April 12, 2022 – Michael Agrifolio and Michael Lombardi of Horvath & Tremblay have successfully completed the sale of a BP Gas Station in Bordentown, New Jersey. Horvath & Tremblay exclusively represented the seller to complete the transaction at a sale price of $609,000.
The BP Gas Station located at 231 US Route 206 in Bordentown, New Jersey. The Property has been operating as a successful gas station and convenience store for many years. The Property is improved with a convenience store, eight (8) fueling stations, a propane filling station, and an on-site air station and vacuum. The Property features a new 10-year Double Net lease with annual rent increases that commenced in September 2021. The lease calls for annual rent increases throughout the base term. The Property is situated at the convergence of US Route 206 and US Route 130, two of the area’s primary commercial and commuter roadways. These two heavily trafficked roadways directly connect to Interstate 295 (1-mile away) and Interstate 95 (1.5-miles away). The Property lies less than 1-mile from downtown Bordentown and is surrounded by densely populated residential neighborhoods and enjoys convenient access to area schools and retailers. The Property enjoys good visibility, signage, and frontage along US Routes 130 & 206. Bordentown is an affluent bedroom community of Philadelphia, located 30-miles northeast of the city.
Horvath & Tremblay is one of the most active and successful Investment Real Estate Brokerage firms in United States. Our advisors specialize in the sale of single tenant net-lease assets and retail shopping centers. They have experience successfully structuring sale lease-back programs, portfolio dispositions, and 1031 exchanges. Horvath & Tremblay is dedicated to being the best source of information and expertise in the marketplace for private investors, developers, institutions, and industry professionals.