3600 Nj-35 Hazlet, NJ 07730

Property Details for 3600 Nj-35

Year built

1997

Lot size

0.38 lot acres

Property size

12,000 SF

Property type

Retail properties

Property subtype

Retail space

Description

This exceptional investment opportunity presents a 12,000 square foot Dollar Tree retail property located at 3600 NJ-35, Hazlet, NJ 07730, in Monmouth County. The property, built in 1997 and situated on a 0.38-acre lot, boasts a strong 8.65% cap rate and a substantial net operating income (NOI) of $180,000. The leasehold investment features a credit-rated, corporate-guaranteed tenant with a remaining lease term of 6.2 years, extending to January 31, 2031. Three additional five-year renewal options are included, each with a $6,000 annual rent increase. The property benefits from a double net (NN) lease structure, with the landlord responsible for roof and structure maintenance. A significant advantage is the ground lease, expiring January 31, 2096, with over 71 years remaining and a nominal annual rent of $1. This leasehold structure allows for 100% depreciation of improvements, maximizing after-tax returns. The property enjoys a prime location on Route 35, a major retail corridor with over 43,000 vehicles per day, less than a mile from the Garden State Parkway (93,000+ VPD). It benefits from strong demographics, with over 136,000 people and average household incomes exceeding $133,000 within a 5-mile radius. The property is also ideally situated near other major retailers, including Home Depot, CVS, Stop & Shop, and more, further enhancing its value and potential. The asking price is $2,080,924. This is a 100% occupied, single-tenant property offering a secure and profitable investment opportunity.

Location Insight

City

Hazlet

County

Monmouth

State

New Jersey

Longitude

-74.1982

Latitude

40.4236