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DOM: 156 Updated: 09.10.24 Posted: 03.23.24 Status: Sold 08.26.24

Summary

Price $985,000 $1,067,000
Built/Renov 1980/2024
Tenant Fulton Bank
Cap Rate 6.50% 6.00%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 2,599
Lease Start 01-20-2024
#Units 250
Price/SF $378.99 $410.54
Expiration 01-20-2031
Tenant Type Bank/Financial
NOI $64,000
R. Term 5.7
Ownership Fee Simple
Rent/SF $24.62
Increases 2.5%/1/yrs
Pop 5Mi 110,692
Lot/AC 0.70
Options 2/5yrs/2.5%
AHHI 5Mi $138,477

Highlights

  • Fulton Bank recently executed a brand-new 7-year lease with 2 (5-year) options to extend
  • The lease features 2.5% annual rental escalations throughout the initial term and option periods
  • Absolute NNN | Zero landlord responsibilities
  • Corporate guaranteed lease

Location Description

Fulton Bank is strategically located on N. Broadway, with access to 5,300 vehicles passing by daily. The property is conveniently situated just over 1 mile from Rowan University in Glassboro and 3 miles from Rowan. Nearby, well-known national tenants include Chase, Lidl, Ross, Dollar Tree, Pep Boys, and more. Educational institutions such as Thomas E. Bowe Middle School, Glassboro High School,...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Fulton Bank
  • Guarantor:Corp T and Rated
  • Company:Fulton Financial Corp
  • # Units:250
  • Moody’s: Baa1
  • Stock: NASDAQ: FULT

About Tenant

Fulton Bank offers a broad array of financial products and services in the Mid-Atlantic region including financial products for personal, small business, and commercial use. Fulton Bank opened...


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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 9,291 49,033 111,529
2023 Total Population : 9,368 48,955 110,692
2023 Employed Civilian Pop : 4,815 23,075 55,700
2023 Total Businesses : 289 1,353 3,243
2023 Average Household Income : $ 107,055 $ 130,607 $ 138,477
2023 Total Consumer Spending : $ 332 M $ 1808 M $ 4631 M
2023 Median Age : 44 35 39
2023 Total Households : 3,662 16,324 39,530
2023 Pop Age 25+: Bachelor's Degree : 2,010 8,908 21,356
2023 Average Home Value : $ 296,425 $ 345,085 $ 351,267
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
E Holly Ave Simpson Ave 2011 5,885 0.11 mi
East Holly Avenue Linden Ave 2020 4,530 0.12 mi
S Broadway Theatre Ave 2014 6,096 0.13 mi
East Holly Avenue 2018 5,475 0.16 mi
W Holly Ave Walnut Ave 2011 5,310 0.22 mi
N Broadway Kenton Ave 2011 6,310 0.25 mi
Pitman Ave S Summit Ave 2012 3,729 0.27 mi
Pitman Avenue S Summit Ave 2017 4,789 0.29 mi
South Broadway 2018 3,931 0.30 mi
W Holly Ave Elm Ave 2010 4,832 0.34 mi

Listing Broker

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