Asking Price
NOI Net Operating Income
Cap Rate
Asking Price
NOI Net Operating Income
Cap Rate


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Key Facts

Year Built 2002
Lease Type NNN
Current / Passing Rent
Lease Expiration 2027-09-30
Remaining Term 7 years, 4 months
Tenant Walgreens Eastern Co
Guarantor Walgreens Company
Building Area
Land Area

Property Description

JLL is pleased to offer Walgreens, a freestanding, single-tenant property located in 120 E1st Ave, Roselle, New Jersey, for sale. The location performs well above the national average, reporting over $2.84 million in sales in fiscal year 2018. This can be attributed to the outstanding location just 15 miles southwest of Manhattan at the primary retail intersection of Roselle, surrounded by a dense population base of over 228,000 residents within three miles. The property sits upon a large 1.44-acre parcel with accessibility to both First Avenue and Chestnut Street (44,000 vehicles per day combined) allowing residents from Roselle convenient access from any direction of travel.

The property is 2.5 miles from Elizabeth, New Jersey and 0.5 miles from Roselle Park train station. It is also in close proximity to CVS, McDonald’s, Wendy’s, Dunkin’ Donuts and Wells Fargo and the drive-thru location is open until 12 am every night. This offering presents the unique opportunity to acquire a stabilized, high-performing Walgreens location within the largest MSA in the United States, providing security in the value of the underlying real estate.

Investment Highlights

  • Absolute NNN lease with over 7 years of term remaining
  • Zero landlord responsibilities
  • Ten, 5-year options for renewal
  • Fee simple interest
  • Investment grade credit guarantor with Walgreen Co (S&P: ‘BBB/Stable’)
  • Tri-modal ingress/egress
Alex Sharrin
Alex Sharrin
Managing Director, Capital Markets
Licensed in
IL - 475.170243
Marc Mandel
Marc Mandel
Managing Director, Capital Markets
Licensed in
PA - AB068236 DE - RS-0019936 NJ - 0894218

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