415 Stokes Rd - Bank FOR SALE


Medford, NJ 08055
$2,689,000 USD
610-608-2621
415 Stokes Rd, Medford, NJ for Sale
$2,689,000 USD
Bank - FOR SALE
1/11
null | 6.75% Cap Rate

415 Stokes Rd
Medford, NJ 08055


HIGHLIGHTS

  • Single Tenant Citizens Bank with Three Lane Drive-Thru
  • Investment Grade Credit (S&P: A-)
  • NN+ Lease with a 12% Rent Increase Next Option
  • Prime Location at Signalized Intersection
  • Highly Affluent Area in Philadelphia MSA

OVERVIEW

Forged Real Estate is pleased to exclusively offer the opportunity to acquire the fee simple interest in a single tenant property leased to Citizens Bank, (the “Property”) in Medford, New Jersey, a township just 20 miles southeast of Philadelphia. Citizens Bank operates on a NN+ lease with minimal landlord responsibilities limited to the structure only, with the roof still the Tenant’s responsibility. The lease features a strong 12% rental increase in the one remaining five-year option period. The property is located in Medford, New Jersey, within the Cross Keys Center at the corner of the signalized intersection of Stokes Road and Jackson Road, two thoroughfares that combine for 22,000 VPD and provide excellent visibility to local traffic. The 1.24 acre property features three drive-thru lanes, ensuring fast and efficient customer service. The area surrounding the property is exceptionally affluent, with average household incomes of $186,000 within a 1-mile radius, $189,000 within a 3-mile radius, and $177,000 within a 5-mile radius. Medford is part of the Philadelphia MSA; the 8th largest metropolitan area in the U.S., home to 6.25 million residents. Less than a mile from the property, the Medford Run community, a development of 30 townhomes by JP Orleans, has been completed, bringing additional residents to the area. Citizens Bank, N.A. is an investment grade credit tenant with an S&P credit rating of A- and over 1,000 bank branches in 16 states. As of September 30, 2024, Citizens has $175.2 billion in deposits. Citizens Financial Group, Inc., the parent company of Citizens Bank, N.A., is one of the nation’s oldest and largest financial institutions, with $217.5 billion in assets as of December 31, 2024. NN+ LEASE – Citizens Bank operates on a NN+ lease with minimal landlord responsibilities limited to the structure only, with the roof still the Tenant’s responsibility. The lease features a strong 12% rental increase in the one remaining five-year option period. PRIME LOCATION – The 1.24 acre-property is located in Medford, New Jersey, within the Cross Keys Center, at the corner of the signalized intersection of Stokes Road and Jackson Road, two thoroughfares that combine for 22,000 VPD and provide excellent visibility to local traffic. PHILADELPHIA MSA – Medford is a township just 20 miles southeast of Philadelphia and is part of the Philadelphia MSA. The Philadelphia MSA is 8th largest metropolitan area in the U.S., home to 6.25 million residents. INVESTMENT GRADE CREDIT (S&P: A-) – Citizens Bank, N.A. is an investment grade credit tenant with an S&P credit rating of A- and over 1,000 bank branches in 16 states. As of September 30, 2024, Citizens has $175.2 billion in deposits. Citizens Financial Group, Inc., the parent company of Citizens Bank, N.A., is one of the nation’s oldest and largest financial institutions, with $217.5 billion in assets as of December 31, 2024. THREE (3) LANE DRIVE-THRU – The property features three drive-thru lanes, ensuring fast and efficient customer service. HIGHLY AFFLUENT AREA – The area surrounding the property is exceptionally affluent, with average household incomes of $186,000 within a 1-mile radius, $189,000 within a 3-mile radius, and $177,000 within a 5-mile radius. RECENT DEVELOPMENT – Less than a mile from the property, the Medford Run community, a development of three bedroom townhomes by JP Orleans, has been completed, bringing additional residents to the area. In Cooperation with Adam Rose, Rose Commercial

FOR SALE DETAILS

PRICE

$2,689,000 USD

PRICE/SF

$947 USD /SF

CAP RATE

6.75%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Citizens Bank with Three Lane Drive-Thru

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Bank

ADD'L SUBTYPES

Freestanding

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2000

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

1.24 AC

LAND SF

54,027 SF

ZONING

CC

APN/PARCEL ID

20-04106-0000-00004-01

ASK ABOUT THIS PROPERTY

Marc MandelForged Real EstateMore Info
610-608-2621

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Marc MandelForged Real EstateMore Info
610-608-2621

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.