586 Berlin - Cross Ky Rd Winslow Township, NJ 08081
- Specialty properties
- 1,800 SF
- 1.13 lot acres
Current Use by Public Records
- Specialty properties
Property Details for 586 Berlin - Cross Ky Rd
- Lot size
- 1.13 lot acres
- Property size
- 1,800 SF
- Property type
- Specialty properties
- Property subtype
- Car washes
Description
This exceptional investment opportunity presents a thriving, fully occupied car wash located at 586 Berlin-Cross Keys Rd, Winslow Township, NJ 08081. The property boasts a substantial 1,800 square foot building situated on a 1.13-acre lot. Currently operating under a long-term, absolute triple-net (NNN) lease, this asset offers significant financial stability with a remaining lease term of approximately 18.3 years, expiring February 28, 2043. The lease commenced March 31, 2022, and includes a favorable 1.75% annual rental increase, ensuring consistent income growth. The property's strong performance is reflected in its impressive 7.00% cap rate and a Net Operating Income (NOI) of $380,353. The asking price is $5,433,614, translating to a price per square foot of $3,018.67. The car wash underwent complete renovations in 2022, ensuring modern facilities and operational efficiency. This prime location in the affluent core New Jersey market makes this a highly desirable investment, offering a secure and lucrative return for years to come. The property's 100% occupancy further solidifies its financial strength and potential for continued success. This is a rare opportunity to acquire a high-performing, long-term leased car wash in a desirable market.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Winslow Township
- County
- Camden
- State
- New Jersey
- Longitude
- -75.0015
- Latitude
- 39.7375
