Cap Rate: 7.25%
Net Operating Income: $132,000
Square Footage: 11,180
Lot Size: 1.35 AC
The subject property is a rare 11,180 square foot, two story office building in Mickleton, New Jersey. The property is leased to Solutionz, a top tier partner of the nation’s leading A/V manufacturer. The tenant is subject to a 10 year absolute NNN lease with zero landlord obligations. The lease calls for annual 2% rental increases and two, 5 year options to renew.
Mickleton is an unincorporated community located within East Greenwich Township in Gloucester County, New Jersey, United States. The area is served as United States Postal Service ZIP Code 08056.
As of the 2000 United States Census, the population for ZIP Code Tabulation Area 08056 was 2,469. However, in more recent years with major suburban housing development, Mickleton along with the rest of East Greenwich has experienced a major population boom.
Mickleton’s Quaker roots can still be seen in its “Friend’s Meeting House”, a Quaker church, and in the “Little Red School House”, a schoolhouse building from the 17th and 18th centuries.