Sale Price: $6,545,455
Building Size: 9,100 SF
Cap Rate: 5.5%
This is an absolute net leased C-Store offering in Cherry Hill, NJ. The BP branded station has a new 20 year absolute NNN lease and calls for 1.75% Annual Increases in rent. The lease is corporately guaranteed by a leading 1,000-unit operator based in the Northeast.
Cherry Hill is a township within Camden County, in the U.S. state of New Jersey. As of the 2020 United States Census, the township had a population of 74,553.
As of 2020, the township was the state's 12th most populous municipality and the largest in Camden County, after having been the state's 13th most populous municipality in the 2000 Census. Cherry Hill is a suburb of Philadelphia and with the decline of downtown Camden has become an edge city and one of the region's main commercial centers. Cherry Hill is situated on the Delaware Valley coastal plain, approximately eight miles (13 kilometers) southeast of Center City, Philadelphia.