1349 Blackwood-Clementon Rd Clementon, NJ 08021
- Retail properties
- 2,200 SF
- 1.29 lot acres
Current Use by Public Records
- Retail properties
Property Details for 1349 Blackwood-Clementon Rd
- Year built
- 1988
- Lot size
- 1.29 lot acres
- Property size
- 2,200 SF
- Property type
- Retail properties
- Property subtype
- Auto shops
Description
This fee-simple retail property in Clementon, NJ, offers a compelling investment opportunity. The 2,200 square foot Jiffy Lube, located at 1349 Blackwood-Clementon Rd (APN: 15 20303-0000-00003), sits on a 1.29-acre lot and boasts 12 parking spaces. Built in 1988 and renovated in 2018, the single-story building is zoned GB and benefits from a 10-year absolute net lease (commencing 12/31/2017 and expiring 12/31/2028) with five years remaining. The lease includes two 5-year renewal options, with annual rent increases tied to the greater of CPI or 2.5%, providing inflation protection. The current NOI is $87,693, resulting in an 8.77% cap rate and a price per square foot of $454.55. The property enjoys 100% occupancy and benefits from its strategic location near Route 42, connecting Atlantic City and Philadelphia, and close proximity to Camden County College. The surrounding area shows strong demographics, with average household incomes within 3 and 5 miles exceeding $88,416 and $96,755 annually. This Jiffy Lube location has operated successfully for nearly 30 years, demonstrating long-term viability and consistent performance. The asking price is $1,000,000.
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
- Clementon
- County
- Camden
- State
- New Jersey
- Longitude
- -75.0331
- Latitude
- 39.8041
