Listing Agency: SRS Real Estate Partners Newport Beach k***@srsre.com Show Phone

Listed By: Patrick R. Luther, CCIM · License #CA License No. 01912215

Source: Crexi

Added: Apr 10 Changed: Jul 22 Last Checked: Jul 30 at 8:44AM

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Investment Insights

Based on property information with market context.

The fee simple offering includes a BB&T bank property leased under an absolute NNN structure with a corporate guarantee. The lease provides 9 years remaining in the primary term, along with two (5-year) options and one (4-year) option to extend. Rental payments feature rare 2% annual increases throughout the initial term and option periods, with the property described as having zero landlord responsibilities under the absolute NNN lease structure.

The site is positioned along Mullica Hill Road (28,700 VPD) just off State Highway 55 (48,600 VPD). The building includes a 3-lane drive-thru for customer convenience. The property is about 3 miles west of Rowan University and is in close proximity to several national/credit retailers, including ALDI, LA Fitness, Staples, CVS Pharmacy, Dollar Tree, and Wawa.

The surrounding trade area is supported by over 85,000 residents and more than 31,600 employees within 5 miles, and an average household income of $176,203 within 1 mile.

Key Highlights

• Fee simple absolute NNN leased building with corporate guarantee to BB&T (tenant: Branch Banking and Trust Company)
• 9 years remaining in the primary lease term, plus 2 (5‑year) options and 1 (4‑year) option to extend
• 2% annual rental increases throughout the initial term and option periods

Property Analytics

Current Use

Banks

Suggested Use

Top Pick Parking Lot & Garage Building Supply Storage Facility Plumbing Service Dental Office Grocery & Convenience Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

94

Businesses Nearby

88k

Monthly Visits Nearby

Explore this area Business Placement

Foot Traffic Nearby

Shops & Services 85% Dining 15%

Wawa Shops & Services

74,966 visits/mo 0.3 miles

Dunkin' Donuts Dining

12,775 visits/mo 0.0 miles

Demographics for 08062, NJ

17,446

Population

5,796

Households

3

Avg Household Size

40

Median Age

54%

College-Educated

95%

High-School Grad

32.2 sq mi

ZIP Area

542

Density / Sq Mi

$159,386

Median Household Income

$74,254

Median Earnings

$1,097

Median Rent

$468,600

Median Home Value

Market

Vacancy Rate% for Retail in Northeast region

6% 2019

7.1% 2020

6.5% 2021

6% 2022

5.7% 2023

5.6% 2024

6% 2025

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Frequently Asked Questions

What type of property is this?

NNN property - Fee simple absolute NNN BB&T investment with corporate guarantee, three-lane drive-thru, and 9 years remaining on the lease.

Where is this nnn property located?

The property is located at 638 Mullica Hill Road Richwood, NJ.

What are key features of this property?

This property features: Fee simple absolute NNN leased building with corporate guarantee to BB&T (tenant: Branch Banking and Trust Company); 9 years remaining in the primary lease term, plus 2 (5‑year) options and 1 (4‑year) option to extend; 2% annual rental increases throughout the initial term and option periods