465 Nj-37 Toms River, NJ 08753
- Retail properties
- 2,325 SF
- 0.70 lot acres
Current Use by Public Records
- Retail properties
Property Details for 465 Nj-37
- Lot size
- 0.70 lot acres
- Property size
- 2,325 SF
- Property type
- Retail properties
- Property subtype
- Restaurants
Description
This exceptional investment opportunity presents a 2,325 square foot, newly constructed Chipotle restaurant in Toms River, New Jersey. Located at the signalized intersection of NJ-37 and Washington Street, this property boasts excellent visibility and accessibility, benefiting from high daily traffic volume (43,500+ VPD). The property features a drive-thru "Chipotlane" for convenient online order pickup. The 100% occupied property is under a 15-year NNN lease with Chipotle Mexican Grill (NYSE: CMG), a Fortune 500 company, with 14.1 years remaining and three 5-year renewal options. The lease includes a 10% rent increase every five years throughout the base term and option periods, ensuring consistent yield growth. The property sits on a 0.7-acre lot and benefits from a 15-year transferable manufacturer's roof warranty, minimizing potential maintenance costs. Toms River offers a dense, affluent demographic with average household incomes between $116,973 and $123,579 within a 5-mile radius. The property's strategic location is surrounded by numerous national retailers, further enhancing its appeal and value. The asking price is $2,840,000, representing a 5.00% cap rate and a price per square foot of $1,221.51. The annual net operating income (NOI) is $142,000. This is a rare opportunity to acquire a high-performing, low-maintenance investment property with a strong tenant and significant growth potential.
Value Estimation
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Toms River
- County
- Ocean
- State
- New Jersey
- Longitude
- -74.1625
- Latitude
- 39.9542
