Current Use by Public Records
- Industrial properties
Property Details for 136 Harding Ave
- Lot size
- 1.50 lot acres
- Property type
- Industrial properties
- Property subtype
- Manufacturing properties
Description
This exceptional investment opportunity presents a fee-simple, 42,119 square foot industrial distribution facility located in Bellmawr, New Jersey. The property, situated on 1.5 acres at 136 Harding Ave and 111 Coolidge Ave, is currently 100% occupied by Curaleaf, a major national operator, under an absolute NNN lease with a corporate guarantee. The lease commenced August 29, 2019, with a 10-year initial term and two 5-year renewal options, providing a remaining lease term of approximately 4.8 years. The current annual net operating income (NOI) is $1,521,550, representing a 9.75% cap rate on the asking price of $15,605,648. The property boasts a price per square foot of $370.51. Rent increases are structured at 3% annually, offering inflation protection. The building has undergone renovations in 2014, 2016, and 2017. This is a passive investment opportunity with zero landlord responsibilities, making it ideal for investors seeking a secure, high-yield asset backed by a strong national tenant. This property is part of a larger portfolio of five Curaleaf properties, offering the potential for a larger-scale investment. The master leases for the entire portfolio include a provision where renewal options are exercised simultaneously across all properties.
Value Estimations
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Bellmawr
- County
- Camden
- State
- New Jersey
- Longitude
- -75.1024
- Latitude
- 39.8641
