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    1111 High St Millville, NJ 08332

    Sponsored
    For Sale
    $4,450,000

    High-yield, NNN Walgreens in NJ

    Property size:
    14,490 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    395
    This exceptional investment opportunity presents a 14,490 square foot Walgreens pharmacy, situated on a 1.95-acre lot at a hard corner, signalized intersection in Millville, New Jersey. The property boasts a strong location with multiple access points from N. High St, N. 2nd Ave, and W. Harrison Ave, benefiting from combined traffic counts exceeding 24,506 vehicles per day. The absolute NNN lease, featuring a corporate guarantee from Walgreens, offers zero landlord responsibilities and provides significant peace of mind. With 4 years remaining on the original 25-year lease (with 10, 5-year options), this investment offers a stable and predictable income stream. The property's NOI is $375,000, resulting in an attractive 8.43% cap rate. Built in 2003, the property benefits from its proximity to major employers like ARC International (over 1,000 employees) and Inspira Medical Center (262-bed facility). The surrounding area includes national tenants such as Target, Walmart, Lowe's, and more, further enhancing the property's value and desirability. The asking price is $4,450,000, translating to $307.11 per square foot. The strong demographics, with a 5-mile radius population exceeding 54,142 and an average household income of $83,909, contribute to the long-term viability of this investment. This is a rare opportunity to acquire a high-performing, net-leased Walgreens property with a proven track record and significant upside potential.

    Property Features for 1111 High St

    General Information

    Property type
    Individual retail properties
    Square Feet
    14,490 SF
    Lot Size
    84,942 SF

    Building Details

    Year Built
    2003

    HighLights

    • Absolute Net Lease; zero landlord responsibilities.
    • Four years remaining on a 25‑year lease.
    • Multiple access points from N. High St, N. 2nd Ave, and W. Harrison Ave.
    • Hard corner, signalized intersection location.
    • Corporate guarantee from Walgreens (9,000+ locations).
    • Combined traffic counts exceeding 24,506 vehicles per day.
    Property Profile Location Intelligence

    Current Use by Public Records

    Keith W. Wallace, ... Pharmacy Jennifer K. Wong, ... Pharmacy Cardtronics ATM Atm Walgreens Pharmacy Pharmacy Redbox Movie Rental Kiosk

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Millville
    County
    Cumberland
    State
    New Jersey
    Longitude
    -75.039125163216
    Latitude
    39.409752026807

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    FAQs

    What type of property is this?
    Individual retail property - High-yield, NNN Walgreens in NJ
    Where is this individual retail property located?
    The property is located at 1111 High St Millville, NJ.
    What is the asking price?
    The asking price for this property is $4,450,000.
    What are key features of this property?
    This property features: Absolute Net Lease; zero landlord responsibilities.; Four years remaining on a 25-year lease.; Multiple access points from N. High St, N. 2nd Ave, and W. Harrison Ave.
    Request Owner's contact information
    1111 High St Millville, NJ 08332
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    Millville, NJ 08332
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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
    1111 High St Millville, NJ 08332
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