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QuickChek Ground Lease 671 Memorial Pky

5,670 SF 100% Leased Retail Building Phillipsburg, NJ 08865 $6,920,874 CAD ($1,221 CAD/SF) 5.65% Cap Rate

Investment Highlights

  • Brand New 20 Year Absolute NNN Ground Lease with Scheduled 8% Rental Escalations
  • Average Household Income of $109,147 within 5 Mile Radius
  • On the “Going to Work” Side of U.S. Route 22 for Commuters Working in Easton and Allentown
  • No Landlord Maintenance Responsibilities
  • Nearby Anchor Tenants include Target, Walmart Supercenter, ALDI, Stop & Shop, and More
  • Prominent Retail Location Along Memorial Parkway (51,141 AADT) - Phillipsburg’s Main Thoroughfare Linking City to Allentown

Executive Summary

The subject property is prominently located with excellent access and visibility along Memorial Parkway (51,141 AADT), Phillipsburg’s main arterial linking the city to Allentown. The site benefits from robust demographics with a population of 113,416 and average household income of $109,147 within a 5 mile radius.
The site benefits from a strategic location in close proximity to shopping centers, major employers, and retail tenants. Nearby retail centers include Greenwich Shopping Center, anchored by Target (1 million annual visits per Placer.ai) & Lowe’s (557,100 annual visits); Pohatcong Plaza, anchored by Marshalls (315,300 annual visits), Stop & Shop (559,800 annual visits), & Hobby Lobby (257,100 annual visits); St Luke’s Hillcrest Plaza (729,100 annual visits), a mixed-use medical and retail center; and more. Other major retail tenants in the surrounding area include Walmart Supercenter (2.7 million annual visits), ALDI (373,600 annual visits), CVS (249,400 annual visits), Rite Aid (171,400 annual visits) and more. Major employers in the surrounding area include St. Luke’s Hospital, Amazon Distribution, and Bridge Industrial.
This property is listed in Association with Scott Reid & ParaSell, Inc. | A Licensed New Jersey Real Estate Brokerage #1974375. Fisher James Capital is not a New Jersey licensed real estate broker. Residents and property owners of New Jersey should contact ParaSell, Inc. for more information.

Property Facts

Sale Type
Investment NNN
Sale Conditions
Ground Lease (Leased Fee)
Property Type
Retail
Property Subtype
Convenience Store
Building Size
5,670 SF
Year Built
2024
Price
$6,920,874 CAD
Price Per SF
$1,221 CAD
Cap Rate
5.65%
NOI
$391,050 CAD
Percent Leased
100%
Building Height
1 Story
Building FAR
0.07
Lot Size
1.86 AC
Zoning
B-2 - The B-2 zoning district allows a mix of retail, commercial, and office uses, intended to accommodate businesses that serve the general public.
Walk Score ®
Very Walkable (70)
What is a Walk Score®, Transit Score® & Bike Score®?
Walk Score® measures the walkability of any address.
Transit Score® measures access to public transit.
Bike Score® measures bikeability of a location.
What is a Walk Score®
, Transit Score® & Bike Score?
Walk Score® measures the walkability
of any address. Transit Score®
measures access to public transit. Bike Score®
measures bikeability of a location.®

Nearby Major Retailers

Chase Bank
PNC Bank
Provident Bank
  • Listing ID: 32303871

  • Date on Market: 2024-07-01

  • Last Updated:

  • Address: 671 Memorial Pky, Phillipsburg, NJ 08865

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