Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Bank of America Ground Lease Title is generated by Realmo AI

    101 South Ave, Cranford, NJ 07016

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $3,990,000

    Long-term ground lease with renewal options in affluent Cranford Township.

    Type:Commercial
    Property size:
    4,050 SF
    Lot size:
    0.47 Acres
    Price / SF:
    $985/SF
    Added:
    Sep 25, 2025
    Days on Market:
    240
    Last Refresh:
    Apr 5 at 8:20 pm

    Property Features for 101 South Ave

    General Information

    Standard status
    Active
    Size
    4,050 SF
    Lot size
    0.47 Acres
    Property subtype
    Commercial

    Building Details

    Year Built
    9999

    We can help!

    Listing Contact
    TIM DELUCCIA

    Listing agent TIM DELUCCIA

    Listing office BHHS FOX & ROACH

    Listing date Sep 25, 2025

    Source Corcoran

    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

    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
    • Favorable Lease Terms: Four (4) Five (5) Year Renewal Options with 20% Rent Increases
    • Excellent Demographics: Affluent Cranford Township with High Population Density and Income
    • High NOI and Cap Rate: $319,440 NOI and 8.00% Cap Rate

    Overview

    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%.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Banks

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Cranford
    County
    Union
    State
    New Jersey
    Longitude
    -74.3116
    Latitude
    40.6534

    Nearby Similar for Sale

    • $1,790,000
      5,352 SF

      Mixed-Use Property in Cranford, NJ

      Over 5,000 SF mixed-use property on a large lot.
      198 North Avenue E, Cranford, NJ 07016
      View Details
    • $3,990,000
      4,050 SF

      Bank of America Ground Lease

      Bank branch with drive-thru in affluent Cranford Township.
      101 South Ave, Cranford Twp., NJ 07016
      View Details
    • $680,000
      1,900 SF

      Spacious Two-Family Home Near NYC

      Two-family home with large backyard, near NYC transportation.
      109 Myrtle St, Cranford Twp., NJ 07016-3233
      View Details
    • $1,900,000
      5,352 SF

      Medical Office Space For Sale

      Three-unit medical office building with ample parking and potential.
      198 North Avenue E, Cranford, NJ 07016
      View Details
    • Contact for pricing
      375 SF

      Drive-Thru Restaurant Opportunity

      Drive-thru restaurant on 0.22 acres near Garden State Parkway.
      2 Springfield Avenue, Cranford, NJ, 07016
      View Details
    • $1,575,000
      15,750 SF

      Mixed-Use Investment Property For Sale

      99% occupied mixed-use property with storage, warehouse, office, and residential.
      331-333 Centennial Ave, Cranford, NJ
      View Details
    • $785,000
      2,100 SF

      Prime Cranford Office Building

      Standalone building in Cranford's growing downtown business corridor.
      10 South Ave, Cranford Twp., NJ 07016
      View Details
    • $799,000

      Renovated Two-Family Home with Garage

      Completely renovated two-family home with garage and convenient location.
      336 North Ave East, Cranford Twp., NJ 07016-2435
      View Details
    • $1,900,000
      5,352 SF

      Medical Office with Exam Rooms

      Three-unit medical office with multiple exam rooms and parking.
      198 North Ave, Cranford Twp., NJ 07016
      View Details
    • Contact for pricing
      11,000 SF

      Cranford Office Building For Sale

      Office building with flexible space available in Cranford, NJ.
      216 North Ave E, Cranford, NJ
      View Details
    • $110,000

      Established Tanning Salon For Sale

      Turnkey tanning salon with loyal customer base in Cranford.
      1202 Raritan Road, Cranford Twp., NJ 07016
      View Details
    • $2,750,000
      8,734 SF

      Downtown Cranford Strip For Sale

      Fully occupied 8,734 SF strip mall in downtown Cranford.
      8 Eastman St, Cranford, NJ
      View Details

    FAQs

    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
    (732) 469-1515
    We can help!
    Listing Contact
    TIM DELUCCIA
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    101 South Ave, Cranford Twp., NJ 07016
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!