Bank of America Ground
For Sale
$3,990,000
101 South Ave, Cranford, NJ 07016
Long-term ground lease with renewal options in affluent Cranford Township.
Property Size4,050 SF
Price / SF$985.19
Days on Market228
Property Features for 101 South Ave
General Information
Standard status
Active
Size
4,050 SF
Listing Agency:
BHHS FOX & ROACH
Listed By:
TIM DELUCCIA · License #8243435
(732) 469-1515
Source:
Goldstandardrealty
Added: Mar 5
Changed: Oct 13
Last Checked: Oct 7 at 1:43PM
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 BHHS FOX & ROACH
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Investment Insights
Based on property information with market context.
This property features a 4,050 square foot Bank of America building with double drive-through lanes. It is located at a hard corner signalized intersection in Cranford Township, Union County. The location benefits from high traffic volume, with 30,000 vehicles per day, and is less than half a mile from the Cranford NJ Transit Station. The lease includes four five-year renewal options, each with 20% rent increases. Bank of America has a Standard & Poor's credit rating of A-/Stable. The location has over $67 million in deposits. The surrounding area has excellent demographics, with over 461,000 people within 5 miles and an average household income exceeding $167,000. The property offers easy access to several local highways, including I-95, Garden State Parkway, Route 22, 28, 9, and I-78. Nearby national retailers include Dunkin Donuts, Home Depot, Shoprite, McDonalds, Quick Check, Wawa, and Wendy's. The Net Operating Income (NOI) is $319,440, with a cap rate of 8.00%.
Key Highlights
- Bank of America Long Term Ground Lease with A-/Stable Credit Rating
- High Traffic Location: 30,000 Vehicles Per Day at Signalized Hard Corner
- Strong Financial Performance: $67M+ Deposits at This Bank of America Location
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,443
Businesses Nearby
108k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 54%
Groceries 23%
Dining 22%
Beauty & Spa 1%
Lidl
Groceries
25,300 visits/mo
0.3 miles
Taco Bell
Dining
13,747 visits/mo
0.4 miles
Dollar General
Shops & Services
13,384 visits/mo
0.2 miles
Pet Supplies Plus
Shops & Services
11,903 visits/mo
0.3 miles
Chase Bank
Shops & Services
6,280 visits/mo
0.1 miles
Demographics for 07016, NJ
23,827
Population
9,619
Households
2.5
Avg Household Size
42
Median Age
65%
College-Educated
97%
High-School Grad
4.7 sq mi
ZIP Area
5,070
Density / Sq Mi
$148,629
Median Household Income
$84,980
Median Earnings
$2,116
Median Rent
$635,800
Median Home Value
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Market
Vacancy Rate% for Retail in Northeast region
Frequently Asked Questions
What type of property is this?
Bank - Long-term ground lease with renewal options in affluent Cranford Township.
Where is this bank located?
The property is located at 101 South Ave Cranford, NJ.
What is the asking price?
The asking price for this property is $3,990,000.
What are key features of this property?
This property features: Bank of America Long Term Ground Lease with A-/Stable Credit Rating; High Traffic Location: 30,000 Vehicles Per Day at Signalized Hard Corner; Strong Financial Performance: $67M+ Deposits at This Bank of America Location
