Property Details
Price :
Square Feet :
Cap Rate :
$7,800,000
21,639
6.75%
NOI :
Acres :
$525,882
1.45
Property Type :
Property Status :
Retail
Under Agreement
Investment Highlights
TENANT(S)
- Princeton Centre is a neighborhood strip center located in Princeton, Mercer County, New Jersey
- 100% occupied with nine service and food-oriented tenants
- Neighborhood tenant such as pizza, convenience store, hair salon, nail salon, cleaners, paint store, spa, cigar store, etc.
LEASE(S)
- Seven out of nine tenants on net leases
- Most tenants with annual rent increases
- Several smaller units mitigates landlord risk – largest space 5,180 SF
- Recent lease extension for Mayflower Cleaners, largest tenant in the building, showing commitment to this location
BUILDING
- Two (2) buildings with a center courtyard
- 94 parking spaces (4.34/1,000 SF)
LOCATION/ MARKET
- Located along Route 206 with over 20,500 vehicles/day
- Approximately 1.25 miles to Princeton University (8,500 students)
- 1.5 miles to downtown Princeton (Nassau St.)
- Excellent high-end demographics with a 1-mile average household income over $183K
Street View
Listing Contacts
