148 Nj-73 Voorhees Township, NJ 08043

Property Details for 148 Nj-73

Year built

2015

Lot size

1.46 lot acres

Property size

10,686 SF

Property type

Lifestyle centers

Property subtype

Power centers

Description

This exceptional investment opportunity presents a 10,686 square foot, multi-tenant retail property located in the thriving Voorhees Township, New Jersey. The property, built in 2015, boasts a diverse tenant mix including Starbucks (with a drive-thru), Vitamin Shoppe, UPS Store, Orangetheory Fitness, and Livani Jewelry. Five tenants currently occupy the space, resulting in a 100% occupancy rate and a strong net operating income (NOI) of $378,794, yielding a 7.00% cap rate. The asking price is $5,411,342, translating to $506.40 per square foot. The property sits on a 1.46-acre lot and benefits from a Net Lease (NNN) structure, minimizing landlord responsibilities. Leases feature built-in rent growth, with some tenants experiencing annual increases and significant increases during option periods. The property enjoys high visibility and accessibility on Route 73, a major thoroughfare with high traffic volume (41,879 vehicles per day). Its strategic location across from Virtua Health's expansive healthcare campus further enhances its appeal. The surrounding area is affluent, with average household incomes exceeding $256,000 within a one-mile radius. The property is part of the larger Cedar Hill Shopping Center, anchored by national brands like BJ's Wholesale Club, Lowe's, and shadow-anchored by ALDI, providing significant synergy and foot traffic. This is a passive ownership opportunity due to the NNN lease structure and condo association management of common areas.