Pep Boys

1223 Ringwood Avenue, Haskell, NJ 07420

$1,183,000

Cap Rate 7.25%

Views: 79 DOM: 220 Updated: 06.03.24 Posted: 01.31.24 Status: Contract 04.23.24

Summary

Price $1,183,000	Built/Renov 1968	Tenant Pep Boys
Cap Rate 7.25%	Lease Type NN+	Guarantor Corp T and Rated
Size/SF 5,100	Lease Start 05-07-2017	#Units 1,691
Price/SF $231.96	Expiration 05-07-2027	Tenant Type Automotive
NOI $85,800	R. Term 2.8	Ownership Fee Simple
Rent/SF $16.82	Increases 10.0%/3/yrs	Pop 5Mi 100,704
Lot/AC 0.40	Options 1/5yrs/10%	AHHI 5Mi $154,455

Alan Cafiero

Marcus & Millichap

Contact

Lease Highlights

Pep Boys has 3+ years remaining on the current lease term with 1 (5-year) option to extend
The lease features 10% rental increases every 5 years throughout the initial term and each option period
Favorable NN+ lease with landlord responsible for roof and structure
Corporate guaranteed lease

Location Description

Pep Boys is strategically located on Ringwood Avenue, offering excellent visibility and access to 18,091 vehicles passing by daily. It is conveniently situated near I-287, which sees 102,000 vehicles per day. Nearby national retailers include CVS, 7-Eleven, United States Postal Service, Dunkin', Burger King, QuickChek, Lakeland Bank, and Stop & Shop. The 5-mile trade area is supported by a...

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Key Features

Build to suit
Near major nationals
Strategically located
Freeway close
Top 100 MSA
Strong demographics
Accelerated depreciation
Favorable NN+ lease
Traded and rated company
Corporate Guarantee

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Links

Pep Boys Wikipedia Pep Boys Wikipedia Haskell, New Jersey Zip Code 07420 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: Pep Boys
Guarantor:Corp T and Rated
Company:Icahn Enterprises L.P.
# Units:1,691
Tenant S&P: BB
Moody’s: Ba3
Stock: NASDAQ: IEP

About Tenant

Pep Boys is an American automotive aftermarket service chain. Originally named Pep Auto Supply, the company was founded in Philadelphia, P A in 1921. The chain provides name-brand tires,...

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Demographics

	1 Miles	3 Miles	5 Miles
2028 Total Population :	6,026	41,218	98,179
2023 Total Population :	6,172	42,070	100,254
2023 Employed Civilian Pop :	3,548	23,214	53,763
2023 Total Businesses :	197	1,804	3,845
2023 Average Household Income :	$ 117,858	$ 139,926	$ 165,862
2023 Total Consumer Spending :	$ 239 M	$ 1918 M	$ 5254 M
2023 Median Age :	43	44	46
2023 Total Households :	2,421	16,406	38,016
2023 Pop Age 25+: Bachelor's Degree :	1,349	9,419	23,754
2023 Average Home Value :	$ 358,667	$ 446,987	$ 543,296

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
Ringwood Ave	Ricker Rd	2013	28,736	0.31 mi
Union Ave	Ringwood Ave	2013	17,394	0.42 mi
I- 287	Ringwood Ave	2013	7,148	0.43 mi
I- 287	Ringwood Ave	2013	9,180	0.45 mi
I- 287	Ringwood Ave	2017	6,081	0.45 mi
		2017	4,788	0.45 mi
Union Ave	Greenwood Ave	2013	13,982	0.47 mi
	Ringwood Ave	2018	5,219	0.47 mi
I- 287	Ringwood Ave	2013	5,742	0.47 mi
	Ringwood Ave	2018	4,920	0.50 mi

Listing Broker

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