Staples

401-469 West Street - Fort Lee NJ 07024

LTV (Loan to Value)	65.00%	Current NOI	$49,928,150.00
Interest Rate	4.250%	Capital Rate	5.700%
Fixed Term	10 Years	Land Area	27,003.00 Acres
Amortization	25 Years	Lease Type	NN
Loan Amount	$5,687,500.00	Property Type	Retail
Payment	$30,811.35	Property Lease	Office Supplies
Bulding Size	12,835 SF	Remaining Terms	6.8 Years

Location Description

NNN Lenders is pleased to offer for sale to qualified investors the opportunity to purchase a fee-simple interest in an attractive retail property located in Fort Lee, NJ. This 12,835 SF property is leased to Staples which operates under a Fifteen (15) year NN lease with approximately Seven (7) years remaining. The lease features Three (3), Five (5) year renewal options with 10% rental increases in each option. Staples recently extended their primary term for Seven (7) additional lease years, reinforcing their overall commitment to this location. The subject property is located directly off of several highly trafficked routes, including Fletcher Ave (9W) offering convenient access and excellent visibility to over 37,000 VPD.

Highlights

Remaining Lease Term - Seven (7) years remaining on a Fifteen (15) year lease term Commitment to Location - Staples…

Property Description

Fort Lee is a borough at the eastern border of Bergen County, New Jersey, in the New York City Metropolitan Area, situated atop the Hudson Palisades. As of the 2010 United States Census, the borough's population was 35,345. The borough is the western terminus of the George Washington Bridge and is located across the Hudson River from the Manhattan borough of New York City. Named for the site of an early American Revolutionary War military encampment, it later became the birthplace of the American film industry. Bergen County is the most populous county in the U.S. state of New Jersey. As of 2013, the county's population was estimated to have increased by 2.2% since 2010, to 925,328. Bergen County is one of the wealthiest counties in the United States, with a median household income of $81,708 per the 2010 Census, increasing to an estimated $84,255 in 2012. The county hosts an extensive park system totaling nearly 9,000 acres.