829 Blackwood-Clementon Rd, Lindenwold, NJ 08021

Property Details for 829 Blackwood-Clementon Rd

Year built

2023

Property type

Retail properties & Spaces

Property subtype

Retail space

Description

This exceptional investment opportunity presents a fee-simple interest in a brand-new (2023), 1,336 square foot Take 5 Oil Change located at 829 Blackwood-Clementon Rd, Lindenwold, NJ 08021. The property boasts a 15-year absolute NNN lease commencing February 1, 2024, and expiring January 31, 2039, with a remaining term of 14.5 years. The lease includes annual rent increases, providing a stable and predictable income stream. The asking price is $2,177,000, representing a 7.35% cap rate and a net operating income (NOI) of $160,000. This drive-thru oil change facility benefits from a prime location at a signalized intersection with high traffic counts (46,332 AADT combined at the intersection and 381,421 AADT on nearby major roadways). The property is situated in a thriving retail corridor with numerous national tenants and serves a large population base (215,245 residents within five miles) with a high average household income ($113,158 within five miles). The property's proximity to major roadways, including State Route 42, the New Jersey Turnpike, and U.S. Route 30, ensures excellent visibility and accessibility. Furthermore, its location near Jefferson Stratford Hospital and the Philadelphia metropolitan area further enhances its appeal. This is a turnkey investment with no landlord responsibilities, ideal for passive investors seeking a strong, long-term return. The tenant, Take 5 Oil Change, is a subsidiary of Driven Brands, Inc., a rapidly growing company with a significant market presence. The property qualifies for bonus depreciation.

Location Insight

City

Lindenwold

County

Camden

State

New Jersey

Longitude

-75.023

Latitude

39.8045