162 Hackensack Ave, Hackensack, NJ 07601

This commercial property at 162 Hackensack Ave in Hackensack, New Jersey, presents a significant investment opportunity. The building, a 5,500 square foot Quick Chek retail space, is situated on a substantial 1.5-acre parcel. The property features 10 operational gas pumps, enhancing its retail appeal and functionality. Constructed in 2018, the building represents new, high-quality development, offering modern infrastructure and design.

The property is offered as an absolute NNN ground lease with QuickChek, a well-established tenant. This lease structure ensures zero landlord obligations, simplifying management and providing a predictable income stream. The current ground lease is set to conclude in 2043, with the tenant holding four consecutive five-year options to renew, offering long-term security for the investment. The lease also includes provisions for 10% rental increases every five years, contributing to potential revenue growth over the lease term.

Located in a densely populated area, the site benefits from strong demographic indicators, including high-income households. Its strategic position is further amplified by its proximity to a variety of national retailers such as Target, Burger King, Boston Market, 7-Eleven, and Dunkin' Donuts, as well as The Shops at Riverside. This high-traffic location experiences approximately 40,000 vehicles per day (VPD), ensuring significant visibility and customer accessibility. The property is also situated directly outside Fairleigh Dickinson University, drawing additional foot and vehicle traffic.

The site offers ample parking, with 40 spaces available, equating to 7.27 spaces per 1,000 square feet of leased space. The building is a single-story structure with 99 feet of frontage along Hackensack Avenue. This investment property, categorized as Investment NNN, is built to a building class B standard and was constructed in 2018. The cap rate for this offering is 5%, reflecting the current market valuation and return potential.