Franklin Township, New Jersey

🌿 New Construction Cannabis Dispensary | 20-Year NNN Sale-Leaseback | Dense Retail Corridor Along Route 27 | $3.23M | 6.5% Cap Rate

📊 Investment Highlights

• Asking Price: $3,230,769

• Property Type: Retail

• Sub Type: Freestanding / Cannabis Dispensary

• Investment Type: Sale-Leaseback

• Lease Type: NNN (20-Year Term)

• Tenancy: Single Tenant

• Square Footage: ±3,500 SF

• Lot Size: ±1.48 Acres

• Cap Rate: 6.50%

• NOI: $210,000

• Occupancy: 100% (New Long-Term Lease)

• Remaining Lease Term: 20 Years

• Zoning: Neighborhood Commercial (Retail/Dispensary Permitted)

🧾 Executive Summary

Prime New Jersey retail investment opportunity — a newly constructed ±3,500 SF cannabis dispensary on ±1.48 acres located along the high-traffic Route 27 corridor in Franklin Park, Somerset County. Offered as a 20-year NNN sale-leaseback, this property provides investors with long-term, passive income backed by the stability of New Jersey’s rapidly expanding adult-use cannabis market.

The property sits in a densely populated trade area with approximately 97,800 daytime residents and 117,000 permanent residents within a 5-mile radius. Positioned along Route 27 (Lincoln Highway) — one of Central New Jersey’s key north-south arterial routes — the dispensary benefits from 24,000+ vehicles per day, connecting major economic and educational centers including Princeton, New Brunswick, and Edison.

The offering also includes the option to purchase an adjacent ±1.48-acre vacant parcel, providing development flexibility and future upside for investors seeking additional land value.

This location is part of a strong and growing retail corridor anchored by national brands such as Wawa, CVS, Stop & Shop, and Dunkin’, creating durable foot traffic and synergistic visibility.

With New Jersey’s cannabis market reporting $201 million in recreational sales in Q1 2024 — a 38% YoY increase, this asset is ideally timed to capture continued growth within a limited-license, high-demand region.

🏢 Property Overview

• Address: Franklin Park, NJ (Somerset County)

• Building Size: ±3,500 SF

• Lot Size: ±1.48 Acres

• Zoning: Neighborhood Commercial

• Type: Single-Tenant Cannabis Retail

• Lease Type: NNN – 20-Year Term | Tenant Covers All Expenses

• Lease Structure: Sale-Leaseback | Immediate Income Stream

• Condition: New Construction – Purpose-Built for Cannabis Use

• Tenancy: 100% Occupied | Long-Term Lease in Place

• Traffic Count: 24,000+ Vehicles per Day on Route 27

• Parking: Ample On-Site Parking

📍 Location Highlights

Strategic Connectivity & Regional Access
Franklin Park benefits from direct access to Route 27 and Interstate 287, two major transportation arteries that enhance accessibility to key neighboring markets:

• 🚗 5 minutes to New Brunswick (Rutgers University, RWJ Medical Campus)

• 🎓 20 minutes to Princeton

• 🏙️ 30 minutes to Edison / Somerset tech corridors

• 🛣️ I-287 and I-95 connect the region to New York City and Philadelphia

Growing, Affluent Submarket
Franklin Park’s median household income has risen by 11.5% in recent years (from $95,000 to $106,000), reflecting steady economic growth and demographic stability. Somerset County as a whole benefits from proximity to pharmaceutical headquarters and technology firms, creating a high-income consumer base.

Proximity to Corporate & Educational Hubs
Somerset County is home to top institutions including Rutgers University, Raritan Valley Community College, and major employers such as Daiichi Sankyo, Viatris (Mylan), and Bristol Myers Squibb, strengthening long-term retail demand.

Retail Co-Tenancy
The property sits along a robust corridor featuring Wawa, Stop & Shop, CVS, Dunkin’, and national QSR chains, ensuring sustained daily traffic and visibility for the dispensary.

💡 Summary of Opportunity

• ✅ New Construction Cannabis Dispensary | 20-Year NNN Sale-Leaseback

• 💰 6.5% Cap Rate | $210,000 NOI | Passive Income | Tenant Covers All Expenses

• 🌿 Located in New Jersey’s Rapidly Expanding Cannabis Market (+38% YoY Sales Growth)

• 🏗️ Includes Option to Purchase Adjacent 1.48-Acre Vacant Parcel

• 🚘 High-Traffic Corridor | 24,000+ VPD on Route 27 (Lincoln Highway)

• 🏙️ Dense 5-Mile Trade Area (117,000 Residents | 97,800 Daytime Population)

• 📍 Central NJ Location | Easy Access to Princeton, Edison & New Brunswick

• 🧭 Affluent Submarket with Double-Digit Household Income Growth

Offered Exclusively by Licensed Agents / Brokers

Listing #8030