AutoZone | Hub Store

$6,150,000

977 Bloomfield Avenue, Clifton, NJ 07012

For Sale

Retail Free Standing

Pending

Last Updated: 06/01/2021

Details:

Cap Rate: 5%

NOI: $307,461

Building Size: 13,484 sqft

Lot Area: 0.82 acres

Lease Type: Absolute Net

Year Built: 1954

Price Per Sqft: $456.10

Offered by

Ned Hennessey

Sands Investment Group

#Lic. # 315477

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Gary W. Berwick

Sands Investment Group

#Lic. # 312724

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Highlights:

~13 Years Remaining on an Absolute Triple Net (NNN) Lease – No Landlord Responsibility
Recently Renewed Lease – Showing Commitment to Site
Strong 25 Year Operating History
AutoZone, Inc. Corporate Guarantee - Investment Grade National Credit Tenant (BBB+)
Tenant is Paying Below Market Rent
Shadow Anchored By Home Depot
High Barrier to Entry Market
This Location is a Feeder Store Which Supplies All Other AutoZone Stores in the Region
Essential Business - E-Commerce, Recession and COVID Proof Tenant
Just Off NJ Route 3 Which Sees Over 151,600 VPD
Strong Demographics - Population of Over 626,309 Residents Within a 5-Mile Radius Making an Average Household Income of $102,365
Nearby Tenants Include: Walgreens, CVS Pharmacy, Dunkin’, Sherwin Williams, Modell’s Sporting Goods, Dollar Tree, Old Navy, Petco, Trader Joe’s, Target, Kohl’s, Starbucks, Costco, Chipotle and More

Description:

We Are Pleased to Present For Sale the 13,484 SF AutoZone Located at 977 Bloomfield Avenue in Clifton, NJ. This is a Hub Location That Acts as a Feeder Store to All Other AutoZone Locations in the Region. This Thriving Store Which Operates Under an Absolute Triple Net Lease, Tenant Recently Renewed Lease, Showing Commitment to Site While Providing For a Best-of-Class Investment With Income Growth of an Established Tenant in a Highly Desirable New Jersey Market.