Walgreens - Midnight Store

1111 N High St, Millville, NJ

$4,690,000

Price

8%

Cap Rate

$375,000

NOI

Overview
Cap Rate
8%
NOI
$375,000
Building Size
14,490 sqft
Lot Area
1.95 acres
Year Built
2003
Description

.

Millville is a city in Cumberland County, New Jersey, United States. As of the 2010 United States Census, the city's population was 28,400, reflecting an increase of 1,553 (+5.8%) from the 26,847 counted in the 2000 Census, which had in turn increased by 855 (+3.3%) from the 25,992 counted in the 1990 Census. Millville, Bridgeton and Vineland are the three principal New Jersey cities of the Vineland-Millville-Bridgeton Primary Metropolitan Statistical Area which encompasses those cities and all of Cumberland County for statistical purposes.

Millville was originally incorporated as a township by an act of the New Jersey Legislature on February 24, 1801, from portions of Fairfield Township. Portions of the township were taken to form Landis Township on March 7, 1864. Millville was reincorporated as a city on March 1, 1866, based on the results of a referendum passed that same day. The city derives its name from a proposal to create a mill town in the area. Around 1720, a sawmill was believed to have existed at Leaming's Mill, known as "Shingle Landing" in its earliest days. The area also had a public road, a boat landing, and a bridge-like structure. In 1790, Joseph Smith and Henry Drinker purchased 24,000 acres (97 km2) of land known as the Union Mills Tract. They formed the Union Estates Company, built lumber mills along the Maurice River and established a dam to power these new mills. Joseph Buck, an American Revolutionary War veteran who served under General George Washington, was part of a group that purchased the land in the area in 1795 and laid out the plans for what would become Millville.

Highlights
  • Absolute Net Lease | Zero Landlord Responsibilities
  • 4.5+ Years Remaining on Original 25 Year Term
  • Multiple Access Points | Accessible from N. High St, N. 2nd Ave & W. Harrison Ave
  • Hard Corner Signalized Intersection
  • Corporate Guarantee | Walgreens | (S&P: "BBB")
  • Combined Traffic Counts in Excess of 24,506 VPD+
  • Less Than 10 Minutes from Inspira Medical Center | 262-Bed Facility
  • Major Local Employer is ARC International | Over 1,000 Employees
  • Population within a 5 Mile Radius Exceeds 53,716
  • 5 Mile Average Household Income is $78,159
  • National Tenants Surrounding the Immediate Area Include: Target, Walmart, Lowe’s, Hobby Lobby, McDonald's, 7-Eleven, Wawa and Many Others

Location
Gallery