BP (GL)

125 St Georges Ave, Rahway, NJ 07065

$3,535,000

Cap Rate 7.00%

Views: 118 DOM: 307 Updated: 09.18.24 Posted: 02.27.24 Status: Contract

Summary

Price $3,535,000	Built/Renov 1969/2017	Tenant BP (GL)
Cap Rate 7.00%	Lease Type Abs NNN	Guarantor Corp T and Rated
Size/SF 1,896	Lease Start 03-01-2017	#Units 20,700
Price/SF $1,864.45	Expiration 02-28-2027	Tenant Type Convenience/Gas
NOI $247,500	R. Term 2.2	Ownership Ground Lease
Rent/SF $130.54	Increases 10.0%/3/yrs	Pop 5Mi 343,593
Lot/AC 0.64	Options 5/5yrs/10%	AHHI 5Mi $123,173

Alan Cafiero

Marcus & Millichap

Contact

Lease Highlights

BP has 2+ years remaining on the current ground lease term with 4 (5-year) options to extend
The lease features 10% rental escalations every 5 years throughout the initial term and each option period
Absolute NNN | Zero landlord responsibilities
Corporate guarantee | Investment grade tenant

Location Description

BP Gas/Convenience is strategically located at the signalized, hard corner intersection of St. Georges Avenue and New Brunswick Avenue, with access to a combined daily traffic count of 27,679 vehicles. The site was recently renovated with upgraded signage, facade, canopies, and pumps. Nearby national retailers include Chase Bank, Dunkin' Donuts, CVS, Boston Market, Wendy's, KFC, Home Depot,...

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Key Features

Signalized intersection
Build to suit
Dense retail corridor
Near major nationals
Top 100 MSA
Strong demographics
Absolute NNN
Accelerated depreciation
Traded and rated company
Investment grade tenant

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Links

BP Wikipedia BP Wikipedia Rahway, New Jersey Zip Code 07065 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: BP Gas
Guarantor:Corp T and Rated
Company:BP p.l.c
# Units:20,700
Tenant S&P: A-
Moody’s: A2
Stock: NYSE: BP

About Tenant

BP p.l.c. (NYSE: BP) is a British multinational oil and gas company, one of the oil and gas "supermajors" and one of the world's largest companies measured by revenues and profits. Their...

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Demographics

	1 Miles	3 Miles	5 Miles
2028 Total Population :	19,254	144,352	367,001
2023 Total Population :	19,465	142,119	363,388
2023 Employed Civilian Pop :	9,730	74,544	189,726
2023 Total Businesses :	544	5,097	12,033
2023 Average Household Income :	$ 127,706	$ 129,120	$ 136,664
2023 Total Consumer Spending :	$ 710 M	$ 5618 M	$ 15099 M
2023 Median Age :	40	42	41
2023 Total Households :	6,621	51,789	131,254
2023 Pop Age 25+: Bachelor's Degree :	3,586	27,795	68,110
2023 Average Home Value :	$ 433,099	$ 448,272	$ 490,601

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
St. George's Avenue		2018	26,799	0.05 mi
Lincoln Avenue/Route 27	Lincoln Hwy	2018	13,930	0.10 mi
Lincoln Highway		2018	12,064	0.13 mi
New Brunswick Avenue	E Inman Ave	2017	4,171	0.15 mi
New Brunswick Ave	E Inman Ave	2016	4,415	0.15 mi
Colonia Boulevard		2018	7,138	0.17 mi
Saint Georges Ave	Peach St	2013	21,179	0.18 mi
St. George's Avenue	Peach St	2017	27,679	0.18 mi
Colonia Boulevard	Villa Pl	2017	7,314	0.21 mi
Jefferson Avenue		2018	5,815	0.25 mi

Listing Broker

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