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720 Washington Ave Carlstadt, NJ 07072

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For Sale
$9,900,000

Long-term cash flowing asset with a well-regarded tenant.

Property size:
5,496 SF
Lot size:
2.28 Acres

Property Features for 720 Washington Ave

General Information

Size
5,496 SF
Lot size
2.28 Acres

Source: JLL | Morristown Agent Kevin O'Hearn

Displayed information is deemed reliable but is not guaranteed and should be independently verified.


Overview

Carlstadt QuickChek Gas and Convenience

This offering is for a 5,496-square-foot convenience store with a fuel dispensing facility, located on 2.26 acres in Carlstadt, NJ. Constructed in 2013, the property features eight multi-product dispensers for automobiles and two diesel pumps. The property is under a favorable triple net lease with a 20-year term, of which just under ten years remain. The lease includes 10% rental escalations every five years for land rent, and a 10% rental escalation for improvement rent after 10 years. The current lease offers two 10-year renewal options with the same rent-step structure, extending the term through 2053 if all options are exercised. The tenant, QuickChek, was founded in 1967 and acquired by Murphy USA Inc. (NYSE: MUSA) in January 2021. Murphy USA operates across 27 states with 1,700 locations, serving over 2.0 million customers per day under the Murphy USA, Murphy Express, and QuickChek brands, with strategic partnerships with Walmart. This Carlstadt QuickChek presents an opportunity to acquire a long-term cash flowing asset with a well-regarded gas and convenience tenant in a premiere Northern New Jersey location.
Insight Report Location Intelligence

Current Use by Public Records

Quick Chek Convenience Store PNC Bank ATM Atm PNC ATM Atm Continental Baking Co Wholesale Bakery

Suggested Use

Restaurant Realty agency Law Firm Spa & Massage Building Supply Auto Repair Shop Hair Salon Nail Salon Auto Parts Store Hotel & Motel

Zoning and permitted uses should be independently verified with local authorities.

Location Insight

  • Map
  • Local Demand
City
Carlstadt
County
Bergen
State
New Jersey
Longitude
-74.056277
Latitude
40.826659

FAQs

What type of property is this?
Gas station - Long-term cash flowing asset with a well-regarded tenant.
Where is this gas station located?
The property is located at 720 Washington Ave Carlstadt, NJ.
What is the asking price?
The asking price for this property is $9,900,000.
What are key features of this property?
This property features: - Long-term, triple-net lease in place with approximately 10 years remaining.; - Strong tenancy with QuickChek, now owned by Murphy USA Inc. (NYSE: MUSA, S&P: BB+).; - Favorable lease structure includes 10% rental escalations every five years.
More about this property
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