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    1200 Nj-35 Middletown Township, NJ 07748

    Sponsored
    For Sale
    $10,900,000

    High-traffic location, strong tenant, excellent ROI.

    Property size:
    13,567 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional investment opportunity presents a net-leased CVS Pharmacy located at 1200 NJ-35, Middletown Township, NJ 07748. The property boasts a 13,567 square foot building situated on a 1.91-acre lot at a highly visible corner intersection of Route 35 and New Monmouth Road, benefiting from significant daily traffic counts exceeding 30,000 and 11,000 vehicles respectively. The 2019-constructed building is 100% occupied under a 25.7-year lease with CVS Pharmacy, a tenant with an investment-grade credit rating (BBB+ S&P, Baal Moody's). The current lease, commencing June 3, 2019, and expiring January 31, 2045, has a remaining term of approximately 20.2 years. Eight five-year renewal options are included, each with a 10% rent increase. The asking price is $10,900,000, representing a price per square foot of $803.42 and a 5.40% cap rate based on a net operating income (NOI) of $588,825. The property's location within a thriving retail area, coupled with strong demographics (over 50,000 residents within a 3-mile radius, average household income exceeding $130,000), makes this a compelling investment prospect. This is a single-tenant, net lease investment with a strong, creditworthy tenant and significant remaining lease term.

    Property Features for 1200 Nj-35

    General Information

    Property type
    Individual retail properties
    Square Feet
    13,567 SF
    Lot Size
    83,200 SF

    HighLights

    • 21‑year remaining lease term on a 25‑year initial lease with eight 5‑year renewal options, each with a 10% rent increase.
    • 2019‑constructed building.
    • Investment‑grade tenant, CVS Health Corporation (NYSE: CVS), with a BBB+ (S&P) and Baa1 (Moody's) credit rating.
    • Signalized corner lot at Route 35 and New Monmouth Road.
    • High traffic counts: Route 35 (30,000+ VPD), New Monmouth Road (11,000+ VPD).
    • Strong demographics: Over 50,000 residents within a 3‑mile radius, average household income exceeding $130,000.
    Property Profile Location Intelligence

    Current Use by Public Records

    Drug stores

    Map

    City
    Middletown Township
    County
    Monmouth
    State
    New Jersey
    Longitude
    -74.1135644
    Latitude
    40.3979425

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    FAQs

    What type of property is this?
    Individual retail property - High-traffic location, strong tenant, excellent ROI.
    Where is this individual retail property located?
    The property is located at 1200 Nj-35 Middletown Township, NJ.
    What is the asking price?
    The asking price for this property is $10,900,000.
    What are key features of this property?
    This property features: 21-year remaining lease term on a 25-year initial lease with eight 5-year renewal options, each with a 10% rent increase.; 2019-constructed building.; Investment-grade tenant, CVS Health Corporation (NYSE: CVS), with a BBB+ (S&P) and Baa1 (Moody's) credit rating.
    Request Owner's contact information
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    Middletown Township, NJ 07748
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1200 Nj-35 Middletown Township, NJ 07748
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