142 Nj-73 Voorhees Township, NJ 08043

Property Details for 142 Nj-73

Year built

2018

Lot size

1.81 lot acres

Property size

19,054 SF

Property type

Retail properties

Property subtype

Grocery and convenience stores

Description

This exceptional investment opportunity presents a 19,054-square-foot Aldi grocery store located at 142 NJ-73 in Voorhees Township, NJ. The property sits on a 1.81-acre lot and boasts a strong 5.10% cap rate, with a Net Lease (NNN) structure. Built in 2018, the property is currently 100% occupied under a 20-year ground lease with Aldi, a leading discount grocery chain. The lease commenced May 1, 2018, and expires April 30, 2038, leaving approximately 13.4 years remaining. The lease includes four 5-year renewal options with a 10% rent increase every five years. The current annual net operating income (NOI) is $252,400, resulting in a price per square foot of $259.74. The ground lease also expires April 30, 2038, with approximately 13.7 years remaining. This prime retail location benefits from its proximity to major retailers like Lowe's and BJ's Wholesale, and a nearby hospital, ensuring high visibility and consistent traffic. The property offers a secure, long-term investment with a proven tenant and significant upside potential. This is a rare opportunity to acquire a high-performing, single-tenant net lease property in a desirable location.