612 Route 10 West, Livingston, NJ 07039

PetSmart, Inc. (Subleased to 6th Avenue Electronic

612 Route 10 West, Livingston, NJ 07039

• 

• Price:
  $5,378,000
• Building Size:
  18,178 SF
• Price/SF:
  $295.85
• Property Type:
  Retail
• Property Sub-type:
  Free Standing Bldg
• Property Use Type:
  Net Lease Investment with 5 years left on lease
• Cap Rate:
  8.75%
• Occupancy:
  100%
• Tenancy:
  Single
• Lot Size:
  2.31 AC
• Find Out More...

Last Verified  1/31/2011 Listing ID  16607606

Attachments

• Please **CLICK HERE** to view our full marketing flyer

Highlights

• The building is leased to PetSmart, Inc (S&P: BB) and subleased at a profit to 6th Avenue Electronics
• 5 years remaining on an absolute NNN lease - Two (5) year options with 22% escalations
• High visibility corner location with stop light and traffic counts over 40,090 vpd on a major retail corridor

• Property is located on Route 10, west of the Eisenhower Parkway. Other area retailers include Home Depot, Marshalls, Toys R Us, Barnes & Noble and
• There are approximately 135,000 people within a five mile radius with an annual average income of over $156,000
• Building is designed to be converted to multi-tenant

Description

EXP Realty Advisors presents for sale this investment opportunity consisting of an 18,178 sf building located on 2.31 acres of land. This is a NNN (triple net) investment with 5 years remaining on base term and two (5) year options. There are 22% escalations at start of each option period.

The property was constructed in July of 1995 and is located one-half miles west of the Livingston Circle at the intersection of Route 10 and Okner Parkway near highways 609 and 508. Other retailers within the area include Home Depot, Marshalls, Toys R Us, Barnes & Noble, Linens 'n Things, Computer City and Sports Authority. Livingston is located 21 miles from New York City and is noted for its strong public school system. The current owner is collecting $1.00 psf directly from 6th Avenue Electronics in connection with its sublease from PetSmart. The building is shallow and was constructed to accommodate conversion to multi-tenant use.

Financial Summary

Major Tenant Information

• Actual
• Year
  2010
• Net Operating Income
  $488,806