7416 Tonnele Ave North Bergen, NJ 07047
- Retail properties
- 4,235 SF
- 1.00 lot acres
Current Use by Public Records
- Retail properties
Property Details for 7416 Tonnele Ave
- Year built
- 2021
- Lot size
- 1.00 lot acres
- Property size
- 4,235 SF
- Property type
- Retail properties
- Property subtype
- Restaurants
Description
This exceptional investment opportunity presents a brand-new, 4,235 square foot Chick-fil-A restaurant with a drive-thru, located at 7416 Tonnele Ave, North Bergen, NJ 07047. The property sits on a one-acre lot and boasts a Class A, NNN ground lease with a corporate guarantee, extending until May 31, 2041 – a remaining term of 16.5 years. The asking price is $5,512,500, representing a 4.00% cap rate and a strong NOI of $220,500. Built in 2021, this location benefits from a strategic position along a major retail corridor with daily traffic exceeding 35,000 vehicles, ensuring high visibility and accessibility. The lease includes rent bumps of 10% every five years, starting with a 12.50% increase in 2031. The property's prime location is within a densely populated and affluent area, with over 1.66 million people residing within a five-mile radius and an average household income exceeding $134,000 within a three-mile radius. This area is further enhanced by its proximity to MetLife Stadium and Teterboro Airport. The Chick-fil-A is situated directly across from The Home Depot and surrounded by numerous national retailers, including Walmart, Target, Lowe's, BJ's Wholesale, ALDI, and Harbor Freight. This presents a compelling investment opportunity with significant long-term growth potential, backed by a highly successful and reputable tenant. The price per square foot is $1,301.65.
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
- North Bergen
- County
- Hudson
- State
- New Jersey
- Longitude
- -74.019
- Latitude
- 40.8036
