55 White Horse Pike Audubon, NJ 08106
- Retail properties
- 1,866 SF
- 0.35 lot acres
Current Use by Public Records
- Retail properties
Property Details for 55 White Horse Pike
- Year built
- 1996
- Lot size
- 0.35 lot acres
- Property size
- 1,866 SF
- Property type
- Retail properties
- Property subtype
- Auto shops
Description
Exceptional investment opportunity: a fee-simple 1,866 square foot Jiffy Lube in Audubon, NJ (08106), located at 55 N White Horse Pike. This property boasts a 10-year net lease (commencing December 31, 2017, and expiring December 31, 2028), with five years remaining. The lease includes two 5-year renewal options, featuring annual rent increases of 2.5% or CPI, whichever is greater, providing inflation protection. The current asking price is $1,000,000, representing a 7.22% cap rate and a price per square foot of $584.14. The property generates a net operating income (NOI) of $72,191 annually, with 100% occupancy. Built in 1996 and renovated in 2018, this single-tenant retail property sits on a 0.35-acre lot and includes 8 parking spaces. The property is zoned C and has an APN of 01 00029-0000-00002. The tenant, Jiffy Lube, is operated by Team Car Care Group, one of the largest Jiffy Lube operators in the country, ensuring long-term stability. The location benefits from high average household incomes within a 3-mile radius ($89,287-$91,828) and its strategic position along Route 30, connecting Atlantic City and Philadelphia, within a dense retail and residential area. This property offers a compelling investment opportunity with a strong tenant, long lease term, and significant upside potential.
Value Estimation
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CAP approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Audubon
- County
- Camden
- State
- New Jersey
- Longitude
- -75.0728
- Latitude
- 39.8983
