BB&T

  • $1.8M
638 Mullica Hill Road, Mullica Hill, NJ 08062, USA

BB&T

638 Mullica Hill Road, Mullica Hill, NJ 08062, USA
  • $1.8M

Sub listings

Title Property Type Price Beds Baths Property Size Availability Date
sqft

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 Richwood, 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 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.
The subject property is strategically located along Mullica Hill Road (28,700 VPD), just off State Highway 55 (48,600 VPD), a major north/south commuter thoroughfare serving the southern portion of New Jersey. The building also features a 3-lane drive-thru, providing ease and convenience for customers. The asset is just 3 miles west of Rowan University, a popular public research institution with over 19,000 students currently enrolled, providing a direct consumer base from which to draw. Additionally, the site is in close proximity to national/credit tenants including ALDI, LA Fitness, Staples, CVS Pharmacy, Dollar Tree, Wawa, and more, increasing consumer draw to the trade area. The 5-mile trade area is supported by a population of over 85,000 residents and more than 31,600 employees. The 1-mile trade area boasts an extremely affluent average household income of $176,203.

Investment Highlights
9 Years Remaining | Corporate Guaranteed Lease | Rare Annual Increases
Absolute NNN | Fee Simple Ownership | Zero Landlord Responsibilities
Major Thoroughfare | Just Off State Highway 55 | Drive-Thru Equipped
Close Proximity to Rowan University (19,000 + Students) | Nearby National/Credit Tenants
Strong Demographics In 5-mile Trade Area | Affluent 1-Mile Trade Area

Details

Updated on April 12, 2020 at 6:38 pm
  • Property ID: 30841
  • Price: $1.8M
  • Property Size: 3024 sqft
  • Year Built: 2006
  • Property Type: Retail
  • Property Status: For Sale
  • Price Per/Sf: 579.37
  • Lot Size (acres): 1.24
  • Tenancy: Single
  • Cap Rate: 6.25%
  • Net Operating Income: 109,518

Additional details

  • Lease Type: Absolute NNN
  • Tenant Credit: Corporate Guarantee, Credit Rated
  • Zoning: C1
  • Rent Bumps: 2% Annual
  • APN: 08-00002-0000-00002
  • Ownership: Fee Simple
  • Address 638 Mullica Hill Road, Mullica Hill, NJ 08062, USA
  • City Mullica Hill
  • State/county New Jersey
  • Zip/Postal Code 08062
  • 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