Spark Car Wash
Winslow Township, NJ
Key Details
| Price: | $5,433,614 |
|---|---|
| Cap Rate: | 7.00% |
| Annual Rent: | $380,353 |
| Address: | 586 Berlin - Cross Keys Road, Winslow Township, New Jersey 08081 |
| Property Type: | Retail |
| Lease Type: | Triple Net (NNN) |
Property Data
| Original Lease Term: | 20 Years |
|---|---|
| Lease Commencement: | 3/31/2022 |
| Lease Expiration: | 2/28/2043 |
| Lease Term Remaining: | 18.3 Years |
| Rental Increases: | 1.75% Annually Starting Year 6 |
| Lot Size: | 1.13 Acres |
| Building Size: | 1,800 SF |
| Year Built: | 2022 |
NNN Pro is pleased to present the exclusive listing for a Spark Car Wash located at 586 Berlin - Cross Keys Road, Winslow Township, New Jersey 08081. The site consists of roughly 1800 rentable square feet of building space on an estimated 1.13-acre parcel of land. This Spark Car Wash is subject to a 20-year Triple Net (NNN) lease, which commenced 3/31/2022. The current annual rent is $380,353 and has scheduled increases of 1.75% Annually Starting Year 6.
About the Investment
- Long-Term, 21-Year Absolute Triple Net (NNN) Lease | Over 19 Years of NNN Term Remain
- 1.75% Annual Rental Increases | Ideal Location for a Car Wash in Affluent Core New Jersey Market
Key Details
| Price: | $5,433,614 |
|---|---|
| Cap Rate: | 7.00% |
| Annual Rent: | $380,353 |
| Address: | 586 Berlin - Cross Keys Road, Winslow Township, New Jersey 08081 |
| Property Type: | Retail |
| Lease Type: | Triple Net (NNN) |
Property Data
| Original Lease Term: | 20 Years |
|---|---|
| Lease Commencement: | 3/31/2022 |
| Lease Expiration: | 2/28/2043 |
| Lease Term Remaining: | 18.3 Years |
| Rental Increases: | 1.75% Annually Starting Year 6 |
| Lot Size: | 1.13 Acres |
| Building Size: | 1,800 SF |
| Year Built: | 2022 |
Talk to the Pros
Glen Kunofsky
gkunofsky@nnnpro.com
License: NY: 49KU1129178
Anthony D'Ambrosia
adambrosia@nnnpro.com
License: NY: 10401294012
Josh Kanter
jkanter@nnnpro.com
License: NY: 10401294056
Ilan Bley
ibley@nnnpro.com
License: NY: 10401372865
Broker of Record
Brian Brockman
Bang Realty-New Jersey, Inc
License: 2078547
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This information has been obtained from sources believed reliable. We have not verified it and make no guarantee, warranty or representation about it. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs.