8 Haddon Ave Haddon Township, NJ 08108-2706

Property Details for 8 Haddon Ave

Year built

2001

Lot size

1.31 lot acres

Property size

14,230 SF

Property type

Commercial real estate

APN

16 00020- 16-00025

APU

16000201600025

Description

This exceptional investment opportunity presents a fee-simple, single-tenant Walgreens located at 8 Haddon Ave, Haddon Township, NJ 08108. The 14,368 square foot property sits on a 1.17-acre lot and boasts a strong 6.75% cap rate, generating a net operating income (NOI) of $473,670. The property is currently 100% occupied under an absolute NNN lease with Walgreens, a credit-rated tenant, with 12.9 years remaining on the lease term (expiring September 30, 2037). The lease commenced September 17, 2001, and includes ten 5-year lease options. The asking price is $7,017,000, translating to a price per square foot of $488.38. Built in 2001, this Walgreens consistently ranks in the top 9% of drugstores nationwide for foot traffic and is the highest-trafficked Walgreens within a 5-mile radius. Its prime location, approximately 6 miles east of downtown Philadelphia and near major shopping centers like Garden State Park and Cherry Hill Mall, ensures continued high visibility and customer traffic. This is a truly exceptional net lease investment with minimal management responsibilities and a demonstrably strong tenant commitment, as evidenced by a recent early lease extension. The property is ideal for 1031 exchange purposes.

Location Insight

City

Haddon Township

County

Camden

State

New Jersey

Longitude

-75.0564

Latitude

39.9125

CBSA code

37980

CBSA name

PHILADELPHIA-CAMDEN-WILMINGTON, PA-NJ-DE-MD METROPOLITAN STATISTICAL AREA

Property Tax & Assessments