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Citizens Bank (Dark) 40 Broad st 3,000 SF 100% Leased Retail Building Three Bridges, NJ 08887 $1,995,000 ($665/SF) 10.75% Cap Rate
INVESTMENT HIGHLIGHTS
- Redevelopment Opportunity – Remaining Rent Obligations Provide Time to Reposition the Asset
- Signalized Hard-Corner Location on US Hwy 202 (33,968 VPD)
- Affluent Trade Area – $177,809 Average Household Income (5-Mile Radius)
- Absolute Net Lease With 2.9 Years Remaining
- Prime 2.25-Acre Corner Parcel With Extensive Three-Street Frontage
- Strong Demographic Base – 165,601 Residents in the 10-Mile Trade Area
EXECUTIVE SUMMARY
This offering provides a strong redevelopment opportunity supported by an Absolute Net lease requiring full contractual rent through November 30, 2028, with no landlord responsibilities, including roof and structure. This allows an investor to reduce their effective basis without incurring operating or capital costs. The 2.25-acre hard-corner site offers a substantial undeveloped area, multi-street frontage, and immediate adjacency to the signalized US Hwy 202 intersection, delivering excellent visibility and flexible future use. The property also features durable brick construction, a multi-lane drive-through, and a 2009 renovation, supporting long-term usability for banks, medical users, QSR, or professional services.
Broker of Record
Jim McGuckin
Regional Manager, New Jersey
250 Pehle Ave., Suite 501
Saddle Brook, NJ 07663
(201) 742-6100
License: 2082114
Broker of Record
Jim McGuckin
Regional Manager, New Jersey
250 Pehle Ave., Suite 501
Saddle Brook, NJ 07663
(201) 742-6100
License: 2082114
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Bank
Building Size
3,000 SF
Building Class
B
Year Built/Renovated
1970/2009
Price
$1,995,000
Price Per SF
$665
Cap Rate
10.75%
NOI
$214,383
Percent Leased
100%
Building Height
1 Story
PROPERTY TAXES
| Parcel Number | 22-00089-0000-00001 | Improvements Assessment | $598,500 |
| Land Assessment | $337,500 | Total Assessment | $936,000 |
PROPERTY TAXES
Parcel Number
22-00089-0000-00001
Land Assessment
$337,500
Improvements Assessment
$598,500
Total Assessment
$936,000
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Citizens Bank (Dark) | 40 Broad st
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