1111 High St Millville, NJ 08332

Property Details for 1111 High St

Year built

1963

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

1.95 lot acres

Zone code

B-4

Property type

Commercial real estate

APN

10 00281-0000-00001

APU

1000281000000001

Description

This exceptional investment opportunity presents a 14,490 square foot Walgreens pharmacy, situated on a 1.95-acre lot at a hard corner, signalized intersection in Millville, New Jersey. The property boasts a strong location with multiple access points from N. High St, N. 2nd Ave, and W. Harrison Ave, benefiting from combined traffic counts exceeding 24,506 vehicles per day. The absolute NNN lease, featuring a corporate guarantee from Walgreens, offers zero landlord responsibilities and provides significant peace of mind. With 4 years remaining on the original 25-year lease (with 10, 5-year options), this investment offers a stable and predictable income stream. The property's NOI is $375,000, resulting in an attractive 8.43% cap rate. Built in 2003, the property benefits from its proximity to major employers like ARC International (over 1,000 employees) and Inspira Medical Center (262-bed facility). The surrounding area includes national tenants such as Target, Walmart, Lowe's, and more, further enhancing the property's value and desirability. The asking price is $4,450,000, translating to $307.11 per square foot. The strong demographics, with a 5-mile radius population exceeding 54,142 and an average household income of $83,909, contribute to the long-term viability of this investment. This is a rare opportunity to acquire a high-performing, net-leased Walgreens property with a proven track record and significant upside potential.

Location Insight

City

Millville

County

Cumberland

State

New Jersey

Longitude

-75.0389

Latitude

39.4093

CBSA code

47220

CBSA name

VINELAND-MILLVILLE-BRIDGETON, NJ METROPOLITAN STATISTICAL AREA

Property Tax & Assessments