BP Gas Station

Highlights:

• LONG TERM LEASE - The Property has operated as a successful gas station and convenience store for many years and features a new ten (10) year double net + lease that commenced in September 2021.
• BONUS DEPRECIATION - Fee simple ownership of a convenience store and Gas Station provides the landlord the opportunity to use accelerated Bonus depreciation model. Consulting your Accountant or Tax Attorney is advised.
• EXCELLENT TRAFFIC COUNTS - Approximately 49,200 vehicles per day pass BP on at the confluence of US Route 206 & US Route 130.
• MINIMAL MANAGEMENT RESPONSIBILITIES - The BP lease is double net + with the tenant responsible for all repairs and maintenance and replacement of HVAC, Roof and Structure to the property as well as the utilities, CAM, and Insurance. The Tenant also pays for all increases in RE Taxes over the base year, making this an attractive investment for the passive real estate investor.
• STRATEGIC LOCATION - The Property is situated at the convergence of US Route206 and US Route 130, two of the area’s primary commercial and commuter roadways. These two heavily trafficked roadways directly connect to Interstate295 (1-mile away) and Interstate 95 (1.5-miles away). The Property lies less than1-mile from downtown Bordentown and is surrounded by densely populated residential neighborhoods and enjoys convenient access to area schools and retailers. Bordentown is an affluent bedroom community of Philadelphia, located 30-miles northeast of the city.
• MARKET DRIVERS - Additional retailers drawing consumers to the trade area include Seven (7) Hotels/Motels, ShopRite, ALDI, Acme Markets, Tractor Supply, Dollar General, Pep Boys, AT&T, McDonald’s, Denny’s, Starbucks, 7-Eleven, Wawa, and Dunkin’.

Description:

Prime Net Lease is pleased to present the exclusive opportunity to purchase the single-tenant BP Gas Station located at 231 NJ Route 206 in Bordentown, New Jersey (the “Property”). The Property has been operating as a successful gas station for over 50 years! The Property is improved with a convenience store, eight (8) fueling stations, a propane filling station, and an on-site air station and vacuum. The Property features a recently signed 10-year Double Net lease with annual rent increases which commenced in September 2021.

An investor can take advantage of the tax benefits of Fee simple ownership of a convenience store and Gas Station provides, which gives the landlord the opportunity to use accelerated Bonus depreciation model. According to the TJCA, the property qualifies in two ways, with over 51% of gross revenues are derived from the sale of petroleum products and the C-store building is 1400 square feet or less. Consulting your Accountant or Tax Attorney is highly advised.

Property is situated at the convergence of US Route 206 and US Route 130, two of the area’s primary commercial and commuter roadways. These two heavily trafficked roadways directly connect to Interstate 295 (1-mile away) and Interstate 95 (1.5-miles away). The Property lies less than 1-mile from downtown Borden town and is surrounded by densely populated residential neighborhoods and enjoys convenient access to area schools and retailers. The Property enjoys good visibility, signage, and frontage along US Routes 130 & 206. Bordentown is an affluent bedroom community of Philadelphia, located 30-miles northeast of the city.

Bordentown is a city in Burlington County, New Jersey. Bordentown is located at the confluence of the Delaware River, Blacks Creek, and Crosswicks Creek. The latter is the border between Burlington and Mercer counties. Bordentown is the northernmost municipality in New Jersey that is considered a part of the Philadelphia-Camden-Wilmington Metropolitan Statistical Area. It is approximately one-third the distance between Center City Philadelphia and Midtown Manhattan, located 5.8 miles south of the state capital Trenton, 27 miles northeast of Center City Philadelphia, and 53 miles southwest of New York City. Conveniently located just minutes from the NJ Turnpike, Interstates 195 & 295, and Routes 130 & 206, providing easy access to the metropolitan area, Bordentown City is also home to a stop on the River Line – NJ TRANSIT’s light rail service offering connections to New York, Philadelphia, Atlantic City, and even Washington D.C.

In recent years, Bordentown City has become a regional destination point, offering something for everyone with its vibrant downtown commercial scene, public and private boating access, and more than 30 annual cultural and historical events, including the fall Cranberry Festival, the summer Garden Tour, the Street of Dreams classic car show, seasonal “chocolate walks,” and a revolutionary pub crawl. The “little city with a lot of charm” is not only rich with historical landmarks but offers a modern community for its residents. Residents and visitors alike love the walkability of historic Bordentown, along with its stunning architecture, boutiques, galleries, restaurants, pubs, breweries, and thriving outdoor dining scene. Downtown Bordentown offers a wide variety of stores for one’s shopping pleasure and has many book, record, and antique stores lining its streets. Enjoy dining at one of Bordentown’s many fine restaurants. The restaurants are primarily Italian, but there are also restaurants and diners that’s specialize in American food, Chinese food, and more recently Japanese and Latin-American food. Bordentown also boasts an abundance of green space, parks and trails and has a first-rate school system with multiple schools located within walking distance, making it the premiere location for young families looking to put down roots.

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