100 Egg Hbr Rd Washington Township, NJ 08080
- Grocery and convenience stores
- 5,585 SF
- 2.61 lot acres
Current Use by Public Records
- Grocery and convenience stores
Property Details for 100 Egg Hbr Rd
- Year built
- 2023
- Lot size
- 2.61 lot acres
- Property size
- 5,585 SF
- Property type
- Grocery and convenience stores
- Property subtype
- Gas stations
- APN
- 18 00007-0000-00006- 01
Description
This exceptional investment opportunity presents a brand-new, 5,585 square foot Wawa convenience store and gas station located at 100 Egg Harbor Rd, Washington Township, NJ 08080. The property sits on a 2.61-acre lot with 60 parking spaces and boasts a prominent location at a signalized, hard corner intersection of State Highway 47 (31,800 VPD) and Blackwood-Barnsboro Road (8,400 VPD). Built in 2023, this property features a 20-year absolute NNN ground lease with a credit-rated corporate guarantor, commencing December 1, 2023, and expiring December 31, 2043. The lease includes six 5-year renewal options and a 10% rent increase every five years. The current Net Operating Income (NOI) is $318,000, resulting in a 5.00% cap rate. The asking price is $6,360,000. This strategically positioned asset benefits from significant street frontage and multiple points of ingress/egress. Its proximity to major roadways, including easy access to Interstates 295, 95, 675, the New Jersey Turnpike, and the Atlantic City Expressway, enhances its appeal. Furthermore, the property's location near Rowan University (15,200 students) and Rowan College (6,600 students), as well as the Deptford Mall (over 1,000,000 square feet), contributes to a strong and growing customer base within a 5-mile radius boasting a population exceeding 181,000 individuals and an average household income exceeding $122,600. The property is also conveniently located 16 miles southeast of Philadelphia and approximately 50 miles northeast of Atlantic City. This is a rare opportunity to acquire a high-performing, low-maintenance investment property with a strong tenant and significant long-term growth potential. The property's Commercial zoning and APN 18 00007-0000-00006-01 are also noteworthy.
Value Estimation
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Washington Township
- County
- Gloucester
- State
- New Jersey
- Longitude
- -75.101112
- Latitude
- 39.78332
