Listed by JLL Chicago | Americas Headquarters, JLL - New York City, New York, JLL - Irvine (Orange County), California
$1,374,000
Fulton Bank - Mantua Township, NJ
Details
Property Type Retail
Sub Type Bank
Square Footage 3,292
Cap Rate 6%
NOI $82,428
Tenancy Single
Lease Type Absolute NNN
Lease Expiration 05/31/2039
Remaining Term 13
Rent Bumps Yes
Lease Options Three (3), Five-Year Options
Year Built 1994
Acreage 1.480
Investment Type Net Lease
Tenant Credit Credit Rated
Ground Lease No
Retail | 6.00% CAP | 3,292 SqFt
Marketing description
Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to offer the opportunity to acquire the fee simple Fulton Bank located at 2200 Bridgeton Pike in Mantua Township, New Jersey (“Property” or “Asset”). Fulton Bank is operating on a 15-year absolute NNN lease with ±13.0 years of primary lease term remaining, 2.25% annual rent escalations, three, five-year renewal options and zero landlord responsibilities.
NJ Broker of Record: Jose Cruz - NJ License #: 8743725
Investment highlights
- Absolute NNN lease with ±13.0 years of primary lease term remaining
- Rare 2.25% annual rent escalations
- Fulton Bank carries investment grade credit ratings of 'A' from Morningstar DBRS and 'Baa1' from Moody's
- Exceptional deposits of $212M, the 2nd highest in Gloucester County
- Strong demand characteristics driven by 1-mile AHHI of $133K
- Hard corner, signalized intersection with 24,000+ VPD
- 16 miles south of downtown Philadelphia along major roadway in Southern Jersey
Listing Contacts
Listed by JLL Chicago | Americas Headquarters, JLL - New York City, New York, JLL - Irvine (Orange County), California
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$82,428.00
$6,869.00/mo
Valuation Metrics
0
DSCR
6%
Cap Rate
6%
ROI
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