1131 2Nd StMillville, NJ 08332

For Sale
$1,625,000

High-Yield Retail Investment in NJ

Overview

Added:
Dec 11, 2024
Days on market:
94
This exceptional investment opportunity presents a fee-simple, single-tenant Dollar General store located at 1131 S 2nd St, Millville, NJ 08332. The 10,823 square foot building, constructed in 2011 and situated on a 1.14-acre lot, boasts a strong 8.00% cap rate and a Net Lease structure with minimal landlord responsibilities. The current lease, commencing September 30, 2011, and expiring April 29, 2029, includes two 5-year renewal options with attractive 10% rent increases at the start of each option. Dollar General, a credit-rated, investment-grade tenant (BBB/Baa2), has demonstrated a long-term commitment to this location, recently extending their lease. The property benefits from high visibility at the intersection of Arbutus Avenue and South 2nd Street (NJ Route 47), a primary commercial corridor, and enjoys proximity to major roadways including NJ Route 49 and NJ Highway 55. The property's strong location is supported by robust demographics, with over 24,700 people residing within a 3-mile radius and an average household income exceeding $130,000. Significant recent capital improvements include a new roof (2021, approx. $21,000) and a new sewer line (2021, approx. $27,000). The property generates a Net Operating Income (NOI) of $130,000, offering a compelling return on investment. This is a rare opportunity to acquire a high-performing, recession-resistant retail asset with a long-term, creditworthy tenant and significant upside potential. The asking price is $1,625,000.

Highlights

  • Dollar General, a long-term tenant since 2011, has a lease with 4+ years remaining and two 5-year renewal options.
  • Lease includes a 10% rent increase at each renewal.
  • Double Net Lease with minimal landlord responsibilities; landlord responsible for roof, structure, and underground utilities; new roof and sewer line installed in 2021.
  • Investment-grade credit rating (BBB S&P, Baa2 Moody's); operates over 20,000 locations nationwide.
  • Excellent visibility at Arbutus Ave and NJ Route 47 intersection; close proximity to NJ Route 49 and NJ Highway 55.
  • Recession-resistant tenant with consistent year-over-year sales growth since 2009.

Property Details for 1131 2Nd St

Property type
Other retail properties, Individual retail properties
Square Feet
10,823 SF
Year Built
2011
Buildings
1
Stories
1
Lot Size (sq. ft)
49,658 SF
Units
1

Location Insight

City
Millville
County
Cumberland
State
New Jersey
Latitude
39.3784772
Longitude
-75.0271152
1131 2Nd St, Millville, New Jersey

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1131 2Nd St
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