Fee Simple Absolute NNN
For Sale
Contact for pricing
Pending
20 North Main Street, Allentown, NJ 08501
Fee-simple bank asset on a 15-year absolute NNN lease with remaining primary term and scheduled escalations.
Property Size2,830 SF
Days on Market98
Property Features for 20 North Main Street
General Information
Standard status
Pending
Size
2,830 SF
Property subtype
Retail
Lease Type
Absolute Net
Investment Type
Net Lease
Additional Details
Business Included
Yes
Building Details
Year Built
1975
Tenancy
Single
Listing Agency:
JLL Chicago | Americas Headquarters
Listed By:
Alex Sharrin · License #IL 475.170243
Source:
Crexi
Added: Jun 3
Changed: Aug 8
Last Checked: Jul 24 at 4:16PM
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 JLL Chicago | Americas Headquarters
Investment Insights
Based on property information with market context.
The offering is a fee simple bank property operating as a Fulton Bank location. The asset is supported by a 15-year absolute NNN lease structure, with approximately 13.0 years remaining in the primary lease term. Rent is set to increase with 2.25% annual escalations, and the lease includes three, five-year renewal options. The lease is described as having zero landlord responsibilities, shifting responsibility to the tenant under the absolute NNN terms.
Located at 20 N Main Street in Allentown, New Jersey, the property consists of 2,830 square feet (as provided) and is being presented as an investment opportunity for buyers seeking a stabilized, fee ownership position with an existing banking tenant.
For investors, the practical appeal here is the combination of fee simple ownership and an in-place absolute NNN lease with defined rent escalations and renewal options. With the tenant currently operating the space under the stated lease terms and zero landlord responsibilities, the asset is positioned to fit buyers looking for a straightforward income-stream profile tied to the existing lease agreement.
Located at 20 N Main Street in Allentown, New Jersey, the property consists of 2,830 square feet (as provided) and is being presented as an investment opportunity for buyers seeking a stabilized, fee ownership position with an existing banking tenant.
For investors, the practical appeal here is the combination of fee simple ownership and an in-place absolute NNN lease with defined rent escalations and renewal options. With the tenant currently operating the space under the stated lease terms and zero landlord responsibilities, the asset is positioned to fit buyers looking for a straightforward income-stream profile tied to the existing lease agreement.
Key Highlights
- Fee‑simple Fulton Bank at 20 N Main Street, Allentown, NJ
- Operating on a 15‑year absolute NNN lease with 13.0 years of primary term remaining
- 2.25% annual rent escalations
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$43,279
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.30%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$865,580
$865.6K
Cap Rate 7%
$618,271
$618.3K
Cap Rate 9%
$480,878
$480.9K
Market Conditions
NOI Build-Up for 2,830 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$61.1K $21.60/SF
− Vacancy
−$3.4K −$1.21/SF
EGI
$57.7K $20.39/SF
− OpEx
−$14.4K −$5.10/SF
NOI
$43.3K $15.29/SF
Area
Monmouth County, NJ
Vacancy
5.60%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$865,580
Cap Rate 7%
$618,271
Cap Rate 9%
$480,878
Alternative Uses
Best Use
Specialty Retail
$618.3K
$541.0K – $721.3K
NOI $43,279 @ 7.0% cap · market cap 5.30%
Second Best
Retail
$577.0K
$504.9K – $673.2K
NOI $40,393 @ 7.0% cap · market cap 4.95%
Theoretical Best
Office A
$739.0K
$646.6K – $862.1K
NOI $51,728 @ 7.0% cap · market cap 6.34%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
292
Businesses Nearby
2k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Fulton Bank
Shops & Services
1,714 visits/mo
0.1 miles
Demographics for 08501, NJ
6,574
Population
2,495
Households
2.6
Avg Household Size
46
Median Age
60%
College-Educated
96%
High-School Grad
27.2 sq mi
ZIP Area
242
Density / Sq Mi
$133,015
Median Household Income
$71,700
Median Earnings
$1,457
Median Rent
$530,100
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Bank - Fee-simple bank asset on a 15-year absolute NNN lease with remaining primary term and scheduled escalations.
Where is this bank located?
The property is located at 20 North Main Street Allentown, NJ.
What is the asking price?
The asking price for this property is $816,000.
What are key features of this property?
This property features: Fee‑simple Fulton Bank at 20 N Main Street, Allentown, NJ; Operating on a 15‑year absolute NNN lease with 13.0 years of primary term remaining; 2.25% annual rent escalations
