310 Egg Hbr Rd Washington Township, NJ 08080
- Office buildings
- 4,124 SF
- 0.94 lot acres
Current Use by Public Records
- Relievus / Pain Management Physician
- South Jersey Pain Spine Physicians / Pain Management Physician
- Dr. Shailen Jalali,MD / Anesthesiologist
- Seczech Laura E / Nursing Agency
- Bsgsg / Employment Agency
Property Details for 310 Egg Hbr Rd
- Year built
- 2000
- Construction
- METAL FRAME
- Lot size
- 0.94 lot acres
- Property size
- 4,124 SF
- Zone code
- PR1
- Property type
- Office buildings
- APN
- 18 00194- 30-00004
- APU
- 18001943000004
Description
This 4,100 sq ft single-tenant pharmacy in Washington Township, NJ, offers a compelling value-add investment opportunity. Located at 310 Egg Harbor Rd, the property boasts a 100% occupancy rate with a corporate-guaranteed lease from Clearway Pain Solutions, the parent company of Relievus, a tenant with over 20 years of successful operation at this location. The recently extended 5-year lease includes a 3% annual rent increase, ensuring consistent income growth. The property generates a strong NOI of $67,962, resulting in a 6.93% cap rate, and is priced at $980,000 ($239.02/sq ft). Situated in the affluent Sewell area, the property benefits from high traffic counts on nearby major roadways (Atlantic City Expressway and Route 55), proximity to Jefferson Washington Township Hospital (undergoing a $222 million revitalization), and a strong demographic profile with an average household income exceeding $147,000 within a 3-mile radius. The property includes ample parking (5.35 spaces per 1,000 sq ft) and is strategically positioned near Rowan University and Gloucester Premium Outlets, further enhancing its investment appeal. Built in 2000, this well-maintained building presents a stable and lucrative investment opportunity with significant upside potential. The property's location within a thriving medical hub, coupled with the long-term lease and strong tenant, makes it an attractive addition to any portfolio. The 6 years remaining on the lease provide long-term stability and predictable cash flow.
Value Estimation
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- Sewell
- County
- Gloucester
- State
- New Jersey
- Longitude
- -75.085
- Latitude
- 39.7642
- CBSA code
- 37980
- CBSA name
- PHILADELPHIA-CAMDEN-WILMINGTON, PA-NJ-DE-MD METROPOLITAN STATISTICAL AREA
