Bank Of America Ground Lease | Strong Deposits Exceeding $106M

13-14 River Rd, Fair Lawn, NJ 07410, USA
$6,368,421

Description

Marcus & Millichap is pleased to present for sale this Bank of America Absolute NNN Ground Lease located at 13-14 River Road in Fair Lawn, New Jersey. Fair Lawn is a borough in Bergen County, New Jersey and a suburb located only 10 miles from new York City. The borough’s population was 32,457 reflecting a 2.6 percent increase from 2000. Many commuters from Manhattan and employment hubs in neighboring Paramus, Newark, Secaucus and Parsippany-Troy Hills call Fair Lawn home.
Many prominent businesses also call Fair Lawn home such as U.S. Technologies, a high-precision electronics company, is headquartered in Fair Lawn, New Jersey. Columbia Bank (New Jersey) is  the fourth largest financial institution in the U.S. and is headquartered here in Fail Lawn. Also Thermal energy storage company CALMAC is also headquartered here.
Many colleges and universities surround this Bank of America property. Berkeley College with over 3,468 students is only 13 minutes from this Bank of America property. Also 13 minutes away is Bergen Community College with 17,197 enrolled students and 13 minutes away is also Eastwick College Hackensack with over 487 students.
Only 12 minutes from this property is St. Joseph University Medical Center, a major academic medical center with 650 Beds. Seven minutes from the property is Barnert Hospital with 236 Beds.
Bank of America Corporation is an American multinational investment bank and financial services holding company headquartered in Charlotte, North Carolina. It is the second largest banking institution in the Unites States after JP Morgan Chase and the eighth largest bank in the world. Bank of America is one of the Big Four banking institutions in the United States. In commercial banking, Bank of America operates and maintains retail branches in all 50 states and more than 40 countries in the world. Its commercial banking footprint encompasses 46 million consumer and small business relationships in 4,600 banking centers and 15,000 automated teller machines.

  • Bank of America NNN Ground Lease | NYSE: BAC | S&P ARating
  • Strong Deposits: $106M as of June 2021 | 31% Increase From 2019
  • 2009 Construction Featuring Steel Roof | Allows for the Development of Additional 2nd Story
  • Dense Population: More than 28,600 People in a One Mile Radius with Average Household Income Exceeding $100,820
  • Fair Lawn, N.J. Is a Suburb located Only 10 Miles From NewYork City with a Population Exceeding 32,000
  • Commuters from Manhattan, Paramus, Newark, Secaucus and Parsippany Make Their Home in Fair Lawn, New Jersey
  • Only 13 Minutes From Bergen Community College With 17,197 Students; Berkeley College With 3,468 Students
  • Only 12 Minutes From St. Joseph’s Medical Center with 650 Beds and Barnert Hospital with 236 Beds
  • Proximity to Highway 208 | Major East-West Interstate Highway for Commuters Going To & From New Jersey/New York City (Manhattan)
  • Less than 10 Minutes from Orchard Hills Golf Course & Ridgewood Country Club
  • Within Proximity to Numerous Major Drivers such as Westfield Garden State Plaza & Bergen Medical Center
  • Bank of America is the Second Largest Banking Institution in the United States Operating Branches in All 50 States and 40 Countries Worldwide

Property Documents

  • City: Fair Lawn
  • State/county: New Jersey
  • Zip/Postal Code: 07410
  • Country: United States

Detail

  • Price: $6,368,421
  • Year Built: 2009

Additional details

  • CAP RATE: 6.65%
  • NOI: $423,500

Features