2941 Nj-73 Maple Shade, NJ 08052
- Lifestyle centers
- 32,160 SF
Current Use by Public Records
- Lifestyle centers
Property Details for 2941 Nj-73
- Property size
- 32,160 SF
- Property type
- Lifestyle centers
- Property subtype
- Power centers
Description
This exceptional mixed-use property in Maple Shade, NJ, presents a compelling value-add investment opportunity. Located at 2941 NJ-73, this property comprises two buildings totaling 32,160 square feet on a 100-space parking lot. The complex includes a 17,750 square foot shopping center with five retail units and a vacant storage unit convertible to additional retail space, plus a 14,410 square foot office building currently leased to the Drug Enforcement Administration under a NNN lease expiring December 19, 2027. Built in 1990 and 2002, the property boasts a 92% occupancy rate, generating a current NOI of $527,100 and a pro-forma NOI of $694,853, representing a 7.58% cap rate and a pro-forma cap rate of 10.00%, respectively. The asking price is $6,950,000, translating to $216.11 per square foot and $992,857.14 per unit. The property's strong tenant mix, including a stable government agency lease, and the potential for increased rental income from the vacant space offer significant upside for investors. The current lease terms are NNN with a remaining term of approximately 3.1 years. This investment presents a rare opportunity to acquire a well-located, mixed-use property in a thriving retail market with significant potential for value appreciation.
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
- Maple Shade
- County
- Burlington
- State
- New Jersey
- Longitude
- -74.9875
- Latitude
- 39.9537
