# EDGAR Filing Document

**Accession Number:** 0001368757
**File Stem:** 0001193125-26-104058
**Filing Date:** 2026-3
**Character Count:** 33141
**Document Hash:** 7cbb2c4d4edc7cc42efdc57da222362b
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-26-104058.hdr.sgml**: 20260312

**ACCESSION NUMBER**: 0001193125-26-104058

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 13

**CONFORMED PERIOD OF REPORT**: 20260312

**ITEM INFORMATION**: Regulation FD Disclosure

**ITEM INFORMATION**: Other Events

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20260312

**DATE AS OF CHANGE**: 20260312

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** GTJ REIT, INC.
- **CENTRAL INDEX KEY:** 0001368757
- **STANDARD INDUSTRIAL CLASSIFICATION:** REAL ESTATE INVESTMENT TRUSTS [6798]
- **ORGANIZATION NAME:** 05 Real Estate & Construction
- **EIN:** 205188065
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 333-136110
- **FILM NUMBER:** 26747474

**BUSINESS ADDRESS:**
- **STREET 1:** 1399 FRANKLIN AVENUE
- **CITY:** GARDEN CITY
- **STATE:** NY
- **ZIP:** 11530
- **BUSINESS PHONE:** 516-260-1981

**MAIL ADDRESS:**
- **STREET 1:** 1399 FRANKLIN AVENUE
- **CITY:** GARDEN CITY
- **STATE:** NY
- **ZIP:** 11530

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** GTJ REIT, Inc.
- **DATE OF NAME CHANGE:** 20060712

?xml version='1.0' encoding='ASCII'? 8-K

**UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549**

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## FORM 8-K

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**CURRENT REPORT**

**Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934**

**Date of Report (Date of earliest event reported):** March 12, 2026<br>

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GTJ REIT, INC.

**(Exact name of Registrant as Specified in Its Charter)**

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| | | |
|:---|:---|:---|
| Maryland | 333-136110 | 20-5188065 |
| **(State or Other Jurisdiction<br>of Incorporation)** | **(Commission File Number)** | **(IRS Employer<br>Identification No.)** |
| 1399 Franklin Avenue<br>Suite 100 |  |  |
| Garden City**,** New York |  | 11530 |
| **(Address of Principal Executive Offices)** |  | **(Zip Code)** |

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**Registrant's Telephone Number, Including Area Code:** (516) 693-5500<br>

**(Former Name or Former Address, if Changed Since Last Report)**

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Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

**Securities registered pursuant to Section 12(b) of the Act:**

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| | | |
|:---|:---|:---|
| **<br>Title of each class** | **Trading<br>Symbol(s)** | **<br>Name of each exchange on which registered** |
| N/A | N/A | N/A |

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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

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## Item 7.01 Regulation FD Disclosure.
On or about March 17, 2026, GTJ REIT, Inc., a Maryland corporation (the "Registrant"), will send a letter to its stockholders to provide information regarding the estimated net asset value per share as described below in Item 8.01 to be used in connection with the Registrant's Amended and Restated Share Redemption Program ("SRP") for the period which commenced on December 1, 2025 and will end on May 31, 2026. A copy of the letter is filed as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein solely for purposes of this Item 7.01 disclosure.

Pursuant to the rules and regulations of the Securities and Exchange Commission ("SEC"), the information in this Item 7.01 disclosure, including Exhibit 99.1 and information set forth therein, is deemed to have been furnished and shall not be deemed to be "filed" under the Securities Exchange Act of 1934, as amended (the "Exchange Act").

## Item 8.01 Other Events.
***Overview***

On March 10, 2026, the Registrant's board of directors (the "Board"), including all of the Board's independent directors, unanimously approved and established an estimated net asset value per share of the Registrant's shares of common stock, $0.0001 par value per share (the "Common Stock"), of $29.10 based on the estimated value of the Registrant's assets less the estimated value of the Registrant's liabilities, or net asset value ("NAV"), divided by the number of shares of Common Stock issued and outstanding, including interpolated shares from the conversion of units from the Registrant's operating partnership, calculated as of December 31, 2025. The Registrant is providing this estimated NAV per share in connection with setting the repurchase price for the Common Stock under the SRP for the period which commenced on December 1, 2025 and will end on May 31, 2026. This valuation was performed in accordance with the provisions of Practice Guideline 2013-01, *Valuations of Publicly Registered Non-Listed REITs*, issued by the Investment Program Association ("IPA") in April 2013 ("IPA Valuation Guidelines"), in addition to guidance from the SEC. The Registrant believes that there were no material changes between December 31, 2025 and the date of this filing that would impact the estimated NAV per share.

The Board previously determined an estimated per share NAV of the Common Stock of $29.30 calculated as of December 31, 2024, for the period under the SRP that ended on November 30, 2025. The Registrant publishes an updated estimated NAV per share on at least an annual basis for the SRP.

The Board is responsible for the oversight of the valuation process, including the review and approval of the valuation process and methodology used to determine the Registrant's estimated NAV per share, the consistency of the valuation and appraisal methodologies with real estate industry standards and practices and the reasonableness of the assumptions used in the valuations and appraisals. The Board approved the engagement of Kroll, LLC (formerly Duff & Phelps, LLC) ("Kroll"), an independent third-party valuation firm, to provide appraised values (the "Appraisal Report") for each of the Registrant's 51 properties located in New York, New Jersey, Connecticut, Delaware, Florida and North Carolina owned as of December 31, 2025 as well as the Registrant's ownership interest in the property owned by the Registrant's unconsolidated affiliate (collectively, the "Appraised Properties") and a calculation of the range of the estimated NAV per share of the Common Stock as of December 31, 2025. Kroll based this range of estimated NAV per share upon (i) its appraisals of the Appraised Properties, (ii) market valuations of the Registrant's other assets and liabilities, and (iii) the estimated value of the Registrant's mortgage loans and other debt. Kroll does not have any direct interests in any transaction with the Registrant or its affiliates and has not performed any other services for the Registrant during the past two years (other than valuation services performed in connection with the determination of the Company's NAV as of December 31, 2023 and December 31, 2024). The Board is ultimately and solely responsible for the determination of the NAV per share.

After considering all information provided, and based on the Board's extensive knowledge of the Appraised Properties, other assets and liabilities, the Board concluded that the range of estimated NAV per share of its Common Stock of $29.10 to $35.98, with an approximate mid-range NAV per share of $32.38, as indicated in the Appraisal Report, was reasonable and unanimously agreed upon the estimated NAV per share for the Common Stock of $29.10, the low-range NAV per share. In establishing the estimated per share value below the mid-range, the Board considered multiple factors, including inflation, interest rates, international conflicts, unfavorable market conditions and leasing risk associated with certain assets in the Registrant's portfolio.

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The table below sets forth the calculation of the Registrant's estimated NAV of Common Stock as of December 31, 2025.

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| | | | |
|:---|:---|:---|:---|
|  | **<u>Low</u>**<sup>(6)</sup> | **<u>Mid-point</u>** | **<u>High</u>** |
| Appraised Properties<sup>(1)</sup> | $963000000 | 1015600000 | 1073500000 |
| Other Assets<sup>(2)</sup> | $&nbsp;&nbsp;&nbsp;&nbsp;33557426 | &nbsp;&nbsp;&nbsp;&nbsp;33557426 | &nbsp;&nbsp;&nbsp;&nbsp;33557426 |
| **Total Assets** | $**996557426** | **1049157426** | **1107057426** |
| Mortgage Notes Payable and Secured Revolving Credit Facility<sup>(3)</sup> | $514156208 | 514156208 | 514156208 |
| Other Liabilities<sup>(4)</sup> | $&nbsp;&nbsp;&nbsp;&nbsp;14945967 | &nbsp;&nbsp;&nbsp;&nbsp;14945967 | &nbsp;&nbsp;&nbsp;&nbsp;14945967 |
| **Total Liabilities** | $**529102175** | **529102175** | **529102175** |
| **Net Asset Value (NAV)** | $**467455251** | **520055251** | **577955251** |
| Number of Shares of Common Stock Outstanding<sup>(5)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;16062568 | &nbsp;&nbsp;&nbsp;&nbsp;16062568 | &nbsp;&nbsp;&nbsp;&nbsp;16062568 |
| **NAV per share** | $**29.10** | **32.38** | **35.98** |

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<sup>(1)</sup> The value for the Appraised Properties was determined by Kroll in the manner described in detail below. For the Appraised Properties, Kroll adjusted the discount rate +/- 50 basis points, and the capitalization rates +/- 25 basis, from a mid-point estimate in order to estimate a range of values. The key assumptions that were used by Kroll in its models to estimate the value of each of the Appraised Properties are set forth in the following table:

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| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;**Range** | &nbsp;&nbsp;**Weighted <br>Average** |
| &nbsp;&nbsp;Capitalization Rate | &nbsp;&nbsp;5.75% - 8.25% | &nbsp;&nbsp;6.78% |
| &nbsp;&nbsp;Terminal Capitalization Rate | &nbsp;&nbsp;6.25% - 8.50% | &nbsp;&nbsp;7.18% |
| &nbsp;&nbsp;Discount Rate | &nbsp;&nbsp;7.00% - 10.00% | &nbsp;&nbsp;8.30% |

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<sup>(2)</sup> Includes amounts associated with the following line items from the Registrant's audited financial statements for the year ended December 31, 2025: (i) cash and cash equivalents; (ii) rent receivables; (iii) allowance for bad debt; (iv) restricted cash; (v) prepaid expenses; and (vi) miscellaneous other assets. The Registrant believes that the carrying value of these assets estimates fair value.

<sup>(3)</sup> The value of the Registrant's mortgage notes payable was estimated by comparing the contractual terms of the mortgage against market terms. Contractual cash flows were projected based on the mortgage terms. A market interest rate was estimated and used to discount the contractual cash flows to December 31, 2025. The resulting asset (below market) or liability (above market) is the value of the assumed debt as of December 31, 2025. The mortgage notes payable amounts are equal to the outstanding principal due minus the cumulative mark-to-market adjustment of $16,224,551.

<sup>(4)</sup> Includes amounts associated with the following line items from the Registrant's audited financial statements for the year ended December 31, 2025: (i) accounts payable and accrued expenses; (ii) dividends payable; and (iii) other liabilities. The Registrant believes that the carrying value of these liabilities estimates fair value.

<sup>(5)</sup> Calculated on an interpolated basis and includes shares of Common Stock into which units of GTJ Realty, LP, the Registrant's operating partnership, may be converted.

<sup>(6)</sup> The Low-End calculation of the Registrant's estimated NAV of Common Stock as of December 31, 2024 included the following: (i) Total Assets of $956,185,765, consisting of Appraised Properties of $922,400,000 and Other Assets of $33,785,765; minus (ii) Total Liabilities of $486,230,113, consisting of $471,605,056 of Mortgage Notes Payable and Secured Revolving Credit Facility, and $14,625,057 of Other Liabilities; resulting in (iii) NAV of $469,955,652; divided by (iv) 16,041,073 Shares of Common Stock Outstanding; resulting in (v) NAV per share of $29.30.

***Methodology and Key Assumptions***

In determining an estimated NAV per share, the Board considered information and analyses, including the Appraisal Report provided by Kroll. The Registrant's goal in calculating an estimated NAV per share is to arrive at a value that is reasonable and supportable using what the Board deems to be appropriate valuation methodologies and assumptions. The following is a summary of the valuation and appraisal methodologies, assumptions, and estimates used to value the Registrant's assets and liabilities.

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***Independent Valuation Firm***

Kroll collected reasonably available material information that it deemed relevant in appraising the Appraised Properties. Kroll relied in part on property-level information provided by the Registrant, including (i) property historical and projected operating revenues and expenses; (ii) property lease agreements and/or lease abstracts; and (iii) information regarding recent or planned capital expenditures.

In conducting its investigation and analyses, Kroll took into account customary and accepted financial and commercial procedures and considerations as it deemed relevant. Although Kroll reviewed information supplied or otherwise made available by the Registrant for reasonableness, it assumed and relied upon the accuracy and completeness of all such information and of all information supplied or otherwise made available to it by any other party and did not independently verify any such information. Kroll has assumed that any operating or financial forecasts and other information and data provided to or otherwise reviewed by or discussed with Kroll were reasonably prepared in good faith on bases reflecting the best currently available estimates and judgments of the Registrant's management and the Board. Kroll relied on the Registrant to advise it promptly if any information previously provided became inaccurate or was required to be updated during the period of its review.

In performing its analyses, Kroll made numerous other assumptions as of various points in time with respect to industry performance, general business, economic, and regulatory conditions, and other matters, many of which are beyond its control and the Registrant's control. Kroll also made assumptions with respect to certain factual matters. In addition, Kroll's analyses, opinions, and conclusions were necessarily based upon market, economic, financial, and other circumstances and conditions existing as of or prior to the date of the Appraisal Report, and any material change in such circumstances and conditions may affect Kroll's analyses and conclusions. Kroll's Appraisal Report contains other assumptions, qualifications, and limitations that qualify the analyses, opinions, and conclusions set forth therein. Furthermore, the prices at which the Registrant's real estate properties may actually be sold could differ materially from Kroll's analyses.

Although Kroll considered any comments received from the Registrant relating to its Appraisal Report, the final appraised values of the Appraised Properties were determined by Kroll. The Appraisal Report is addressed solely to the Board to assist it in calculating an estimated NAV per share of the Common Stock. The Appraisal Report is not addressed to the public, may not be relied upon by any other person to establish an estimated NAV per share of the Common Stock, and does not constitute a recommendation to any person to purchase or sell any shares of Common Stock.

The foregoing is a summary of the standard assumptions, qualifications, and limitations that generally apply to the Appraisal Report. The Appraisal Report, including the analysis, opinions, and conclusions set forth in such Appraisal Report, is qualified by the assumptions, qualifications, and limitations set forth in the Appraisal Report.

***Real Estate Valuation*** 

As described above, the Registrant engaged Kroll to provide an appraisal of the Appraised Properties consisting of 51 properties in the Registrant's portfolio, as well as one property owned by an affiliate in which the Registrant has an ownership interest, as of December 31, 2025. The scope of work by Kroll in performing the appraisal of the Appraised Properties included:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Identification of the Appraised Properties through information provided by the Registrant, assessors' parcel numbers and street addresses;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Review of (and reliance upon) the Registrant provided data regarding rent rolls, lease rates and terms, real estate taxes, and operating expense data for the Appraised Properties;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•A study of the markets to measure current market conditions, supply and demand factors, growth patterns, and their effect on the Appraised Properties;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•A complete as vacant and as improved highest and best use analysis for the Appraised Properties; physically possible, legally permissible and financially feasible uses were considered and the maximally productive use was concluded;

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Application of only the most appropriate valuation techniques amongst the cost, income capitalization and sales comparison approaches to value. Based upon the highest and best use of the Appraised Properties, the income capitalization approach was the primary indicator of value. Operating expense data, market indicators were analyzed and Kroll attempted to speak with buyers, sellers, real estate brokers, real estate developers, appraisers and public officials to confirm the data as it pertains to the Appraised Properties in this appraisal assignment. Kroll utilized this data in the direct capitalization and discounted cash flow methods of analysis. Kroll also utilized a sales comparison approach as a secondary approach to value. This approach was primarily used to test its income approaches for reasonableness. A cost approach was not utilized as market participants do not rely on this approach in estimating market value in regard to the Appraised Properties;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Estimate of the market values (range and midpoint estimate) of each of the Appraised Properties as of December 31, 2025;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Review of the balance sheet items of the Registrant, such as cash and other assets, as well as debt and other liabilities;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Establishing a fair value of the debt, based on the Registrant provided mortgage summaries and amortization schedules; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Discussing with the Registrant regarding finalization of the market value estimates of all assets and liabilities held by the Registrant in order for the Registrant to arrive at a fair value estimate of NAV per share in conformance with the IPA Valuation Guidelines.

As noted above, Kroll performed a full valuation of the Appraised Properties utilizing the income capitalization approach as the primary indicator of value and the sales comparison approach as a secondary approach to value. Set forth below is a summary of those approaches:

***<u>Income Capitalization Approach</u>***

Kroll estimated the "as is" market value of the Appraised Properties as of December 31, 2025 using an income capitalization approach, which is comprised of two methodologies: direct capitalization and discounted cash flow. In particular, Kroll applied a range of "market-supported" direct capitalization rates and discount rates to projected net income ("NI") or cash flow, as applicable. An income capitalization approach, specifically the discounted cash flow method, simulates the reasoning of an investor who views the cash flows that would result from the anticipated revenue and expense on a property throughout its projection period. NI developed in Kroll's analysis is the balance of potential income remaining after collection loss and operating expenses. This NI was then discounted by an appropriate yield rate over a typical projection period in a discounted cash flow analysis. Thus, two key steps were involved: (1) estimating the NI applicable to each of the Appraised Properties and (2) choosing appropriate direct capitalization rates and discount rates.

***<u>Sales Comparison Approach</u>***

A sales comparison approach was used to assess the reasonableness of the conclusions reached through the income capitalization approach. A sales comparison approach considers what other purchasers and sellers in the applicable market had agreed to as a price for comparable real estate assets. This approach is based on the principle of substitution, which states that the limits of prices, rents and rates tend to be set by the prevailing prices, rents and rates of equally desirable substitutes.

***Valuation of Cash, Other Assets and Other Liabilities***

Values for the mortgage debt and secured revolving credit facility (collectively, the "Loans") are reflective of the Registrant's balance sheet as of December 31, 2025. The value of the Registrant's mortgage notes payable was estimated by comparing the contractual terms of the mortgage against market terms. Contractual cash flows were projected based on the mortgage terms. A market interest rate was estimated and used to discount the contractual cash flows as of December 31, 2025. The resulting asset (below market) or liability (above market) is the value of the assumed debt as of December 31, 2025. As of December 31, 2025, Kroll calculated debt encumbering 44 of the Appraised Properties for a total mark-to-market asset of $16,224,551.

***Other Assets and Liabilities***

To derive the estimated NAV per share of the Registrant, Kroll added the other tangible assets and liabilities of the Registrant from the Registrant's December 31, 2025 balance sheet to its estimated value of the real estate assets and mortgage loans.

Different parties using different assumptions and estimates could derive a different estimated NAV per share, and these differences could be significant. The value of the Registrant's shares of Common Stock will fluctuate over time in response to developments related to individual assets in the Registrant's portfolio and the management of those assets and in response to the real estate and finance markets.

***Limitations of Estimated NAV Per Share***

The various factors considered by the Board in determining the estimated NAV per share were based on a number of assumptions and estimates that may not be accurate or complete. As mentioned above, the Registrant is providing this estimated NAV per share in connection with setting the repurchase price under the SRP for the period that began December 1, 2025. As with any

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valuation methodology, the methodologies used are based upon a number of estimates and assumptions that may not be accurate or complete. Different parties with different assumptions and estimates could derive a different estimated NAV per share. The estimated NAV per share is not audited and does not represent the fair value of the Registrant's assets or liabilities according to GAAP.

Accordingly, with respect to the estimated NAV per share, the Registrant can give no assurance that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•a stockholder would be able to resell his or her shares of Common Stock at this estimated value;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•a stockholder would ultimately realize distributions per share equal to the Registrant's estimated NAV per share upon liquidation of the Registrant's assets and settlement of its liabilities or a sale of the Registrant;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•the Registrant's shares of Common Stock would trade at the estimated NAV per share on a national securities exchange;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•an independent third-party appraiser or other third-party valuation firm would agree with the Registrant's estimated NAV per share; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•the methodology used to estimate the Registrant's estimated NAV per share would be acceptable for compliance with Employee Retirement Income Security Act (ERISA) reporting requirements.

Similarly, the amount a stockholder may receive upon repurchase of his or her shares of Common Stock, if he or she participates in the SRP, may be greater than or less than the amount a stockholder paid for the shares of Common Stock, regardless of any increase in the underlying value of any assets owned by the Registrant.

In addition, the estimated NAV per share is based on the estimated value of the Registrant's assets less the estimated value of the Registrant's liabilities divided by the number of shares of Common Stock outstanding on an interpolated basis, calculated as of December 31, 2025. The estimated NAV per share was based upon 16,062,568 shares of Common Stock outstanding as of December 31, 2025, which was comprised of (i) 13,345,167 outstanding shares of Common Stock, plus (ii) 2,717,401 shares of Common Stock into which limited partner interests in GTJ Realty, LP, the Registrant's operating partnership, may be converted.

Further, the value of the Registrant's shares of Common Stock will fluctuate over time in response to developments related to individual assets in the Registrant's portfolio and the management of those assets and in response to the real estate and finance markets. The estimated NAV per share does not reflect a real estate portfolio premium/discount versus the sum of the individual property values. The estimated NAV per share also does not take into account estimated disposition costs and fees for real estate properties that are not held for sale.

***Share Repurchase Program***

Pursuant to the SRP, stockholders desiring to participate in the SRP may have their shares of Common Stock redeemed by the Registrant at a redemption price per share equal to $26.19, which is 90% of the Registrant's estimated NAV per share. This redemption price for the shares of Common Stock is applicable for the period which began on December 1, 2025. For a full description of the terms and conditions of the SRP, please see the SRP document filed as Exhibit 99.2 to the Company's Form 8-K filed with the SEC on June 30, 2022.

**Forward-Looking Statements**

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## Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.

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| | |
|:---|:---|
| &nbsp;&nbsp;Exhibit Number | &nbsp;&nbsp;Description |
| &nbsp;&nbsp;99.1 | &nbsp;&nbsp;[<u>Letter to Stockholders, dated March 17, 2026</u>](gttj-ex99_1.htm) |
| &nbsp;&nbsp;99.2 | &nbsp;&nbsp;[<u>Consent of Kroll, LLC</u>](gttj-ex99_2.htm) |
| &nbsp;&nbsp;104<br>| &nbsp;&nbsp;Cover Page Interactive Data File (embedded within the Inline XBRL document). |

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**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

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| | | | |
|:---|:---|:---|:---|
|  |  |  | **GTJ REIT, Inc.** |
| Date: | March 12, 2026 | By:  | /s/ Louis Sheinker |
|  |  |  | Louis Sheinker<br>President and Chief Operating Officer |

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## Exhibit 99.1

![img222375266_0.jpg](img222375266_0.jpg)**Exhibit 99.1**

March 17, 2026

Dear Fellow Stockholder:

I am writing to you to provide you with updated information regarding the recently completed valuation of our portfolio and an estimated net asset value ("NAV") of our shares of common stock ("Common Stock") that was determined by our board of directors (the "Board") in connection with our share redemption program (the "Program") for the period that began on December 1, 2025 and will end on May 31, 2026.

***Estimated Net Asset Value Per Share***

On March 10, 2026, the Board, including all independent members of the Board, unanimously determined the NAV per share of Common Stock as $29.10 as of December 31, 2025, following a valuation of the company's assets and liabilities performed by Kroll, LLC (formerly Duff & Phelps, LLC) ("Kroll"). Additionally, pursuant to the Investment Program Association's practice guideline regarding valuations of publicly registered non-listed REITs to which the Kroll valuation methodology conforms, the estimated per share NAV does not include a portfolio premium that may reasonably be expected to accrue in a typical real estate portfolio valuation process conducted for transaction purposes, nor does it reflect an ongoing enterprise value.

The estimated per share NAV was determined by the Board after Kroll, an independent third-party valuation firm, appraised each of our properties and conducted valuation analyses of assets and liabilities. Kroll then divided the aggregate value of our property portfolio, cash and other assets, less the estimated value of outstanding debt and other liabilities, by the number of shares of Common Stock issued and outstanding, including interpolated shares from conversion of units from our operating partnership.

Kroll provided a range of estimated NAV per share of our Common Stock of $29.10 to $35.98, with an approximate mid-range NAV per share of $32.38. The Board then unanimously approved an estimated NAV per share for the Common Stock of $29.10, the low-range NAV per share. Please understand that Kroll's role was to provide advice to the Board. The Board ultimately and solely makes the decision on the conclusion of the NAV per share. For a full description of the methodology and assumptions used to determine the estimated per share NAV, please see our Current Report on Form 8-K that we filed with the U.S. Securities and Exchange Commission on March 12, 2026.

***Share Redemption Program and Repurchase Price***

In accordance with the Program, the per share redemption price is ninety percent (90%) of the NAV, or a redemption price of $26.19 per share. The estimated per share NAV of $29.10 per share and redemption price of $26.19 per share will be effective for the semi-annual period running from December 1, 2025 to May 31, 2026 and until such time as the Board determines a new estimated per share NAV.

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It is important to keep in mind that the estimated per share NAV of $29.10 is simply a snapshot as of a particular date (*i.e.*, December 31, 2025) and may fluctuate over time as we continue to purchase properties and actively manage our portfolio. The estimated per share NAV is not intended to represent the amount that you could expect to receive if you were to sell your shares now or when we complete a liquidity event. We do not expect any changes to our distribution policy as a result of the valuation.

If you are interested in participating in the Program, I encourage you to read the Program in full, which is available on our website at <u>http://www.gtjreit.com</u> under the "Investor Relations" tab. Thereafter, click on the copy of the Program and the share redemption request form in order to enroll in the Program. Detailed instructions for requesting redemption of your shares are set forth in the Program and on the share redemption request form available on our website. We will also send you a copy of the Program and/or share redemption form, via fax or electronic mail, if you prefer, if you call us in the office at (516) 693-5500.

As we continue to pursue our strategic plan, we will work to further enhance the value of our portfolio and to maximize shareholder value. Should you have any questions, please contact me, Louis Sheinker or Stuart Blau.

Sincerely,

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| |
|:---|
| /s/ Paul Cooper |
| Paul Cooper |
| Chief Executive Officer |

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## Exhibit 99.2

**Exhibit 99.2**

**CONSENT OF INDEPENDENT VALUATION EXPERT**

We hereby consent to the reference to our name and description of our role in the valuation process of GTJ REIT, Inc. (the "Company") being included or incorporated by reference into the Company's Registration Statements on Form S-8 (File Nos. 333-169557 and 333-218667) by being filed on a Current Report on Form 8-K, to be filed on the date hereof. In giving this consent, we do not admit that we are within the category of persons whose consent is required by Section 7 of the Securities Act of 1933, as amended.

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| | |
|:---|:---|
| March 12, 2026 | /s/ Kroll, LLC |
|  | Kroll, LLC |

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