BB&T

  • $1.6M
249 White Horse Pike, Atco, NJ 08004, USA

BB&T

249 White Horse Pike, Atco, NJ 08004, USA
  • $1.6M

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Title Property Type Price Beds Baths Property Size Availability Date
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Description

Marketing Description
SRS National Net Lease Group is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN leased, corporate guaranteed, BB&T (S&P: A-) investment property located in Atco, NJ (Philadelphia MSA). The tenant, Branch Banking and Trust Company, has 9 years remaining in their primary term with 2 (5-year) options and 1 (4-year) option period to extend. The lease features rare 2% annual rental increases throughout the initial term and option periods, steadily growing NOI and hedging against inflation. The lease is absolute NNN with zero landlord responsibilities making it an ideal, management free investment opportunity for an out of state investor. This branch has the second highest deposits for BB&T in Camden County at $84,067,000, a 20% increase from the previous year.
The subject property is strategically located at the signalized, hard corner intersection of White Horse Pike and Pinehurst Drive with 23,000 vehicles passing by daily. The asset has excellent visibility and access along US Highway 30, which serves as a major east/west thoroughfare leading into the heart of Atlantic City. The building also features a 3-lane drive thru, providing ease and convenience for customers. Additionally, the asset sits just 1 mile from the Atco Train station, serving NJ Transit trains and the 554 bus route, providing a direct consumer base from which to draw. The 5-mile trade area is supported by a population of over 76,500 residents with an affluent average household income of $109,165.

Investment Highlights
9 Years Remaining | Corporate Guaranteed Lease | Rare Annual Increases | Increase In Deposits
Absolute NNN | Fee Simple Ownership | Zero Landlord Responsibilities
Signalized, Hard Corner Intersection | Drive-Thru Equipped | Excellent Visibility & Access
Close Proximity to Atco Station | Strong Demographics In 5-mile Trade Area

Details

Updated on April 12, 2020 at 6:38 pm
  • Property ID: 30853
  • Price: $1.6M
  • Property Size: 2696 sqft
  • Year Built: 1990
  • Property Type: Retail
  • Property Status: For Sale
  • Price Per/Sf: 578.26
  • Lot Size (acres): 0.78
  • Cap Rate: 6.25%
  • Net Operating Income: 97,438

Additional details

  • Lease Type: Absolute NNN
  • Tenant Credit: Corporate Guarantee, Credit Rated
  • Zoning: PHB
  • Rent Bumps: 2% Annual
  • APN: 35-00303-0000-00001
  • Ownership: Fee Simple(Land & Building Ownership)
  • Address 249 White Horse Pike, Atco, NJ 08004, USA
  • City Atco
  • State/county New Jersey
  • Zip/Postal Code 08004
  • Country United States

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Contact Information

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Britt Raymond
  • Britt Raymond
  • (929) 229-2614

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Britt Raymond
  • Britt Raymond