1072 US Highway 46 | Parsippany, NJ 07054
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1072 US Highway 46
Parsippany, NJ 07054
Bank Of America · Retail Property For Sale
INVESTMENT HIGHLIGHTS
- Parsippany, NJ, just 30 miles outside of New York City, is an affluent, flourishing and high barrier to entry market
- Affluent county in New Jersey with average household incomes in excess of $158,000 within a 5-mile radius - steady deposit growth at location ($117M)
- Tenant built-new and paid for the improvements in 2016 and signed a long-term absolute-net lease with zero landlord expenses or responsibilities
- The absolute-net lease is corporately guaranteed by Bank of America, NA, a multinational investment bank rated A+ by Standard & Poors
- 12% rental increases every 5-years throughout the base term and in each option period of the lease
- The subject property is situated at a hard signaled corner, boasts a double drive-thru and positive population growth in the one, three and five-mile
PROPERTY FACTS
Property Type
Retail
Property Subtype
Building Size
3,276 SF
Building Class
B
Year Built
2016
Tenancy
Single
Building Height
1 Story
Building FAR
0.08
Lot Size
0.98 AC
Zoning
B-2
Parking
35 Spaces (10 Spaces per 1,000 SF Leased)
Frontage
93’ on Route 46
AMENITIES
- 24 Hour Access
- Banking
- Bus Line
- Corner Lot
- Freeway Visibility
- Signage
- Signalized Intersection
- Drive Thru
PROPERTY TAXES
| Parcel Number | 29-00717-0000-00010-01 | Improvements Assessment | $561,600 |
| Land Assessment | $735,000 | Total Assessment | $1,296,600 |
PROPERTY TAXES
Parcel Number
29-00717-0000-00010-01
Land Assessment
$735,000
Improvements Assessment
$561,600
Total Assessment
$1,296,600
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