152 Broadway Pennsville, NJ 08070-1418

Property Details for 152 Broadway

Year built

2020

Construction

FRAME

Lot size

1.10 lot acres

Property size

1,488 SF

Zone code

4/0

Property type

Commercial real estate

APN

09 01505-0000-00016

APU

901505000000016

Description

This exceptional investment opportunity presents a freestanding Dollar General store located at 152 N Broadway, Pennsville Township, NJ 08070. Built in 2020, this 10,566 square foot, single-story building sits on a 1.1-acre lot and boasts 31 parking spaces. The property benefits from an absolute NNN lease with zero landlord responsibilities, providing significant passive income. The lease, expiring November 15, 2033, includes four to five-year renewal options with 10% rent increases at each option. The tenant, Dollar General (NYSE: DG), holds an investment-grade credit rating (BBB by Standard & Poor's), ensuring financial stability. The property enjoys a high-traffic location with over 17,300 vehicles per day on N Broadway, and is conveniently situated approximately 1.5 miles from the Delaware Memorial Bridge, nine miles from Wilmington, DE, and 36 miles from Philadelphia, PA. The average household income within a one-mile radius exceeds $94,000, indicating a strong consumer base. The property's current NOI is $134,883, resulting in a 6.50% cap rate, and is offered at an asking price of $2,075,000. The property is zoned CM. This is a compelling investment opportunity with strong tenant credit, long-term lease, and excellent location.

Location Insight

City

Pennsville

County

Salem

State

New Jersey

Longitude

-75.5106

Latitude

39.6629

CBSA code

37980

CBSA name

PHILADELPHIA-CAMDEN-WILMINGTON, PA-NJ-DE-MD METROPOLITAN STATISTICAL AREA

Property Tax & Assessments