962-985 ROUTE 376 AND VAN WYCK ROAD - HOPEWELL JCT., NY
Listing was updated at: 08/22/2018
Property Overview
Price/Rent PSF $ 3,550,000.00
Asset Type Investment
Trade Type Sale
SQ. FT. Available 42,300
Date Available 06/04/2018
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Description

Brookmead retail center & development site for sale!

The Plaza:
Well performing retail plaza, solid tenancy priced to sell at a 10 CAP on current net income. Building consists of over 40,000 SF. Recent capital improvements to the center of over half million dollars includes tenant fit-ups, septic expansion, roof replacement and blacktop pavement and striping.

Ground Lease:
Plaza parcel includes NNN ground lease with well performing McDonalds franchise service by two drive-thru. Five 5-year lease options and one 2.5 year-lease option. Substantial base rent increases for each lease extension. Current construct includes capital improvement investment over $750,000 by tenant.

Development:
Separate offering - vacant 8.2 acre parcel available adjacent to McDonald's pad site and retail plaza with common access easements and on a separate tax parcel. The property is cleared and level with excellent gravel soil. Utilities are municipal gas and water and private septic system. Vacant land development ideal for supermarket, pharmacy, self-storage, warehouse and much more.
Development site offered at $750,000

See attached brochure for more!

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