284 Washington Ave Carlstadt, NJ 07072-3085

Property Details for 284 Washington Ave

Year built

1970

Construction

CONCRETE BLOCKS

Lot size

1.60 lot acres

Property type

Commercial real estate

APN

05 00127-0000-00017-0000-HM

APU

05001270000000170000HM

Description

This exceptional investment opportunity presents a brand-new, 4,714 square foot 7-Eleven convenience store and gas station located at 284 Washington Ave, Carlstadt, NJ 07072. Built in 2024, this Class A property sits on a 1.28-acre lot and boasts a 15-year absolute NNN lease with a corporate guarantee, expiring November 30, 2039. The lease includes 10% rent bumps every five years, ensuring consistent income growth. The property generates a strong net operating income (NOI) of $402,200, resulting in a compelling 5.65% cap rate. This prime location benefits from exceptional visibility and accessibility at a signalized hard corner, with combined daily traffic counts exceeding 28,000 vehicles. The area is densely populated and affluent, with over 700,000 people residing within a 5-mile radius and an average household income exceeding $113,000 within a 3-mile radius. The property's proximity to MetLife Stadium, Teterboro Airport, and the Meadowlands Sports Complex further enhances its appeal. Significant tax benefits are available through accelerated depreciation and cost segregation, including a rare fuel sales reporting clause for bonus depreciation. This is a rare opportunity to acquire a high-performing, long-term net lease investment in a highly desirable location. The asking price is $7,120,000.

Location Insight

City

Carlstadt

County

Bergen

State

New Jersey

Longitude

-74.0539

Latitude

40.8335

CBSA code

35620

CBSA name

NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments