CHICK-FIL-A w/ DR-THRU | NEW YORK CITY METRO 7416 Tonnelle Ave 4,235 SF Retail Building North Bergen, NJ 07047 £3,915,166 (£924.48/SF) 4.35% Net Initial Yield
INVESTMENT HIGHLIGHTS
- 16 Year NNN Ground Lease Featuring a 12.50% Rental Increase in 2031 and 10% Increase Every 5-Years Thereafter throughout the Initial Term & Options.
- Extremely Dense & Affluent Area w/ over 1.66M People Residing w/in a 5-Mile Radius - Average Household Income of $134k+ within a 3-Mile Radius.
- In Close Proximity to MetLife Stadium - Home of the New York Giants and the New York Jets.
- Chick-fil-A named the #1 Fast-Food Restaurant in America with Annual Sales of Nearly $19 Billion and Average Sales Per Unit of $8.5 Million.
- Positioned Along Area’s Major Retail & Traffic Corridor: Features Easy Access & Excellent Visibility to Daily Traffic Counts Exceeding 35k Vehicles.
- Located in one of the World’s Most Competitive and Highly Sought after Metros - The Site is in a Dense, Mixed-use, In-fill location.
EXECUTIVE SUMMARY
New Jersey Broker of Record: John Horowitz | 250 Pehle Ave., Suite 501 Saddle Brook, NJ 07663 | P: (201) 742-6100 | Lic #: 2192359 | John.Horowitz@MarcusMillichap.com
Long Term NNN Ground Lease | New Construction | Urban Infill High Quality Investment | Densely Populated Area: 1.66M+ People living within 5-Mile Radius
Long Term NNN Ground Lease | New Construction | Urban Infill High Quality Investment | Densely Populated Area: 1.66M+ People living within 5-Mile Radius
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
4,235 SF
Building Class
C
Year Built
2021
Price
£3,915,166
Price Per SF
£924.48
Net Initial Yield
4.35%
NOI
£170,310
Tenancy
Single
Number of Floors
1
Slab to Slab
10 ft
Building FAR
0.10
Lot Size
1.00 AC
Zoning
C-2
Parking
36 Spaces (8.5 Spaces per 1,000 SF Leased)
Frontage
MAJOR TENANTS
- TENANT
- INDUSTRY
- SF OCCUPIED
- RENT/SF
- LEASE TYPE
- LEASE END
- Chick-fil-A
- Retailer
- 4,235 SF
- -
- NNN
- May 2041
| TENANT | INDUSTRY | SF OCCUPIED | RENT/SF | LEASE TYPE | LEASE END | |
| Chick-fil-A | Retailer | 4,235 SF | - | NNN | May 2041 |
NEARBY MAJOR RETAILERS
