Marcus & Millichap said it recently sold a net-leased 6,853-square-foot property in Toms River for $3,493,750.
“Net-leased assets with credit in New Jersey continue to draw interest from investors looking for durable cash flow,” Alan Cafiero, senior managing director investments, said. “This Mavis location offered a long-term, absolute net lease with solid credit, ideal for this buyer’s 1031 exchange.”
Cafiero, Brent Hyldahl and Seth Goldberg, investment specialists in Marcus & Millichap’s New Jersey office, exclusively marketed the property on behalf of the seller and procured the buyer.
Located at 280 Route 37 East, the one-story building is situated on 1.22 acres. It is leased to Mavis Discount Tire under a corporate-guaranteed net lease through 2030. Nearby retailers and service providers include Ocean County Mall, Target, Lowe’s, Wawa, Chick-fil-A and Starbucks.
