Formia Marble & Stone

219 East 11th Avenue, Roselle, NJ 07203

$2,750,000

Cap Rate 6.55%

Views: 86 DOM: 227 Updated: 07.26.24 Posted: 02.02.24 Status: Contract

Summary

Price $2,750,000	Built/Renov 1974	Tenant Formia Marble & Stone
Cap Rate 6.55%	Lease Type Abs NNN	Guarantor Corporate
Size/SF 13,750	Lease Start 05-01-2024	#Units 1
Price/SF $200.00	Expiration 04-30-2034	Tenant Type Industrial
NOI $180,000	R. Term 9.7	Ownership Fee Simple
Rent/SF $13.09	Increases 3.0%/1/yrs	Pop 5Mi 485,238
Lot/AC 0.46	Options 1/5yrs/3%	AHHI 5Mi $105,212

Alan Cafiero

Marcus & Millichap

Contact

Lease Highlights

Formia Marble and Stone will be executing a brand-new 10-year lease with 1 (5-year) option to extend
The lease features 3% annual rent increases throughout the initial term and option period
Absolute NNN | Zero landlord responsibilities
Corporate guaranteed lease

Location Description

Formia Marble & Stone is strategically located on Chestnut Street, with access to 11,808 vehicles passing by daily. The property enjoys convenient and quick access to major transportation routes, including 1/9, Route 22, the New Jersey Turnpike, and the Garden State Parkway. It is also located in proximity to well-known national tenants, including Popeyes, Advanced Auto Parts, Wawa, Aldi, and...

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Key Features

Build to suit
Near major nationals
Strategically located
Freeway close
Top 100 MSA
Strong demographics
Brand new lease
Absolute NNN
Long 10+ yr lease
Corporate Guarantee

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Links

Formia Marble & Stone Wikipedia Roselle, New Jersey Zip Code 07203 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: Formia Marble & Stone
Guarantor:Corporate
Company:Formia Marble & Stone, Inc.
# Units:1
Stock:Private

About Tenant

Formia Marble & Stone, Inc. (“Formia”) is a leader in the stone fabrication and installation industry. Formia specializes in custom kitchen, bathroom, and flooring projects using materials such as...

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Demographics

	1 Miles	3 Miles	5 Miles
2028 Total Population :	33,510	229,482	502,861
2023 Total Population :	33,271	226,132	501,633
2023 Employed Civilian Pop :	16,622	117,071	256,222
2023 Total Businesses :	717	7,198	16,040
2023 Average Household Income :	$ 97,856	$ 109,146	$ 116,197
2023 Total Consumer Spending :	$ 1027 M	$ 7590 M	$ 17706 M
2023 Median Age :	39	39	39
2023 Total Households :	12,305	81,753	179,164
2023 Pop Age 25+: Bachelor's Degree :	3,460	30,788	76,651
2023 Average Home Value :	$ 384,748	$ 455,747	$ 475,472

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
Chestnut St	E Highland Pkwy	2016	13,104	0.23 mi
Chestnut Street	E Highland Pkwy	2018	9,205	0.23 mi
Chestnut Street	Bonna Villa Ave	2017	8,684	0.30 mi
West 9th Avenue	Wheatsheaf Rd	2017	6,297	0.30 mi
West 9th Avenue	Wheatsheaf Rd	2018	6,675	0.32 mi
9th Ave	Wheatsheaf Rd	2016	6,949	0.34 mi
Chestnut Street	W 7th Ave	2017	11,808	0.37 mi
Locust St	8th Ave	2012	6,835	0.42 mi
W. 9th Avenue	Locust St	2019	4,991	0.43 mi
West 6th Avenue		2018	11,525	0.46 mi

Listing Broker

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