Listed by JLL Chicago | Americas Headquarters, JLL - New York City, New York, JLL - Irvine (Orange County), California
$816,000
Fulton Bank - Allentown, NJ
Details
Property Type Retail
Sub Type Bank
Square Footage 2,830
Cap Rate 6.25%
NOI $51,023
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 1975
Acreage 0.790
Investment Type Net Lease
Tenant Credit Credit Rated
Ground Lease No
Retail | 6.25% CAP | 2,830 SqFt
Marketing description
Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to offer the opportunity to acquire the fee simple Fulton Bank located at 20 N Main Street in Allentown, 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
- Sub $1M price point with below market rent of $51K annually
- Strong demand characteristics driven by 3-mile AHHI of $208K
- Frontage along N Main Street with accessibility to 24,000+ VPD
- Allentown has experienced significant real estate and economic growth with high-income commuters moving to the area
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
$51,023.00
$4,251.92/mo
Valuation Metrics
0
DSCR
6.25%
Cap Rate
6.25%
ROI
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