Bank of America Ground
For Sale
$4,259,000
101 South Ave, Cranford, NJ 07016
Long-term Bank of America ground lease in Cranford Township.
Property Size4,050 SF
Lot Size0.47 Acres
Price / SF$1,051
Days on Market164
Property Features for 101 South Ave
General Information
Standard status
Active
Size
4,050 SF
Lot size
0.47 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$47,595
Building Details
Building Size
4,050 SF
Year Built
9999
Stories
1
Units
1
Listing Agency:
Deluccia Commercial Group/Berkshire Hathway Fox & Roach Realtors.
(732) 469-1515
Listed By:
TIM DELUCCIA · License #8243435
Source:
Elliman
Added: Mar 11
Changed: Aug 10
Last Checked: Aug 20 at 9:08AM
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 Deluccia Commercial Group/Berkshire Hathway Fox & Roach Realtors.
Investment Insights
Based on property information with market context.
This property features a Bank of America ground lease, situated on a hard corner at a signalized intersection in Cranford Township, Union County. The 4,050 square foot bank building includes double drive-through lanes. 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, with a Standard & Poor's credit rating of A-/Stable, has over $67 million in deposits at this location. The area boasts excellent demographics, with over 461,000 people within a 5-mile radius and an average household income exceeding $167,000. The property offers easy access to major 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 7.50%.
Key Highlights
- Bank of America Long Term Ground Lease with A-/Stable Credit Rating
- $319,440 NOI with a 7.50% Cap Rate
- High Traffic Location: 30,000 Vehicles Per Day at Signalized Intersection
Property Analytics
Property Profile
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
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 - Long-term Bank of America ground lease in 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 $4,259,000.
What are key features of this property?
This property features: Bank of America Long Term Ground Lease with A-/Stable Credit Rating; $319,440 NOI with a 7.50% Cap Rate; High Traffic Location: 30,000 Vehicles Per Day at Signalized Intersection
