Freestanding Drug
For Sale
Contact for pricing
Pending
115 Morris Avenue, Springfield, NJ 07081
Walgreens occupies the building under an absolute NNN lease with tenant responsibility for property expenses and structural maintenance.
Property Size13,369 SF
Days on Market143
Property Features for 115 Morris Avenue
General Information
Standard status
Pending
Size
13,369 SF
Property subtype
Retail
Occupancy
100%
Building Details
Buildings
1
Tenancy
Single
Listing Agency:
GFI Realty Services LLC
Listed By:
Traci-lea Dixon · License #NY 10491205528
Source:
Crexi
Added: Apr 11
Changed: Aug 30
Last Checked: Aug 30 at 11:06PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of GFI Realty Services LLC
Investment Insights
Based on property information with market context.
This freestanding drug store contains 13,369 square feet and is fully leased to Walgreens Co. under a 25-year lease expiring in January 2038. The agreement includes ten 5-year renewal options, a rent increase in Year 11, and an absolute NNN structure. Walgreens is responsible for property expenses, including the roof and building structure.
The property stands at the signalized junction of Morris, Meisel and Maple Avenues in Springfield Township, NJ. Interstate-78 and Route 24 are less than a mile away, while the Garden State Parkway is 4 miles from the site and Newark Liberty International Airport is 7 miles away. Nearby retail includes CVS, Bank of America, GNC, Valley Bank, Whole Foods, Target, Trader Joe’s, Best Buy and Short Hills Mall.
The property stands at the signalized junction of Morris, Meisel and Maple Avenues in Springfield Township, NJ. Interstate-78 and Route 24 are less than a mile away, while the Garden State Parkway is 4 miles from the site and Newark Liberty International Airport is 7 miles away. Nearby retail includes CVS, Bank of America, GNC, Valley Bank, Whole Foods, Target, Trader Joe’s, Best Buy and Short Hills Mall.
Key Highlights
- 13,369‑square‑foot freestanding drug store
- 100% leased to Walgreens Co. through January 2038
- 25‑year lease includes ten 5‑year renewal options
Property Analytics
Current Use
Lease Details
100%
Occupancy
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,374
Businesses Nearby
15k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 93%
Dining 7%
BP
Shops & Services
9,983 visits/mo
0.0 miles
Citizens Bank
Shops & Services
3,526 visits/mo
0.1 miles
Domino's Pizza
Dining
1,029 visits/mo
0.2 miles
Extra Space Storage
Shops & Services
677 visits/mo
0.4 miles
Demographics for 07081, NJ
17,200
Population
6,844
Households
2.5
Avg Household Size
43
Median Age
64%
College-Educated
95%
High-School Grad
5.2 sq mi
ZIP Area
3,308
Density / Sq Mi
$146,059
Median Household Income
$70,781
Median Earnings
$2,135
Median Rent
$590,600
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
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Similar Off Market Nearby
- Gopi Hudka — 2707 Morris Ave, Union, NJ 070834823
- Elevate Living Ventures — 2810 Morris Ave, Union, NJ 07083
- SKNSOFLAWLESS — 2810 Morris Ave #205, Union, NJ 07083
- GNC — 225 Morris Ave, Springfield, NJ 07081
- Walgreens Pharmacy — 125 Morris Ave, Springfield, NJ 07081
Frequently Asked Questions
What type of property is this?
Drug store - Walgreens occupies the building under an absolute NNN lease with tenant responsibility for property expenses and structural maintenance.
Where is this drug store located?
The property is located at 115 Morris Avenue Springfield, NJ.
What are key features of this property?
This property features: 13,369‑square‑foot freestanding drug store; 100% leased to Walgreens Co. through January 2038; 25‑year lease includes ten 5‑year renewal options
