Listing Contacts
Stuart Conston
License: PA AB051909L
Edward Ginn
License: PA RM050201A
Asking Price
$3,157,895
Address
700 Sloan Ave
Hamilton Township, NJ
Property Details
Asking Price
$3,157,895
Property Type
Retail
Investment Type
Net Lease
Lease Type
Absolute NNN
Tenancy
Single
Rent Commencement
05/16/2020
Lease Expiration
05/31/2040
Remaining Term
19.9 years
Square Footage
5,856
Price/Sq Ft
$539.26
Cap Rate
4.75%
Occupancy
100%
NOI
$150,000
Year Built
2021
Permitted Zoning
I - Commercial
Lot Size (acres)
2.534
Parking (spaces)
69
Rent Bumps
10% increases every 5 years
Lease Options
Four 5-Year Options
Ground Lease
Yes
Ownership
Ground Lease / Leased Fee
Property Description
Equity Retail Brokers is pleased to offer for sale to qualified investors an opportunity to acquire a new QuickChek Convenience Store in Hamilton Township, NJ.​​​​​​​ Hamilton Township is located in Mercer County, Central New Jersey, outside of Trenton, approximately 48 miles Southwest of New York City and approximately 34 miles northeast of Philadelphia.​​​​​​​ It is part of the New York Metropolitan Area.​​​​​​​, and borders the Philadelphia Metropolitan Area.​​​​​​​ This asset sits on approximately 2.5 acres.​​​​​​​

QuickChek is an essential business and has been open and operating during the Covid-19 pandemic.​​​​​​​ Rent has already commenced under the lease, construction is scheduled to begin in the late Fall, 2020, with an expected opening in early Spring, 2021.​​​​​​​ QuickChek signed a 20 year, absolute net, corporate ground lease with 10% rent escalations every five years and in the subsequent four, 5-year renewal options.​​​​​​​ The lease is backed by a corporate guarantee from QuickChek Corporation, a privately-owned company with over 150 retail locations throughout New Jersey and New York.​​​​​​​ There are absolutely no landlord responsibilities for operating or maintaining, or capital expenses related to the property.​​​​​​​

The subject property sits on Sloane Avenue, at the entrance to the Hamilton, NJ Amtrak – NJ Transit Rail Station, which has over 5,175 average weekday passenger train boardings at the station, plus parking for 3,600 cars.​​​​​​​ It is close to the I-295 access ramps, with over 28,000 vehicles per day along Sloane Avenue and over 77,000 vehicles per day along I-295, and also has convenience access from Hwy US Route 1, with over 49,000 vehicles per day.​​​​​​

The immediate 5 mile trade area has strong demographics with 243,078 population, HH income over $96,766, and 135,800 daytime population.​​​​​​​ The property is also located within a one-hour drive of New York City, Philadelphia and the New Jersey Shore.​​​​​​​

Property Highlights
  • Brand New construction QuickChek- Rent commenced on May 16, 2020 and construction is scheduled to begin in the late Fall, 2020, with an expected opening in early Spring, 2021. 
  • QuickChek is an essential business and has been open and operating during the Covid-19 pandemic.
  • 20 years of firm initial lease term, with options extending an additional 20 years.
  • Ideal 10% rent increases every five years throughout the lease.
  • Absolute NNN Ground Lease with no landlord responsibilities.
  • Multi-million dollar investment by QuickChek in the property.
  • Located at the entrance to the Hamilton, NJ Amtrak- NJ Transit Station, with over 5,175 average weekday passenger train boardings, and offering rail access to New York City, Philadelphia, Washington DC.
  • Hamilton Twp. is part of the New York Metro Area: 48 Miles from New York City, 34 Miles from Philadelphia
  • Highly visible site sits on Sloan Ave. with over 25,800 VPD, and close access to I-295 with over 77,000 VPD, and US HWY Route 1 with over 49,000 VPD.