621-641 Milford Warren Glen Rd
Milford, NJ 08848

Holland Center | Nestled in Affluent Community! On behalf of ownership, Marcus & Millichap is pleased to exclusively offer the fee simple interest in Holland Center, the main retail destination for Holland Township, an affluent community within Hunterdon County. Located at the intersection of 614 and Milford Warren Glenn Road, Holland Center' s established tenant mix consists of local businesses serving the surrounding neighborhood, with the nearest shopping center located more than 12 miles away. The 10,777 square-foot retail center is presently 100% occupied with a strong history of retaining tenants. Nearly 85% of the rent roll operates on NNN leases, with tenants reimbursing ownership their natural pro-rata share of operating expenses including real estate taxes, insurances, and CAM. The only gross lease expires in 2017, offering a light value-add opportunity to recapture reimbursable rent by re-leasing or converting to a NNN lease. Approximately 51% of the gross leasable area includes attractive rent bumps in their leases, consistently increasing an investor' s expected cash flow. It is also important to note that Ownership completed recent major capital expenditures include recapping of wood roofline and the replacement of box signage. Additionally, one can achieve a double-digit cash-on-cash return of 12.1% is achievable based on loan quote at full asking price.