Park
  • Low Transaction Velocity Submarket, with Exceptionally Strong Intrinsic Real Estate Values

Broker of Record

  • Brian Hosey

    First Vice President / District Manager

    (201) 742-6100

    License(s) NJ: 1434917

    New Jersey

Shopping Strip

Crossroads Center

Listing Price: $3,515,000

Cap Rate
6.00%
Gross SF
9,840
Rentable SF
9,840
Price/Gross SF
$357.22
Lot Size
0.83 acres
Year Built
1983

Investment Highlights

  • 100% Occupied with Internet Resistant Tenants, 82% of the Property's Leases Don't Rollover for 5+ Years Including Blinds to Go which Lease Expires in 2031.
  • Located Along US Highway 1 and Next to Golden State Parkway, Both of which Experience 91,000+ and 200,000+ Vehicles-Per-Day, Respectively
  • All Tenants Operate Under Triple-Net Leases Allowing 100% Pass Thru of all Operating Expenses to the Property, Including Management
  • Situated on Large 0.85-Acre Site with 47 Parking Spaces; 4.78:1,000 SF Parking Ratio
  • Close Proximity to Two Indoor Regional Malls with Over 1M SF of Retail Space & Metropark Corporate Campus, a Class A Office Park
  • Low Transaction Velocity Submarket, with Exceptionally Strong Intrinsic Real Estate Values

Investment Overview

The Klink Group of Marcus & Millichap, as exclusive advisor, is pleased to present the opportunity to acquire Crossroads Center, a 9,840-square foot retail strip center in Metuchen, New Jersey. Crossroads Center is 100% occupied by various local, national and regional e-commerce resistant tenants Blinds to Go, Vape Beast, Lavo Nails, Alba Kitchen & Bath, All State Insurance and Lavo Beautique; all of which are operating under absolute triple-net leases with full pass-thru of all operating expenses, including management. 82% of the property’s rent roll doesn’t rollover for another 5+ years and 60% of the property’s gross leasable area is taken up by Alba Kitchen & Bath and Blinds to Go equally, which is important to note because there has been a renewed emphasis on consumer spending towards home improvements. Low interest rates, limited supply and increased demand for homes has driven homeowner’s equity up and the new trend of working from home and limited traveling, dining and entertainment has allowed homeowners to save money; both of which created an opportunity to invest back into their homes via projects such as remodeling kitchens and bathrooms and adding/upgrading blinds. Built in 1983, Crossroads Center sits on 0.85 acres of prime real estate along US Highway 1, one of the nation’s most well-known highways that parallels the East Coast of the United States, running from Key West, Florida in the south to Fort Kent, Maine at the Canadian border in the north. Crossroads Center’s unique parallel location along US Highway 1 and next to the Golden State Parkway benefits from average daily car counts in excess of over 300,000. The Property also sits directly in the center of Metuchen’s three premier commercial & office properties; Menlo Park Mall, a 1.3M SF indoor regional mall; Metropark Office Campus, a large class A office district and the Woodbridge Center, a 1.63M SF indoor regional mall; are all within two miles of the Property. Crossroads Center presents a great opportunity to acquire a 100%-occupied multi-tenant retail center in the New Jersey/New York trade area. The Property’s triple-net lease structure and longevity along with the property’s ease of management makes Crossroads Center the ideal investment opportunity for various types of investors; local, regional and national private investors, 1031-Exchange buyers looking for income passivity and ease of management.

Broker of Record

  • Brian Hosey

    First Vice President / District Manager

    (201) 742-6100

    License(s): NJ: 1434917

    New Jersey

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