Bank of America Ground
101 South Ave Cranford, NJ 07016
101 South Ave, Cranford, NJ, 07016
$4,259,000
For Sale
$4,259,000
Long-term Bank of America ground lease in Cranford Township.
Property Size4,050 SF
Lot Size0.47 Acres
Price / SF$1,051
Days on Market133
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
Listing Agency
BHHS FOX & ROACH
(732) 469-1515
Listed by
TIM DELUCCIA
Source
Elliman
Added: Mar 11 Updated: Jul 6 at 11:01 am Checked: Jul 20 at 4:00 am
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
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
Location Intelligence
Current Use by Public Records
Banks
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FAQs
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
