Absolute NNN Leased
For Sale
Contact for pricing
4000 New Jersey Avenue, Wildwood, NJ 08260
Single-tenant Dollar General with an absolute triple-net lease and corporate guarantee in Wildwood, New Jersey.
Property Size7,646 SF
Price / SF$303.82
Days on Market69
Property Features for 4000 New Jersey Avenue
General Information
Standard status
Active
Size
7,646 SF
Property subtype
Retail
Occupancy
100%
Lease Type
Absolute Net
Investment Type
Net Lease
Net Operating Income
$153,312
Building Details
Year Built
2018
Buildings
1
Stories
1
Units
1
Tenancy
Single
Listing Agency:
SAB Capital
Listed By:
Michael Scali · License #NY 10401240589
(646) 809-8856
Source:
Crexi
Added: Jun 29
Changed: Sep 2
Last Checked: Sep 4 at 9:11PM
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 SAB Capital
Investment Insights
Based on property information with market context.
SAB Capital presents an exclusive offering featuring a single-tenant Dollar General leased on an absolute triple-net (NNN) basis. The lease structure includes 7 years remaining on an initial 15-year term, along with 10% increases in each option period, and three 5-year options remaining. The property is further supported by a corporate guarantee.
Located at 4000 New Jersey Avenue in Wildwood, NJ, the asset is described as three miles from the beach and three blocks from the beach, with access and signage called out as strong. The offering notes traffic counts exceeding 10,000 vehicles per day on New Jersey Avenue and highlights nearby national retailers.
Dollar General is identified in the remarks as investment grade, with operations across more than 20,600 stores in 48 states and Mexico, and with $40.6B in net sales in fiscal 2024.
Located at 4000 New Jersey Avenue in Wildwood, NJ, the asset is described as three miles from the beach and three blocks from the beach, with access and signage called out as strong. The offering notes traffic counts exceeding 10,000 vehicles per day on New Jersey Avenue and highlights nearby national retailers.
Dollar General is identified in the remarks as investment grade, with operations across more than 20,600 stores in 48 states and Mexico, and with $40.6B in net sales in fiscal 2024.
Key Highlights
- 2018‑built, single‑tenant Dollar General in Wildwood, NJ with an absolute triple‑net (NNN) lease
- Initial 15‑year lease structure with 7 years remaining and three 5‑year options; 10% increases in each option period
- Absolute NNN lease features a corporate guarantee
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$116,433
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.01%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,328,660
$2.3M
Cap Rate 7%
$1,663,329
$1.7M
Cap Rate 9%
$1,293,700
$1.3M
Market Conditions
NOI Build-Up for 7,646 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$165.2K $21.60/SF
− Vacancy
−$9.9K −$1.30/SF
EGI
$155.2K $20.30/SF
− OpEx
−$38.8K −$5.08/SF
NOI
$116.4K $15.23/SF
Area
Cape May County, NJ
Vacancy
6.00%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,328,660
Cap Rate 7%
$1,663,329
Cap Rate 9%
$1,293,700
Alternative Uses
Best Use
Specialty Retail
$1.66M
$1.46M – $1.94M
NOI $116,433 @ 7.0% cap · market cap 5.01%
Second Best
Retail
$1.27M
$1.11M – $1.48M
NOI $88,632 @ 7.0% cap · market cap 3.82%
Theoretical Best
Office A
$2.34M
$2.05M – $2.73M
NOI $163,832 @ 7.0% cap · market cap 7.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,203
Businesses Nearby
74k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 56%
Dining 24%
Groceries 18%
Home Improvements & Furnishings 3%
Wawa
Shops & Services
30,305 visits/mo
0.4 miles
ACME Markets
Groceries
13,256 visits/mo
0.2 miles
McDonald's
Dining
11,306 visits/mo
0.3 miles
Sinclair
Shops & Services
6,585 visits/mo
0.3 miles
Starbucks
Dining
5,555 visits/mo
0.3 miles
Demographics for 08260, NJ
12,964
Population
23,076
Households
0.6
Avg Household Size
53
Median Age
28%
College-Educated
93%
High-School Grad
15.9 sq mi
ZIP Area
815
Density / Sq Mi
$71,549
Median Household Income
$40,361
Median Earnings
$1,182
Median Rent
$441,300
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
NNN property - Single-tenant Dollar General with an absolute triple-net lease and corporate guarantee in Wildwood, New Jersey.
Where is this nnn property located?
The property is located at 4000 New Jersey Avenue Wildwood, NJ.
What is the asking price?
The asking price for this property is $2,323,000.
What are key features of this property?
This property features: 2018‑built, single‑tenant Dollar General in Wildwood, NJ with an absolute triple‑net (NNN) lease; Initial 15‑year lease structure with 7 years remaining and three 5‑year options; 10% increases in each option period; Absolute NNN lease features a corporate guarantee
