Spark Car Wash
Roxbury Township, NJ
Key Details
| Price: | $6,539,714 |
|---|---|
| Cap Rate: | 7.00% |
| Annual Rent: | $457,780 |
| Address: | 1425 U.S. 46, Roxbury Township, New Jersey 07852 |
| Property Type: | Retail |
| Lease Type: | Triple Net (NNN) |
Property Data
| Original Lease Term: | 21 Years |
|---|---|
| Lease Commencement: | 4/15/2023 |
| Lease Expiration: | 4/15/2044 |
| Lease Term Remaining: | 19.4 Years |
| Rental Increases: | 2.00% Annually Starting Year 6 |
| Lot Size: | 1.15 Acres |
| Building Size: | 6,457 SF |
| Year Built: | 2023 |
NNN Pro is pleased to present the exclusive listing for a Spark Car Wash located at 1425 U.S. 46, Roxbury Township, New Jersey 07852. The site consists of roughly 6457 rentable square feet of building space on an estimated 1.15-acre parcel of land. This Spark Car Wash is subject to a 21-year Triple Net (NNN) lease, which commenced 4/15/2023. The current annual rent is $457,780 and has scheduled increases of 2.00% Annually Starting Year 6.
About the Investment
- Long-Term, 21-Year Absolute Triple Net (NNN) Lease | Over 20 Years of NNN Term Remain | Zero Landlord Responsibilities
- Extremely Strong Store Opening | Set a Single Day Record for Most Car Washes Upon Opening
- Located One-Mile Away from The Shops at Ledgewood Commons | Approximately 22 National Stores With Several Anchor Tenants | Walmart, Home Depot, Kohl’s, Marshalls, Old Navy, Burlington and a Few More
- 2.00% Annual Rental Increases | Ideal Location for a Car Wash in Affluent Core New Jersey Market
- High Exposure Location| Route 46 and Interstate 80 | 45,300 and 92,500 Vehicles Per Day, Respectively
- Ideal Consumer Base for Vehicle Repair Services that Spark Offers
- Average Household Income of Over $142,000
About the Location
- Dense Retail Corridor | Walmart, Kohl’s, BJ’s, The Home Depot, Shop Rite, Burlington, Old Navy, Dollar Tree, McDonald’s, CVS, Marshalls, Staples, Dunkin Donuts, Burger King, Wendy’s, Planet Fitness, Taco Bell, Auto Zone, Meineke and Many More
- Well Populated Area | Population Within a Ten-Mile Radius Exceeds 283,900 Individuals
- Strong Real Estate Fundamentals | Located Directly on Route 46| Bringing 45,300 Vehicles to the Immediate Area
- Several Hospitality Accommodations Nearby| Quality Inn & Suites | Holiday Inn Express & Suites | Courtyard By Marriott | Kenvil Hotel | Roxbury Motel
- New York, NY | Located Approximately 45 Minutes Away
About the Tenant/Brand
- Team of Highly Experienced Car Wash Experts | In Addition to the 5 Operating Sites, They Have 26 Under Contract in Various Stages of Development Across New Jersey, New York and Pennsylvania and 8 Locations Under Exclusive LOIs (NJ: 6, NY: 0, PA: 2)
- The Spark Car Wash Model Includes High-Performance Express Tunnel Car Washes in Prime Retail and High Traffic Corridors
- Subscription Based Model With Locations in Affluent New Jersey Markets
Key Details
| Price: | $6,539,714 |
|---|---|
| Cap Rate: | 7.00% |
| Annual Rent: | $457,780 |
| Address: | 1425 U.S. 46, Roxbury Township, New Jersey 07852 |
| Property Type: | Retail |
| Lease Type: | Triple Net (NNN) |
Property Data
| Original Lease Term: | 21 Years |
|---|---|
| Lease Commencement: | 4/15/2023 |
| Lease Expiration: | 4/15/2044 |
| Lease Term Remaining: | 19.4 Years |
| Rental Increases: | 2.00% Annually Starting Year 6 |
| Lot Size: | 1.15 Acres |
| Building Size: | 6,457 SF |
| Year Built: | 2023 |
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
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.