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Views: 96 DOM: 159 Updated: 10.24.24 Posted: 07.16.24 Status: Active

Summary

Price $1,158,000
Built/Renov 1957
Tenant Pep Boys
Cap Rate 7.25%
Lease Type NN+
Guarantor Corp T and Rated
Size/SF 7,200
Lease Start 06-01-2011
#Units 1,691
Price/SF $160.83
Expiration 05-31-2031
Tenant Type Automotive
NOI $83,981
R. Term 6.5
Ownership Fee Simple
Rent/SF $11.66
Increases 8.0%/1/yrs
Pop 5Mi 114,290
Lot/AC 1.81
Options 0/0yrs
AHHI 5Mi $110,126

Lease Highlights

  • Pep Boys has 6+ years remaining on the current lease term
  • The lease features 8% rental increases throughout the initial term
  • Favorable NN+ lease with landlord responsible for roof and structure
  • Corporate guaranteed lease

Location Description

Pep Boys is strategically located on Black Horse Pike, with access to 24,907 vehicles passing by daily. The property is surrounded by well-known national tenants including ShopRite, The Home Depot, Walgreens, AutoZone, Chick-fil-A, and Taco Bell. The 5-mile trade area supports a population of 114,290 residents with an affluent average household income of $110,126. Williamstown is an...

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Maps

  • 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
  • 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, PA in 1921. The chain provides name-brand tires, automotive...


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Demographics

  1 Miles 3 Miles 5 Miles
2029 Total Population : 9,248 55,747 115,015
2024 Total Population : 8,623 54,437 113,472
2024 Employed Civilian Pop : 4,712 28,896 60,601
2024 Total Businesses : 222 1,345 2,616
2024 Average Household Income : $ 118,785 $ 123,421 $ 128,559
2024 Total Consumer Spending : $ 383 M $ 2141 M $ 4575 M
2024 Median Age : 46 40 40
2024 Total Households : 3,711 19,912 40,992
2024 Pop Age 25+: Bachelor's Degree : 1,288 7,918 18,499
2024 Average Home Value : $ 330,402 $ 338,153 $ 351,983
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
North Black Horse Pike N Black Horse Pike 2017 24,907 0.14 mi
N Black Horse Pike Lake Ave 2012 17,650 0.22 mi
N Main St Candlewood Dr 2014 8,303 0.40 mi
North Black Horse Pike 2018 23,448 0.55 mi
Black Horse Pike Lindale Ave 2022 28,984 0.60 mi
NJ 42 N Black Horse Pike 2022 25,221 0.71 mi
North Black Horse Pike Kennedy Ave 2020 26,520 0.72 mi
North Black Horse Pike May Ave 2019 29,893 0.72 mi
N Black Horse Pike May Ave 2013 28,324 0.73 mi
US 322;CR 536 Eldridge Ave 2022 9,047 0.92 mi

Listing Broker

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