Fee Simple NNN Bank
For Sale
Contact for pricing
100 Park Avenue, Woodbury, NJ 08096
Fee simple bank asset leased on a long-term absolute NNN structure with remaining primary term.
Property Size8,343 SF
Price / SF$425.03
Days on Market69
Property Features for 100 Park Avenue
General Information
Standard status
Active
Size
8,343 SF
Class
A
Property subtype
Retail
Lease Type
Absolute NNN
Investment Type
Net Lease
Net Operating Income
$237,551
Building Details
Year Built
1995
Tenancy
Single
Listing Agency:
JLL Chicago | Americas Headquarters
Listed By:
Alex Sharrin · License #IL 475.170243
Source:
Crexi
Added: Jun 3
Changed: Aug 8
Last Checked: Jul 15 at 3:49PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of JLL Chicago | Americas Headquarters
Investment Insights
Based on property information with market context.
This offering presents a fee simple bank property occupied by Fulton Bank and operated under a 15-year absolute NNN lease. The lease includes approximately 13.0 years remaining of primary term, 2.25% annual rent escalations, three renewal options, and two five-year renewal options. The structure is described as having zero landlord responsibilities, shifting responsibility under the lease terms.
The property is located at 100 Park Avenue in Woodbury, New Jersey. The buyer is acquiring the fee simple interest while the tenant continues to operate under the existing lease schedule.
For investors or owner-users looking for a leased specialty banking asset, the absolute NNN framework and the remaining primary lease term are central considerations. With specified annual escalations and multiple renewal options included in the lease, the asset is positioned for buyers who want a stabilized income stream supported by the terms of the tenant’s agreement, subject to the details of the lease documents.
The property is located at 100 Park Avenue in Woodbury, New Jersey. The buyer is acquiring the fee simple interest while the tenant continues to operate under the existing lease schedule.
For investors or owner-users looking for a leased specialty banking asset, the absolute NNN framework and the remaining primary lease term are central considerations. With specified annual escalations and multiple renewal options included in the lease, the asset is positioned for buyers who want a stabilized income stream supported by the terms of the tenant’s agreement, subject to the details of the lease documents.
Key Highlights
- Fee simple Fulton Bank property at 100 Park Avenue, Woodbury, New Jersey
- 15‑year absolute NNN lease in place with 13.0 years of primary term remaining
- 2.25% annual rent escalations under the lease
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$106,886
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.01%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,137,720
$2.1M
Cap Rate 7%
$1,526,943
$1.5M
Cap Rate 9%
$1,187,622
$1.2M
Market Conditions
NOI Build-Up for 8,343 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$150.2K $18.00/SF
− Vacancy
−$7.7K −$0.92/SF
EGI
$142.5K $17.08/SF
− OpEx
−$35.6K −$4.27/SF
NOI
$106.9K $12.81/SF
Area
Gloucester County, NJ
Vacancy
5.10%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,137,720
Cap Rate 7%
$1,526,943
Cap Rate 9%
$1,187,622
Alternative Uses
Best Use
Specialty Retail
$1.53M
$1.34M – $1.78M
NOI $106,886 @ 7.0% cap · market cap 3.01%
Second Best
Retail
$1.35M
$1.18M – $1.57M
NOI $94,440 @ 7.0% cap · market cap 2.66%
Theoretical Best
Office A
$2.80M
$2.45M – $3.27M
NOI $196,309 @ 7.0% cap · market cap 5.54%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
555
Businesses Nearby
14k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
AutoZone
Shops & Services
8,305 visits/mo
0.4 miles
Fulton Bank
Shops & Services
3,982 visits/mo
0.3 miles
Enterprise Rent-A-Car
Shops & Services
1,347 visits/mo
0.3 miles
Demographics for 08096, NJ
36,355
Population
15,013
Households
2.4
Avg Household Size
41
Median Age
30%
College-Educated
92%
High-School Grad
13.9 sq mi
ZIP Area
2,615
Density / Sq Mi
$89,483
Median Household Income
$49,480
Median Earnings
$1,446
Median Rent
$248,400
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Bank - Fee simple bank asset leased on a long-term absolute NNN structure with remaining primary term.
Where is this bank located?
The property is located at 100 Park Avenue Woodbury, NJ.
What is the asking price?
The asking price for this property is $3,546,000.
What are key features of this property?
This property features: Fee simple Fulton Bank property at 100 Park Avenue, Woodbury, New Jersey; 15‑year absolute NNN lease in place with 13.0 years of primary term remaining; 2.25% annual rent escalations under the lease
