1659 Nj-38 Mount Holly, NJ 08060
- Specialty properties
- 6,200 SF
- 1.76 lot acres
Current Use by Public Records
- Specialty properties
Property Details for 1659 Nj-38
- Year built
- 1970
- Lot size
- 1.76 lot acres
- Property size
- 6,200 SF
- Property type
- Specialty properties
- Property subtype
- Car washes
Description
This exceptional investment opportunity presents a 6,200 square foot, fully occupied car wash located at 1659 NJ-38, Mount Holly, NJ 08060. The property sits on a 1.76-acre lot and boasts a strong 7.00% cap rate, generating a substantial net operating income (NOI) of $457,780. The asking price is $6,539,714, translating to a price per square foot of $1,054.79. Built in 1970, this single-tenant property benefits from a long-term, 21-year absolute triple-net (NNN) lease, commencing April 1, 2023, and expiring March 30, 2044, leaving over 19 years remaining. The lease includes a favorable 2% annual rental increase. The car wash enjoys exceptional visibility due to its location across from Lumberton Plaza Mall and its high-traffic position on Route 38 and the Mount Holly Bypass, seeing 38,900 and 37,100 vehicles daily, respectively. This prime location is further enhanced by an affluent consumer base with an average household income exceeding $111,000, creating an ideal market for automotive services. The property offers zero landlord responsibilities, making it an attractive, low-maintenance investment. This is a rare opportunity to acquire a stable, high-performing car wash in a desirable New Jersey market.
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
- Mount Holly
- County
- Burlington
- State
- New Jersey
- Longitude
- -74.7818
- Latitude
- 39.9829
