Fee Simple NNN Bank
272 US Highway 46 Rockaway, NJ 07866
272 US Highway 46, Rockaway, NJ, 07866
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For Sale
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Pending
Fee simple bank asset with an absolute NNN lease and remaining primary term for steady tenant operations.
Property Size4,985 SF
Days on Market49
Property Features for 272 US Highway 46
General Information
- Standard status
- Pending
- Size
- 4,985 SF
- Property subtype
- Retail
Building Details
- Year Built
- 1992
Listing agency
JLL Chicago | Americas Headquarters
Listed by
Alex Sharrin · License #IL 475.170243
Source
Crexi
Added: Jun 3 Updated: Jul 10 at 1:51PM Checked: Jul 21 at 6:02AM
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.
This fee simple bank property is occupied by Fulton Bank under a 15-year absolute NNN lease. The lease has approximately 13.0 years remaining in the primary term, includes 2.25% annual rent escalations, and offers three renewal options, each with a five-year term length. The lease structure is described as having zero landlord responsibilities.
The asset is located at 272 US Highway 46 in Rockaway, New Jersey, and is offered for sale on a fee simple basis. The offering includes details provided in the public remarks regarding the lease terms and landlord obligations.
For a buyer seeking a single-tenant, lease-structured investment, the key considerations here are the absolute NNN nature of the lease, the stated remaining primary term of approximately 13.0 years, and the contractual 2.25% annual escalations. The renewal options provide additional extendibility beyond the primary lease period, subject to tenant election under the lease provisions.
The asset is located at 272 US Highway 46 in Rockaway, New Jersey, and is offered for sale on a fee simple basis. The offering includes details provided in the public remarks regarding the lease terms and landlord obligations.
For a buyer seeking a single-tenant, lease-structured investment, the key considerations here are the absolute NNN nature of the lease, the stated remaining primary term of approximately 13.0 years, and the contractual 2.25% annual escalations. The renewal options provide additional extendibility beyond the primary lease period, subject to tenant election under the lease provisions.
Key Highlights
- Fee simple Fulton Bank property at 272 US Highway 46 in Rockaway, New Jersey
- 15‑year absolute NNN lease in place with about 13.0 years of primary term remaining
- 2.25% annual rent escalations under the lease
Local Financial Insights For Specialty Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $107.7k | $21.60 |
| − Vacancy | −$6.0k | −$1.21 |
| EGI | $101.6k | $20.39 |
| − OpEx | −$25.4k | −$5.10 |
| NOI | $76.2k | $15.29 |
4,985 SF · lease $21.60/SF/yr · vacancy 5.60% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$1.09M
$952.9K – $1.27M
NOI $76,235 @ 7.0% cap · market cap 5.34%
Second Best
Retail
$1.02M
$889.4K – $1.19M
NOI $71,152 @ 7.0% cap · market cap 4.98%
Theoretical Best
Office A
$1.30M
$1.14M – $1.52M
NOI $91,118 @ 7.0% cap · market cap 6.38%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Banks
Similar For Sale Nearby
FAQs
What type of property is this?
Bank - Fee simple bank asset with an absolute NNN lease and remaining primary term for steady tenant operations.
Where is this bank located?
The property is located at 272 US Highway 46 Rockaway, NJ.
What is the asking price?
The asking price for this property is $1,428,000.
What are key features of this property?
This property features: Fee simple Fulton Bank property at 272 US Highway 46 in Rockaway, New Jersey; 15‑year absolute NNN lease in place with about 13.0 years of primary term remaining; 2.25% annual rent escalations under the lease
