1131 2nd St Millville, NJ 08332-4236

Property Details for 1131 2nd St

Year built

1930

Construction

CONCRETE BLOCKS

Lot size

0.93 lot acres

Property size

14,002 SF

Property type

Commercial real estate

APN

10 00559-0000-00006

APU

1000559000000006

Description

This exceptional investment opportunity presents a fee-simple, single-tenant Dollar General store located at 1131 S 2nd St, Millville, NJ 08332. The 10,823 square foot building, constructed in 2011 and situated on a 1.14-acre lot, boasts a strong 8.00% cap rate and a Net Lease structure with minimal landlord responsibilities. The current lease, commencing September 30, 2011, and expiring April 29, 2029, includes two 5-year renewal options with attractive 10% rent increases at the start of each option. Dollar General, a credit-rated, investment-grade tenant (BBB/Baa2), has demonstrated a long-term commitment to this location, recently extending their lease. The property benefits from high visibility at the intersection of Arbutus Avenue and South 2nd Street (NJ Route 47), a primary commercial corridor, and enjoys proximity to major roadways including NJ Route 49 and NJ Highway 55. The property's strong location is supported by robust demographics, with over 24,700 people residing within a 3-mile radius and an average household income exceeding $130,000. Significant recent capital improvements include a new roof (2021, approx. $21,000) and a new sewer line (2021, approx. $27,000). The property generates a Net Operating Income (NOI) of $130,000, offering a compelling return on investment. This is a rare opportunity to acquire a high-performing, recession-resistant retail asset with a long-term, creditworthy tenant and significant upside potential. The asking price is $1,625,000.

Location Insight

City

Millville

County

Cumberland

State

New Jersey

Longitude

-75.0269

Latitude

39.3785

CBSA code

47220

CBSA name

VINELAND-MILLVILLE-BRIDGETON, NJ METROPOLITAN STATISTICAL AREA

Property Tax & Assessments