720 Washington Ave Carlstadt, NJ 07072
Long-term cash flowing asset with a well-regarded tenant.
Property size:
5,496 SFLot size:
2.28 AcresProperty Features for 720 Washington Ave
General Information
- Size
- 5,496 SF
- Lot size
- 2.28 Acres
Source:
Moodyscre
Listing 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.
Location Intelligence
Current Use by Public Records
Quick Chek
Convenience Store
PNC Bank ATM
Atm
PNC ATM
Atm
Continental Baking Co
Wholesale Bakery
Location Insight
- Map
- Local Demand
- City
- Carlstadt
- County
- Bergen
- State
- New Jersey
- Longitude
- -74.056277
- Latitude
- 40.826659
Nearby Similar for Sale
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.